Plexus (NASDAQ:PLXS – Get Free Report) updated its third quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.220-1.370 for the period, compared to the consensus estimate of 1.090. The company issued revenue guidance of $960.0 million-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion. Plexus also updated its Q3 guidance to $1.22-1.37 EPS.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on PLXS. Benchmark reissued a buy rating and issued a $110.00 price objective on shares of Plexus in a research report on Wednesday, January 17th. Sidoti cut Plexus from a buy rating to a neutral rating and set a $112.00 price objective for the company. in a research report on Tuesday, January 9th. TheStreet cut Plexus from a b rating to a c+ rating in a research report on Tuesday, February 13th. Needham & Company LLC increased their price objective on Plexus from $107.00 to $114.00 and gave the company a buy rating in a research report on Friday. Finally, Stifel Nicolaus raised their target price on Plexus from $90.00 to $95.00 and gave the stock a hold rating in a research report on Friday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $107.75.
Get Our Latest Research Report on Plexus
Plexus Stock Performance
Plexus (NASDAQ:PLXS – Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07. The business had revenue of $966.90 million for the quarter, compared to analysts’ expectations of $950.75 million. Plexus had a return on equity of 10.86% and a net margin of 2.54%. The firm’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.45 EPS. As a group, equities research analysts anticipate that Plexus will post 4.36 earnings per share for the current year.
Insider Activity at Plexus
In related 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 sale, the chief financial officer now directly owns 49,903 shares of the company’s stock, valued at $4,764,239.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 3,694 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $97.18, for a total value of $358,982.92. Following the transaction, the chief accounting officer now directly owns 40,875 shares of the company’s stock, valued at $3,972,232.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Patrick John Jermain sold 4,748 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were 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 directly owns 49,903 shares in the company, valued at $4,764,239.41. The disclosure for this sale can be found here. Insiders have sold 32,453 shares of company stock valued at $3,112,875 over the last ninety days. 2.39% of the stock is owned by corporate insiders.
Plexus Company Profile
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.
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