Plexus (NASDAQ:PLXS) Issues Earnings Results, Misses Expectations By $0.05 EPS

Plexus (NASDAQ:PLXS) announced its quarterly earnings data on Wednesday, April 17th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.05), Bloomberg Earnings reports. Plexus had a net margin of 4.79% and a return on equity of 12.52%. The company had revenue of $789.10 million for the quarter, compared to analysts’ expectations of $779.03 million. During the same period in the prior year, the firm earned $0.74 earnings per share. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. Plexus updated its Q3 2019 guidance to $0.76-0.86 EPS and its Q3 guidance to $0.80-0.90 EPS.

NASDAQ:PLXS traded down $0.24 on Friday, reaching $58.55. The stock had a trading volume of 84,954 shares, compared to its average volume of 170,465. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.83 and a quick ratio of 0.88. The stock has a market cap of $1.77 billion, a P/E ratio of 18.13 and a beta of 0.75. Plexus has a 12-month low of $47.63 and a 12-month high of $66.98.

A number of analysts recently weighed in on PLXS shares. BidaskClub cut shares of Plexus from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Sidoti started coverage on shares of Plexus in a research report on Wednesday, March 20th. They set a “buy” rating and a $78.00 price target for the company. Zacks Investment Research raised shares of Plexus from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Wednesday, January 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price target on shares of Plexus in a research report on Tuesday, April 23rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Plexus presently has a consensus rating of “Hold” and a consensus price target of $70.00.

In other Plexus news, VP Ronnie Darroch sold 4,325 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $60.56, for a total value of $261,922.00. Following the completion of the transaction, the vice president now directly owns 8,451 shares of the company’s stock, valued at approximately $511,792.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael V. Schrock sold 5,000 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $60.47, for a total transaction of $302,350.00. Following the completion of the transaction, the director now directly owns 32,894 shares of the company’s stock, valued at $1,989,100.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 94,493 shares of company stock valued at $5,895,704. 3.90% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. Schaper Benz & Wise Investment Counsel Inc. WI acquired a new stake in shares of Plexus in the 1st quarter valued at about $398,000. Legal & General Group Plc raised its stake in Plexus by 5.4% during the third quarter. Legal & General Group Plc now owns 89,301 shares of the technology company’s stock worth $5,227,000 after acquiring an additional 4,587 shares during the period. Hsbc Holdings PLC raised its stake in Plexus by 15.6% during the fourth quarter. Hsbc Holdings PLC now owns 7,369 shares of the technology company’s stock worth $376,000 after acquiring an additional 995 shares during the period. Geode Capital Management LLC raised its stake in Plexus by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 386,839 shares of the technology company’s stock worth $19,759,000 after acquiring an additional 12,686 shares during the period. Finally, Federated Investors Inc. PA acquired a new stake in Plexus during the third quarter worth about $92,000. Institutional investors and hedge funds own 96.37% of the company’s stock.

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About Plexus

Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers design and development, supply chain, new product introduction, and manufacturing solutions, as well as aftermarket services. The company provides its solutions to companies in the healthcare and life sciences, industrial and commercial, communications, and aerospace and defense sectors.

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Earnings History for Plexus (NASDAQ:PLXS)

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