Plexus (NASDAQ:PLXS) Releases Q3 2024 Earnings Guidance

Plexus (NASDAQ:PLXS) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.220-1.370 for the period, compared to the consensus estimate of 1.090. The company issued revenue guidance of $960.0 million-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion. Plexus also updated its Q3 guidance to $1.22-1.37 EPS.

Plexus Trading Up 1.2 %

PLXS stock traded up $1.19 during midday trading on Friday, hitting $100.28. The company had a trading volume of 127,042 shares, compared to its average volume of 117,597. The company has a current ratio of 1.52, a quick ratio of 0.62 and a debt-to-equity ratio of 0.15. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 27.56 and a beta of 1.02. The stock’s 50 day moving average price is $94.38 and its 200 day moving average price is $98.38. Plexus has a 52 week low of $83.84 and a 52 week high of $114.06.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.87 by $0.07. Plexus had a return on equity of 10.86% and a net margin of 2.54%. The company had revenue of $966.90 million for the quarter, compared to analysts’ expectations of $950.75 million. During the same period last year, the firm posted $1.45 earnings per share. Plexus’s revenue was down 9.7% compared to the same quarter last year. As a group, equities research analysts expect that Plexus will post 4.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

PLXS has been the topic of several recent analyst reports. Stifel Nicolaus lifted their target price on Plexus from $90.00 to $95.00 and gave the company a hold rating in a research note on Friday. Needham & Company LLC lifted their target price on Plexus from $107.00 to $114.00 and gave the stock a buy rating in a report on Friday. Benchmark reiterated a buy rating and issued a $110.00 target price on shares of Plexus in a report on Wednesday, January 17th. TheStreet lowered Plexus from a b rating to a c+ rating in a research note on Tuesday, February 13th. Finally, Sidoti lowered Plexus from a buy rating to a neutral rating and set a $112.00 price target for the company. in a research note on Tuesday, January 9th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Plexus presently has a consensus rating of Hold and an average price target of $107.75.

Insider Buying and Selling

In other Plexus news, CFO Patrick John Jermain sold 2,532 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $92.51, for a total transaction of $234,235.32. Following the sale, the chief financial officer now owns 54,651 shares in the company, valued at approximately $5,055,764.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Plexus news, CFO Patrick John Jermain sold 2,532 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $92.51, for a total transaction of $234,235.32. Following the sale, the chief financial officer now owns 54,651 shares in the company, valued at approximately $5,055,764.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,694 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $97.18, for a total value of $358,982.92. Following the completion of the sale, the chief accounting officer now owns 40,875 shares in the company, valued at approximately $3,972,232.50. The disclosure for this sale can be found here. Insiders have sold a total of 32,453 shares of company stock worth $3,112,875 in the last ninety days. 2.39% of the stock is owned by insiders.

About Plexus

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.