Plexus (NASDAQ:PLXS) updated its third quarter 2019 earnings guidance on Wednesday. The company provided EPS guidance of $0.76-0.86 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.93. The company issued revenue guidance of $760-800 million, compared to the consensus revenue estimate of $804.65 million.Plexus also updated its Q3 guidance to $0.80-0.90 EPS.
A number of brokerages have issued reports on PLXS. Zacks Investment Research raised shares of Plexus from a sell rating to a hold rating in a research note on Friday, February 15th. BidaskClub raised shares of Plexus from a hold rating to a buy rating in a research note on Friday, April 5th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $72.00 price objective on shares of Plexus in a research note on Tuesday, April 23rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $70.00.
Shares of NASDAQ PLXS traded down $0.24 during midday trading on Friday, reaching $58.55. 84,954 shares of the stock were exchanged, compared to its average volume of 170,465. The stock has a market cap of $1.77 billion, a price-to-earnings 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. The company has a quick ratio of 0.88, a current ratio of 1.83 and a debt-to-equity ratio of 0.21.
In other news, CEO Todd P. Kelsey sold 10,693 shares of Plexus stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $60.89, for a total transaction of $651,096.77. Following the transaction, the chief executive officer now directly owns 87,548 shares of the company’s stock, valued at $5,330,797.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Dean A. Foate sold 60,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $63.00, for a total transaction of $3,780,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 94,493 shares of company stock worth $5,895,704. Insiders own 3.90% of the company’s stock.
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Plexus Company Profile
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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