Plexus (NASDAQ:PLXS) Updates Q4 2024 Earnings Guidance

Plexus (NASDAQ:PLXS) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.500-1.650 for the period, compared to the consensus earnings per share estimate of 1.440. The company issued revenue guidance of $990.0 million-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion. Plexus also updated its Q4 guidance to $1.50-1.65 EPS.

Wall Street Analyst Weigh In

Several research firms recently commented on PLXS. Needham & Company LLC boosted their target price on Plexus from $107.00 to $114.00 and gave the stock a buy rating in a research note on Friday, April 26th. Stifel Nicolaus boosted their target price on Plexus from $90.00 to $95.00 and gave the stock a hold rating in a research note on Friday, April 26th. Finally, Benchmark boosted their target price on Plexus from $110.00 to $120.00 and gave the stock a buy rating in a research note on Friday, June 21st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $110.25.

Plexus Stock Up 11.6 %

Shares of NASDAQ:PLXS traded up $13.44 on Thursday, hitting $129.59. 510,437 shares of the company’s stock were exchanged, compared to its average volume of 126,073. The firm’s 50-day moving average is $107.91 and its 200 day moving average is $100.90. The company has a market capitalization of $3.55 billion, a PE ratio of 35.49 and a beta of 0.90. Plexus has a 1-year low of $87.21 and a 1-year high of $132.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.64 and a current ratio of 1.51.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.17. The business had revenue of $960.70 million during the quarter, compared to analysts’ expectations of $981.32 million. Plexus had a return on equity of 10.77% and a net margin of 2.54%. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.32 EPS. Sell-side analysts predict that Plexus will post 3.67 EPS for the current year.

Insider Activity at Plexus

In related news, CEO Todd P. Kelsey sold 1,000 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $102.10, for a total value of $102,100.00. Following the completion of the sale, the chief executive officer now directly owns 113,810 shares of the company’s stock, valued at approximately $11,620,001. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Todd P. Kelsey sold 1,000 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $102.10, for a total value of $102,100.00. Following the completion of the sale, the chief executive officer now directly owns 113,810 shares of the company’s stock, valued at approximately $11,620,001. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Victor (Pang Hau) Tan sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $102.50, for a total value of $205,000.00. Following the sale, the insider now directly owns 12,605 shares of the company’s stock, valued at $1,292,012.50. The disclosure for this sale can be found here. Insiders sold a total of 35,386 shares of company stock valued at $3,749,884 in the last three months. 2.39% of the stock is currently owned by company insiders.

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.