Equities analysts expect that Plexus Corp. (NASDAQ:PLXS) will post earnings of $0.75 per share for the current quarter, Zacks reports. Three analysts have made estimates for Plexus’ earnings, with estimates ranging from $0.73 to $0.77. Plexus posted earnings per share of $0.84 in the same quarter last year, which indicates a negative year-over-year growth rate of 10.7%. The firm is expected to announce its next earnings report after the market closes on Wednesday, April 25th.
According to Zacks, analysts expect that Plexus will report full year earnings of $3.27 per share for the current fiscal year, with EPS estimates ranging from $3.21 to $3.30. For the next fiscal year, analysts forecast that the firm will post earnings of $3.83 per share, with EPS estimates ranging from $3.73 to $4.01. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Plexus.
Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, January 17th. The technology company reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.05). The business 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 firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the firm earned $0.82 earnings per share.
A number of analysts have issued reports on PLXS shares. TheStreet downgraded Plexus from an “a-” rating to a “c+” rating in a report on Wednesday, January 17th. Zacks Investment Research raised Plexus from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Thursday, March 22nd. JPMorgan Chase set a $70.00 target price on Plexus and gave the company a “hold” rating in a report on Friday, March 16th. Longbow Research raised Plexus from a “neutral” rating to a “buy” rating in a report on Monday, January 8th. Finally, ValuEngine raised Plexus from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $62.00.
In related news, Director David J. Drury sold 2,500 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $60.73, for a total value of $151,825.00. Following the transaction, the director now owns 12,000 shares in the company, valued at approximately $728,760. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ronnie Darroch sold 1,250 shares of the business’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $60.66, for a total value of $75,825.00. The disclosure for this sale can be found here. Insiders sold a total of 28,554 shares of company stock valued at $1,726,564 over the last three months. Company insiders own 3.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of PLXS. Cambridge Investment Research Advisors Inc. acquired a new position in Plexus in the 4th quarter valued at about $201,000. Xact Kapitalforvaltning AB acquired a new position in Plexus during the 4th quarter worth approximately $215,000. Verition Fund Management LLC acquired a new position in Plexus during the 4th quarter worth approximately $232,000. Sawgrass Asset Management LLC increased its position in Plexus by 44.2% during the 4th quarter. Sawgrass Asset Management LLC now owns 6,200 shares of the technology company’s stock worth $376,000 after purchasing an additional 1,900 shares during the period. Finally, Parametrica Management Ltd acquired a new position in Plexus during the 4th quarter worth approximately $420,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.
NASDAQ PLXS traded down $0.19 during trading on Thursday, reaching $62.50. 75,024 shares of the company’s stock were exchanged, compared to its average volume of 166,342. The company has a market capitalization of $2,091.43, a price-to-earnings ratio of 19.29 and a beta of 0.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.90 and a quick ratio of 1.08. Plexus has a 1 year low of $49.06 and a 1 year high of $66.78.
Plexus announced that its board has authorized a stock buyback plan on Tuesday, February 20th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.
Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers product conceptualization solutions; and product design and value-engineering solutions, including program management, feasibility studies, specification development for product features and functionality, circuit design, field programmable gate array design, printed circuit board layout, embedded software design, mechanical design, test specifications development and product verification testing, and automated production solutions and complex automation design.
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