Benchmark Electronics (NYSE:BHE) Updates Q4 2024 Earnings Guidance

Benchmark Electronics (NYSE:BHE) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.530-0.590 for the period, compared to the consensus earnings per share estimate of 0.550. The company issued revenue guidance of $640.0 million-$680.0 million, compared to the consensus revenue estimate of $657.7 million. Benchmark Electronics also updated its Q4 guidance to $0.53-0.59 EPS.

Benchmark Electronics Stock Up 0.3 %

Shares of BHE traded up $0.15 during trading hours on Wednesday, hitting $45.40. The company had a trading volume of 258,295 shares, compared to its average volume of 309,332. The company has a market capitalization of $1.64 billion, a PE ratio of 24.81 and a beta of 0.98. The company has a current ratio of 2.35, a quick ratio of 1.42 and a debt-to-equity ratio of 0.26. Benchmark Electronics has a one year low of $23.62 and a one year high of $48.58. The company’s fifty day moving average price is $42.98 and its two-hundred day moving average price is $40.68.

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

Benchmark Electronics Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Needham & Company LLC upped their target price on Benchmark Electronics from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com upgraded Benchmark Electronics from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Finally, Lake Street Capital upped their target price on Benchmark Electronics from $35.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.33.

Insider Activity

In related news, Director Jeffrey Stephen Mccreary sold 7,073 shares of Benchmark Electronics stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $42.70, for a total transaction of $302,017.10. Following the transaction, the director now owns 42,027 shares in the company, valued at approximately $1,794,552.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.10% of the company’s stock.

Benchmark Electronics Company Profile

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.