Wall Street brokerages expect Plexus Corp. (NASDAQ:PLXS) to post sales of $762.30 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Plexus’ earnings. The lowest sales estimate is $760.00 million and the highest is $765.00 million. Plexus reported sales of $669.85 million during the same quarter last year, which indicates a positive year-over-year growth rate of 13.8%. The firm is expected to report its next quarterly earnings results after the market closes on Wednesday, October 24th.
According to Zacks, analysts expect that Plexus will report full-year sales of $2.86 billion for the current year, with estimates ranging from $2.86 billion to $2.87 billion. For the next year, analysts anticipate that the company will post sales of $3.13 billion, with estimates ranging from $3.08 billion to $3.19 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Plexus.
Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, July 18th. The technology company reported $0.79 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.03). The business had revenue of $726.39 million during the quarter, compared to analysts’ expectations of $721.08 million. Plexus had a negative net margin of 1.11% and a positive return on equity of 11.37%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share.
PLXS has been the subject of several analyst reports. ValuEngine upgraded Plexus from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. BidaskClub upgraded Plexus from a “hold” rating to a “buy” rating in a research note on Saturday, September 1st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $70.00 target price on shares of Plexus in a research note on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Plexus presently has an average rating of “Hold” and a consensus price target of $69.25.
Shares of NASDAQ:PLXS traded down $0.91 on Monday, hitting $58.59. The company had a trading volume of 99,100 shares, compared to its average volume of 165,143. The company has a quick ratio of 1.05, a current ratio of 2.11 and a debt-to-equity ratio of 0.20. Plexus has a 52-week low of $53.21 and a 52-week high of $66.78. The company has a market capitalization of $1.94 billion, a P/E ratio of 18.23 and a beta of 0.71.
In related news, Chairman Dean A. Foate sold 34,900 shares of Plexus stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $61.47, for a total transaction of $2,145,303.00. Following the completion of the sale, the chairman now owns 303,440 shares of the company’s stock, valued at $18,652,456.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Dean A. Foate sold 1,300 shares of Plexus stock in a transaction on Monday, August 6th. The shares were sold at an average price of $61.19, for a total value of $79,547.00. Following the sale, the chairman now directly owns 303,440 shares of the company’s stock, valued at approximately $18,567,493.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 122,830 shares of company stock valued at $7,596,700. Corporate insiders own 3.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of PLXS. Victory Capital Management Inc. raised its holdings in Plexus by 84.4% during the second quarter. Victory Capital Management Inc. now owns 723,178 shares of the technology company’s stock valued at $43,058,000 after buying an additional 330,937 shares in the last quarter. Cooke & Bieler LP raised its holdings in Plexus by 267.7% during the first quarter. Cooke & Bieler LP now owns 267,430 shares of the technology company’s stock valued at $15,974,000 after buying an additional 194,700 shares in the last quarter. BlackRock Inc. raised its holdings in Plexus by 3.9% during the second quarter. BlackRock Inc. now owns 4,511,927 shares of the technology company’s stock valued at $268,640,000 after buying an additional 167,870 shares in the last quarter. Hodges Capital Management Inc. bought a new position in Plexus during the second quarter valued at about $6,216,000. Finally, Silvercrest Asset Management Group LLC raised its holdings in Plexus by 11.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 979,629 shares of the technology company’s stock valued at $58,513,000 after buying an additional 100,635 shares in the last quarter. Institutional investors own 97.29% of the company’s stock.
Plexus Company Profile
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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