Benchmark Electronics (NYSE:BHE) Issues Q4 Earnings Guidance

Benchmark Electronics (NYSE:BHE) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.53-0.59 for the period, compared to the consensus EPS estimate of $0.55. The company issued revenue guidance of $640-680 million, compared to the consensus revenue estimate of $657.70 million.

Analysts Set New Price Targets

BHE has been the subject of several recent research reports. StockNews.com upgraded shares of Benchmark Electronics from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Needham & Company LLC increased their price objective on Benchmark Electronics from $40.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Lake Street Capital raised their target price on Benchmark Electronics from $35.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $41.33.

Benchmark Electronics Trading Up 0.4 %

Shares of NYSE BHE traded up $0.17 during midday trading on Wednesday, reaching $45.42. The stock had a trading volume of 258,295 shares, compared to its average volume of 309,332. Benchmark Electronics has a twelve month low of $23.62 and a twelve month high of $48.58. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.42 and a current ratio of 2.35. The company’s 50 day moving average price is $42.98 and its 200 day moving average price is $40.68. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 24.73 and a beta of 0.98.

Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. The business had revenue of $666.00 million for the quarter, compared to analysts’ expectations of $635.75 million. Benchmark Electronics had a net margin of 2.45% and a return on equity of 7.17%. The business’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 earnings per share.

Benchmark Electronics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a $0.17 dividend. This is an increase from Benchmark Electronics’s previous quarterly dividend of $0.17. This represents a $0.68 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Monday, September 30th. Benchmark Electronics’s payout ratio is presently 37.16%.

Insider Buying and Selling at Benchmark Electronics

In other news, Director Jeffrey Stephen Mccreary sold 7,073 shares of Benchmark Electronics stock in a transaction on Monday, August 26th. The shares were sold at an average price of $42.70, for a total value of $302,017.10. Following the completion of the sale, the director now owns 42,027 shares in the company, valued at $1,794,552.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.10% of the company’s stock.

About Benchmark Electronics

Benchmark Electronics, Inc, together with its subsidiaries, offers product design, engineering services, technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company provides engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing and technology solutions, as well as automation equipment design and build services.