Plexus (PLXS) Scheduled to Post Earnings on Wednesday

Plexus (NASDAQ:PLXS) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, April 24th. Analysts expect Plexus to post earnings of $0.77 per share for the quarter. Plexus has set its Q2 2024 guidance at 0.480-0.630 EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Plexus (NASDAQ:PLXS) last released its quarterly earnings results on Thursday, January 25th. The technology company reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.01). The business had revenue of $982.61 million for the quarter, compared to the consensus estimate of $982.57 million. Plexus had a return on equity of 12.16% and a net margin of 3.08%. The firm’s revenue was down 10.2% on a year-over-year basis. During the same quarter last year, the company earned $1.49 earnings per share. On average, analysts expect Plexus to post $4 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Plexus Stock Up 0.2 %

NASDAQ PLXS opened at $94.92 on Wednesday. The firm has a market cap of $2.62 billion, a PE ratio of 21.14 and a beta of 1.02. Plexus has a one year low of $83.84 and a one year high of $114.06. The stock’s 50 day simple moving average is $94.53 and its 200 day simple moving average is $98.35. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.52 and a quick ratio of 0.62.

Insider Activity

In other Plexus news, CEO Todd P. Kelsey sold 2,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $94.00, for a total transaction of $188,000.00. Following the completion of the transaction, the chief executive officer now owns 121,310 shares in the company, valued at approximately $11,403,140. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Patrick John Jermain sold 4,748 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $95.47, for a total value of $453,291.56. Following the completion of the transaction, the chief financial officer now owns 49,903 shares in the company, valued at approximately $4,764,239.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd P. Kelsey sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $94.00, for a total value of $188,000.00. Following the completion of the transaction, the chief executive officer now owns 121,310 shares of the company’s stock, valued at approximately $11,403,140. The disclosure for this sale can be found here. Insiders have sold a total of 32,453 shares of company stock valued at $3,112,875 in the last 90 days. 2.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On Plexus

Hedge funds have recently modified their holdings of the stock. Symmetry Peak Management LLC bought a new position in shares of Plexus in the 4th quarter valued at about $234,000. Creative Planning bought a new position in shares of Plexus in the 3rd quarter valued at about $226,000. Advisor Partners II LLC bought a new position in shares of Plexus in the 4th quarter valued at about $216,000. Two Sigma Investments LP acquired a new stake in Plexus in the 4th quarter valued at about $203,000. Finally, Lazard Asset Management LLC lifted its stake in Plexus by 80.9% in the 2nd quarter. Lazard Asset Management LLC now owns 1,968 shares of the technology company’s stock valued at $193,000 after purchasing an additional 880 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PLXS shares. Benchmark reaffirmed a “buy” rating and set a $110.00 price objective on shares of Plexus in a report on Wednesday, January 17th. Sidoti downgraded Plexus from a “buy” rating to a “neutral” rating and set a $112.00 price objective on the stock. in a report on Tuesday, January 9th. Needham & Company LLC reduced their price objective on Plexus from $110.00 to $107.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Finally, TheStreet downgraded Plexus from a “b” rating to a “c+” rating in a report on Tuesday, February 13th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $109.67.

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.