Benchmark Electronics, Inc. (NYSE:BHE) announced its quarterly earnings results on Wednesday. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.05, Bloomberg Earnings reports. The company had revenue of $604.00 million for the quarter, compared to analysts’ expectations of $584.50 million. Benchmark Electronics had a net margin of 2.84% and a return on equity of 5.59%. Benchmark Electronics’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. Benchmark Electronics updated its Q4 guidance to $0.34-0.38 EPS.
Benchmark Electronics (NYSE BHE) traded up 0.85% during trading on Wednesday, reaching $35.60. 440,487 shares of the company’s stock traded hands. Benchmark Electronics has a one year low of $24.25 and a one year high of $35.75. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 26.18 and a beta of 0.55. The company has a 50 day moving average of $33.88 and a 200 day moving average of $32.79.
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A number of equities analysts recently issued reports on BHE shares. Needham & Company LLC upped their price target on shares of Benchmark Electronics from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Royal Bank Of Canada upped their price target on shares of Benchmark Electronics from $33.00 to $37.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 20th. Citigroup Inc. reiterated a “neutral” rating and issued a $36.00 price target (up previously from $32.00) on shares of Benchmark Electronics in a research note on Friday, July 21st. Finally, BidaskClub cut shares of Benchmark Electronics from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $33.25.
In other news, Director Douglas G. Duncan sold 5,922 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $31.91, for a total transaction of $188,971.02. Following the sale, the director now owns 30,524 shares in the company, valued at $974,020.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Donald Francis Adam sold 61,572 shares of the business’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $33.60, for a total value of $2,068,819.20. Following the sale, the chief financial officer now owns 112,856 shares in the company, valued at approximately $3,791,961.60. The disclosure for this sale can be found here. Insiders have sold 68,494 shares of company stock worth $2,289,850 in the last 90 days. Insiders own 0.90% of the company’s stock.
Benchmark Electronics Company Profile
Benchmark Electronics, Inc is a provider of electronic manufacturing services. The Company operates through three segments: the Americas, Asia and Europe. It provides services to original equipment manufacturers of industrial control equipment, including equipment for the aerospace and defense industry; telecommunication equipment; computers and related products for business enterprises; medical devices, and testing and instrumentation products.
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