Plexus Corp. (NASDAQ:PLXS) Expected to Announce Earnings of $0.82 Per Share

Equities analysts expect that Plexus Corp. (NASDAQ:PLXS) will report earnings per share of $0.82 for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Plexus’ earnings, with the lowest EPS estimate coming in at $0.81 and the highest estimate coming in at $0.82. Plexus posted earnings of $0.79 per share during the same quarter last year, which would indicate a positive year over year growth rate of 3.8%. The business is expected to announce its next quarterly earnings results after the market closes on Wednesday, July 17th.

According to Zacks, analysts expect that Plexus will report full year earnings of $3.46 per share for the current fiscal year, with EPS estimates ranging from $3.43 to $3.48. For the next year, analysts forecast that the business will post earnings of $4.06 per share, with EPS estimates ranging from $3.97 to $4.15. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that follow Plexus.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings data on Wednesday, April 17th. The technology company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.05). The company had revenue of $789.10 million for the quarter, compared to analysts’ expectations of $779.03 million. Plexus had a net margin of 4.79% and a return on equity of 12.52%. Plexus’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the firm earned $0.74 earnings per share.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Granite Point Mortgage Trust from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. BidaskClub upgraded shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 28th. Sidoti set a $72.00 target price on shares of Plexus and gave the company a “buy” rating in a research report on Friday, June 14th. Finally, Needham & Company LLC boosted their target price on shares of Lam Research from $180.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $68.00.

Shares of PLXS traded up $0.53 during trading hours on Friday, reaching $59.78. 135,816 shares of the company traded hands, compared to its average volume of 166,834. The company has a market capitalization of $1.80 billion, a PE ratio of 18.51 and a beta of 0.99. The company has a quick ratio of 0.88, a current ratio of 1.83 and a debt-to-equity ratio of 0.21. Plexus has a 12-month low of $47.63 and a 12-month high of $66.98. The stock has a fifty day simple moving average of $54.91.

In related news, CEO Todd P. Kelsey sold 10,693 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 87,548 shares in the company, valued at $5,330,797.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Patrick John Jermain sold 4,475 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $60.41, for a total transaction of $270,334.75. Following the transaction, the chief financial officer now owns 33,611 shares of the company’s stock, valued at $2,030,440.51. The disclosure for this sale can be found here. Insiders have sold 24,493 shares of company stock valued at $1,485,704 over the last 90 days. 3.90% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Schaper Benz & Wise Investment Counsel Inc. WI acquired a new position in shares of Plexus in the first quarter worth about $398,000. Hsbc Holdings PLC raised its position in shares of Plexus by 15.6% in 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 position in shares of Plexus by 3.4% in 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. Citigroup Inc. raised its position in shares of Plexus by 267.2% in the fourth quarter. Citigroup Inc. now owns 21,196 shares of the technology company’s stock worth $1,083,000 after acquiring an additional 15,423 shares during the period. Finally, Two Sigma Investments LP acquired a new position in shares of Plexus in the fourth quarter worth about $780,000. Institutional investors own 94.51% of the company’s stock.

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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