Wall Street brokerages expect that Plexus Corp. (NASDAQ:PLXS) will report earnings of $0.75 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Plexus’ earnings, with the highest EPS estimate coming in at $0.77 and the lowest estimate coming in at $0.73. Plexus reported earnings of $0.84 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 10.7%. The company is expected to report its next quarterly earnings results on Wednesday, April 18th.
According to Zacks, analysts expect that Plexus will report full-year earnings of $3.27 per share for the current year, with EPS estimates ranging from $3.21 to $3.30. For the next financial year, analysts anticipate that the company will post earnings of $3.83 per share, with EPS estimates ranging from $3.73 to $4.01. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Plexus.
Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, January 17th. The technology company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.05). Plexus had a negative net margin of 0.57% and a positive return on equity of 11.24%. The business had revenue of $677.00 million for the quarter, compared to the consensus estimate of $685.07 million. During the same quarter in the previous year, the firm posted $0.82 EPS. The business’s revenue was up 6.6% on a year-over-year basis.
PLXS has been the subject of several research analyst reports. BidaskClub lowered shares of Plexus from a “hold” rating to a “sell” rating in a report on Saturday, December 16th. ValuEngine raised shares of Plexus from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Longbow Research raised shares of Plexus from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th. TheStreet lowered shares of Plexus from an “a-” rating to a “c+” rating in a research note on Wednesday, January 17th. Finally, JPMorgan Chase & Co. set a $70.00 target price on shares of Plexus and gave the stock a “hold” rating in a research note on Friday, March 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $60.00.
Shares of Plexus stock traded down $0.12 during mid-day trading on Friday, hitting $64.42. 109,419 shares of the stock traded hands, compared to its average volume of 165,360. Plexus has a one year low of $49.06 and a one year high of $66.78. The firm has a market cap of $2,187.78, a price-to-earnings ratio of -126.86 and a beta of 0.83. The company has a quick ratio of 1.08, a current ratio of 1.90 and a debt-to-equity ratio of 0.03.
Plexus declared that its Board of Directors has authorized a share buyback program on Tuesday, February 20th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
In other Plexus news, VP Ronnie Darroch sold 5,900 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.03, for a total transaction of $348,277.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Peter Kelly purchased 5,000 shares of the business’s stock in a transaction on Wednesday, January 24th. The shares were acquired at an average cost of $60.00 per share, for a total transaction of $300,000.00. Following the completion of the transaction, the director now directly owns 21,896 shares in the company, valued at $1,313,760. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 28,554 shares of company stock valued at $1,726,564. Company insiders own 3.70% of the company’s stock.
A number of large investors have recently modified their holdings of PLXS. Franklin Resources Inc. lifted its position in Plexus by 67.3% during the 4th quarter. Franklin Resources Inc. now owns 1,192,000 shares of the technology company’s stock worth $72,378,000 after buying an additional 479,300 shares in the last quarter. Thrivent Financial For Lutherans lifted its position in Plexus by 99.7% during the 4th quarter. Thrivent Financial For Lutherans now owns 287,611 shares of the technology company’s stock worth $17,464,000 after buying an additional 143,561 shares in the last quarter. BlackRock Inc. lifted its position in Plexus by 2.6% during the 4th quarter. BlackRock Inc. now owns 4,313,584 shares of the technology company’s stock worth $261,921,000 after buying an additional 107,433 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in Plexus by 10.7% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 581,975 shares of the technology company’s stock worth $35,338,000 after buying an additional 56,425 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Plexus by 60.6% during the 4th quarter. Deutsche Bank AG now owns 138,411 shares of the technology company’s stock worth $8,401,000 after buying an additional 52,209 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.
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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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