Plexus Corp. (PLXS) Updates Q4 Earnings Guidance
Plexus Corp. (NASDAQ:PLXS) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.66-0.70 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.63, Stock Ratings Network reports. The company issued revenue guidance of $545-575 million, compared to the consensus revenue estimate of $561.02 million.
A number of research firms have recently commented on PLXS. Analysts at RBC Capital raised their price target on shares of Plexus Corp. (NASDAQ:PLXS) from $27.00 to $32.00 in a research note to investors on Friday, July 19th. On a related note, analysts at Bank of America Corp. reiterated a neutral rating on shares of Plexus Corp. (NASDAQ:PLXS) in a research note to investors on Friday, July 19th. They now have a $34.00 price target on the stock, up previously from $29.00. Finally, analysts at Needham & Company downgraded shares of Plexus Corp. (NASDAQ:PLXS) from a buy rating to a hold rating in a research note to investors on Monday, July 8th. They now have a $28.00 price target on the stock.
Six analysts have rated the stock with a hold rating, The stock currently has an average rating of Hold and a consensus price target of $29.40.
Plexus Corp. (NASDAQ:PLXS) opened at 34.81 on Wednesday. Plexus Corp. has a 52-week low of $19.63 and a 52-week high of $36.13. The stock’s 50-day moving average is $34.38 and its 200-day moving average is $29.19. The company has a market cap of $1.175 billion and a price-to-earnings ratio of 20.54.
Plexus Corp. (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.10. The company had revenue of $571.90 million for the quarter, compared to the consensus estimate of $564.99 million. During the same quarter in the previous year, the company posted $0.66 earnings per share. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, analysts predict that Plexus Corp. will post $2.30 earnings per share for the current fiscal year.
Plexus Corp. (NASDAQ:PLXS) and its subsidiaries delivers solutions to its customers through its Product Realization Value Stream.
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