Plexus (NASDAQ:PLXS) Issues Earnings Results, Beats Estimates By $0.17 EPS

Plexus (NASDAQ:PLXS) posted its quarterly earnings results on Wednesday. The technology company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.17, Briefing.com reports. Plexus had a net margin of 2.82% and a return on equity of 9.68%. The business had revenue of $960.70 million during the quarter, compared to the consensus estimate of $981.32 million. During the same period in the previous year, the firm posted $1.32 earnings per share. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. Plexus updated its Q4 guidance to $1.50-1.65 EPS and its Q4 2024 guidance to 1.500-1.650 EPS.

Plexus Stock Down 0.5 %

Shares of PLXS stock traded down $0.68 during mid-day trading on Friday, hitting $128.91. The company’s stock had a trading volume of 79,244 shares, compared to its average volume of 125,692. Plexus has a 52-week low of $87.21 and a 52-week high of $132.46. The business has a 50-day moving average price of $108.33 and a 200 day moving average price of $101.10. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.64 and a current ratio of 1.51. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 36.06 and a beta of 0.90.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PLXS shares. Stifel Nicolaus raised their price target on Plexus from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Benchmark lifted their price objective on Plexus from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Finally, Needham & Company LLC lifted their price target on Plexus from $114.00 to $144.00 and gave the company a “buy” rating in a research report on Friday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Plexus presently has a consensus rating of “Hold” and a consensus price target of $117.75.

Insider Transactions at Plexus

In other news, CEO Todd P. Kelsey sold 1,656 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $115.00, for a total value of $190,440.00. Following the completion of the transaction, the chief executive officer now owns 96,682 shares in the company, valued at $11,118,430. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Steven J. Frisch sold 700 shares of Plexus stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $108.19, for a total value of $75,733.00. Following the completion of the sale, the insider now owns 56,113 shares of the company’s stock, valued at $6,070,865.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd P. Kelsey sold 1,656 shares of Plexus stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $115.00, for a total value of $190,440.00. Following the completion of the sale, the chief executive officer now directly owns 96,682 shares of the company’s stock, valued at approximately $11,118,430. The disclosure for this sale can be found here. Insiders sold 35,386 shares of company stock worth $3,749,884 over the last quarter. 2.39% of the stock is currently owned by 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.