Plexus Corp. (PLXS) Expected to Announce Quarterly Sales of $690.73 Million

Equities research analysts expect that Plexus Corp. (NASDAQ:PLXS) will report sales of $690.73 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Plexus’ earnings, with the lowest sales estimate coming in at $690.00 million and the highest estimate coming in at $691.30 million. Plexus reported sales of $604.35 million in the same quarter last year, which would suggest a positive year over year growth rate of 14.3%. The company is expected to report its next quarterly earnings report on Wednesday, April 18th.

On average, analysts expect that Plexus will report full-year sales of $690.73 million for the current fiscal year, with estimates ranging from $2.78 billion to $2.82 billion. For the next year, analysts expect that the business will post sales of $3.01 billion per share, with estimates ranging from $2.98 billion to $3.03 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Plexus.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings data on Wednesday, January 17th. The technology company reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.05). The company had revenue of $677.00 million for the quarter, compared to analysts’ expectations of $685.07 million. Plexus had a positive return on equity of 11.24% and a negative net margin of 0.57%. The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.82 earnings per share.

Several research analysts have recently weighed in on PLXS shares. Longbow Research upgraded shares of Plexus from a “neutral” rating to a “buy” rating in a report on Monday, January 8th. ValuEngine upgraded shares of Plexus from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. TheStreet lowered shares of Plexus from an “a-” rating to a “c+” rating in a report on Wednesday, January 17th. Citigroup raised their price target on shares of Plexus from $59.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, October 27th. Finally, BidaskClub lowered shares of Plexus from a “hold” rating to a “sell” rating in a report on Saturday, December 16th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Plexus currently has an average rating of “Hold” and an average price target of $59.17.

In related news, VP Ronnie Darroch sold 5,900 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $59.03, for a total value of $348,277.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter Kelly purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was acquired at an average price of $60.00 per share, for a total transaction of $300,000.00. Following the acquisition, the director now directly owns 21,896 shares of the company’s stock, valued at approximately $1,313,760. The disclosure for this purchase can be found here. Insiders sold 95,338 shares of company stock worth $5,936,316 in the last 90 days. 3.70% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the business. Mutual of America Capital Management LLC grew its position in Plexus by 2.8% in the third quarter. Mutual of America Capital Management LLC now owns 68,101 shares of the technology company’s stock valued at $3,819,000 after acquiring an additional 1,861 shares in the last quarter. Allianz Asset Management GmbH grew its position in Plexus by 45.7% in the third quarter. Allianz Asset Management GmbH now owns 63,817 shares of the technology company’s stock valued at $3,579,000 after acquiring an additional 20,010 shares in the last quarter. Legal & General Group Plc grew its position in Plexus by 3.9% in the third quarter. Legal & General Group Plc now owns 83,876 shares of the technology company’s stock valued at $4,705,000 after acquiring an additional 3,140 shares in the last quarter. FMR LLC grew its position in Plexus by 546.1% in the second quarter. FMR LLC now owns 1,111,655 shares of the technology company’s stock valued at $58,440,000 after acquiring an additional 939,589 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Plexus in the third quarter valued at approximately $514,000. 94.07% of the stock is owned by institutional investors.

Plexus (NASDAQ:PLXS) opened at $57.47 on Monday. The firm has a market cap of $1,936.11, a PE ratio of -112.68 and a beta of 0.87. Plexus has a 1-year low of $49.06 and a 1-year high of $66.78. The company has a current ratio of 1.90, a quick ratio of 1.08 and a debt-to-equity ratio of 0.03.

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Plexus Company Profile

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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