Plexus Corp. (PLXS) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS
Plexus Corp. (NASDAQ:PLXS) issued its quarterly earnings data on Wednesday. The technology company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.71 by $0.03, Bloomberg Earnings reports. Plexus Corp. had a return on equity of 11.10% and a net margin of 4.01%. The firm had revenue of $618.80 million during the quarter, compared to analyst estimates of $608.95 million. During the same quarter in the prior year, the business posted $0.82 EPS. The business’s revenue for the quarter was down 7.3% compared to the same quarter last year. Plexus Corp. updated its Q4 guidance to $0.77 to $0.87 EPS.
Plexus Corp. (NASDAQ:PLXS) traded up 1.51% during trading on Wednesday, hitting $53.86. 212,695 shares of the company’s stock traded hands. Plexus Corp. has a 12-month low of $43.56 and a 12-month high of $58.74. The stock has a market cap of $1.82 billion, a P/E ratio of 18.07 and a beta of 0.93. The firm’s 50-day moving average price is $52.57 and its 200 day moving average price is $54.19.
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A number of brokerages recently issued reports on PLXS. Royal Bank Of Canada restated a “sector perform” rating and issued a $57.00 target price on shares of Plexus Corp. in a research note on Saturday, April 22nd. BidaskClub lowered Plexus Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Zacks Investment Research lowered Plexus Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, March 22nd. JPMorgan Chase & Co. assumed coverage on Plexus Corp. in a research report on Tuesday, April 4th. They set a “neutral” rating and a $65.00 target price on the stock. Finally, ValuEngine cut Plexus Corp. from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $59.80.
In related news, CEO Todd P. Kelsey sold 2,000 shares of Plexus Corp. stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $53.49, for a total transaction of $106,980.00. Following the sale, the chief executive officer now owns 57,175 shares of the company’s stock, valued at approximately $3,058,290.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael V. Schrock sold 5,000 shares of Plexus Corp. stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $51.37, for a total transaction of $256,850.00. Following the sale, the director now directly owns 28,298 shares in the company, valued at approximately $1,453,668.26. The disclosure for this sale can be found here. In the last three months, insiders sold 12,400 shares of company stock worth $652,000. Insiders own 4.30% of the company’s stock.
About Plexus Corp.
Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. The Company delivers end-to-end solutions for customers in the Americas (AMER), Europe, Middle East, and Africa (EMEA) and Asia-Pacific (APAC) regions. The Company’s segments are AMER, APAC and EMEA.
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