Plexus (NASDAQ:PLXS) Updates Q3 2024 Earnings Guidance

Plexus (NASDAQ:PLXS) updated its third quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.220-1.370 for the period, compared to the consensus EPS 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.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PLXS shares. TheStreet downgraded Plexus from a b rating to a c+ rating in a research note on Tuesday, February 13th. Needham & Company LLC lowered their target price on Plexus from $110.00 to $107.00 and set a buy rating for the company in a research note on Thursday, January 25th. Sidoti lowered shares of Plexus from a buy rating to a neutral rating and set a $112.00 price objective on the stock. in a report on Tuesday, January 9th. Finally, Benchmark reissued a buy rating and set a $110.00 price target on shares of Plexus in a research report on Wednesday, January 17th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Plexus currently has an average rating of Moderate Buy and an average target price of $109.67.

Plexus Stock Performance

PLXS traded down $0.91 on Wednesday, hitting $95.67. 114,744 shares of the company’s stock were exchanged, compared to its average volume of 117,256. The company has a current ratio of 1.52, a quick ratio of 0.62 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average of $94.32 and a two-hundred day moving average of $98.39. Plexus has a twelve month low of $83.84 and a twelve month high of $114.06. The firm has a market cap of $2.64 billion, a PE ratio of 21.34 and a beta of 1.02.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Thursday, January 25th. The technology company reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.01). Plexus had a return on equity of 12.16% and a net margin of 3.08%. The firm had revenue of $982.61 million during the quarter, compared to analyst estimates of $982.57 million. During the same period last year, the business earned $1.49 EPS. The firm’s revenue was down 10.2% on a year-over-year basis. On average, research analysts anticipate that Plexus will post 4.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Plexus

In other Plexus news, CFO Patrick John Jermain sold 2,532 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $92.51, for a total transaction of $234,235.32. Following the completion of the transaction, the chief financial officer now directly owns 54,651 shares of the company’s stock, valued at approximately $5,055,764.01. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other 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 shares were sold at an average price of $97.18, for a total transaction of $358,982.92. Following the sale, the chief accounting officer now owns 40,875 shares in the company, valued at $3,972,232.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Patrick John Jermain sold 2,532 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $92.51, for a total transaction of $234,235.32. Following the completion of the transaction, the chief financial officer now directly owns 54,651 shares of the company’s stock, valued at approximately $5,055,764.01. The disclosure for this sale can be found here. Insiders have sold 32,453 shares of company stock valued at $3,112,875 in the last quarter. Corporate insiders own 2.39% of the company’s stock.

About Plexus

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.