Benchmark Electronics (NYSE:BHE) Issues Q3 2024 Earnings Guidance

Benchmark Electronics (NYSE:BHE) updated its third quarter 2024 earnings guidance on Tuesday. The company provided EPS guidance of 0.520-0.580 for the period, compared to the consensus EPS estimate of 0.520. The company issued revenue guidance of $630.0 million-$670.0 million, compared to the consensus revenue estimate of $647.2 million. Benchmark Electronics also updated its Q3 guidance to $0.52-$0.58 EPS.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Sidoti cut Benchmark Electronics from a buy rating to a neutral rating and set a $33.00 price objective for the company. in a research report on Monday, April 29th. Needham & Company LLC boosted their price objective on Benchmark Electronics from $31.00 to $40.00 and gave the stock a buy rating in a research report on Monday, May 6th. Fox Advisors cut Benchmark Electronics from an overweight rating to an equal weight rating in a research report on Wednesday, May 15th. Finally, StockNews.com cut Benchmark Electronics from a buy rating to a hold rating in a research report on Friday, July 19th.

Benchmark Electronics Price Performance

Shares of BHE stock traded down $1.62 during trading hours on Tuesday, hitting $40.68. The company had a trading volume of 417,011 shares, compared to its average volume of 337,391. Benchmark Electronics has a 12 month low of $22.66 and a 12 month high of $44.85. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 22.35 and a beta of 0.99. The firm’s fifty day moving average is $40.98 and its 200 day moving average is $34.41. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.41 and a current ratio of 2.36.

Benchmark Electronics (NYSE:BHE) last released its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. The business had revenue of $675.58 million for the quarter. Benchmark Electronics had a return on equity of 7.20% and a net margin of 2.34%.

Benchmark Electronics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were given a dividend of $0.165 per share. The ex-dividend date was Friday, June 28th. This represents a $0.66 dividend on an annualized basis and a yield of 1.62%. Benchmark Electronics’s dividend payout ratio (DPR) is presently 36.07%.

Insiders Place Their Bets

In other Benchmark Electronics news, SVP Jan M. Janick sold 6,777 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $38.87, for a total transaction of $263,421.99. Following the transaction, the senior vice president now owns 67,774 shares of the company’s stock, valued at approximately $2,634,375.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Arvind Kamal sold 783 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $38.38, for a total value of $30,051.54. Following the transaction, the chief financial officer now owns 20,735 shares of the company’s stock, valued at approximately $795,809.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Jan M. Janick sold 6,777 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $38.87, for a total value of $263,421.99. Following the completion of the transaction, the senior vice president now directly owns 67,774 shares in the company, valued at approximately $2,634,375.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,560 shares of company stock valued at $688,374. 2.10% of the stock is currently owned by corporate insiders.

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.