$0.86 Earnings Per Share Expected for Plexus Corp. (NASDAQ:PLXS) This Quarter

Brokerages predict that Plexus Corp. (NASDAQ:PLXS) will post earnings of $0.86 per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Plexus’ earnings. Plexus posted earnings of $0.96 per share during the same quarter last year, which suggests a negative year over year growth rate of 10.4%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, October 23rd.

According to Zacks, analysts expect that Plexus will report full-year earnings of $3.37 per share for the current financial year. For the next fiscal year, analysts anticipate that the business will report earnings of $3.92 per share, with EPS estimates ranging from $3.86 to $3.97. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Plexus.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, July 17th. The technology company reported $0.81 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.81. The firm had revenue of $799.64 million during the quarter, compared to analysts’ expectations of $783.30 million. Plexus had a net margin of 4.62% and a return on equity of 12.40%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 earnings per share.

PLXS has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 target price on shares of Plexus in a report on Tuesday, April 23rd. BidaskClub raised shares of Plexus from a “buy” rating to a “strong-buy” rating in a report on Thursday. Sidoti set a $72.00 target price on shares of Plexus and gave the company a “buy” rating in a report on Friday, June 14th. Finally, Zacks Investment Research raised shares of Plexus from a “sell” rating to a “hold” rating and set a $62.00 target price for the company in a report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Plexus currently has an average rating of “Buy” and an average price target of $68.67.

NASDAQ PLXS traded down $1.24 during trading hours on Friday, hitting $58.52. 230,809 shares of the stock were exchanged, compared to its average volume of 216,936. The company has a market cap of $1.80 billion, a P/E ratio of 18.12 and a beta of 0.97. Plexus has a 12-month low of $47.63 and a 12-month high of $66.98. The stock has a 50-day moving average of $57.64. The company has a current ratio of 1.78, a quick ratio of 0.91 and a debt-to-equity ratio of 0.22.

In other news, Director Ralf R. Boer sold 2,500 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $58.64, for a total value of $146,600.00. Following the sale, the director now directly owns 29,964 shares in the company, valued at $1,757,088.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd P. Kelsey sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $59.85, for a total transaction of $119,700.00. Following the completion of the sale, the chief executive officer now owns 77,855 shares in the company, valued at $4,659,621.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,030 shares of company stock valued at $534,979. 3.90% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in PLXS. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Plexus by 15.6% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 240,108 shares of the technology company’s stock worth $14,015,000 after purchasing an additional 32,409 shares in the last quarter. Swiss National Bank raised its holdings in shares of Plexus by 0.9% in the 2nd quarter. Swiss National Bank now owns 57,500 shares of the technology company’s stock worth $3,356,000 after purchasing an additional 500 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Plexus by 6.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 22,663 shares of the technology company’s stock worth $1,323,000 after purchasing an additional 1,416 shares in the last quarter. Tocqueville Asset Management L.P. raised its holdings in shares of Plexus by 10.0% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 125,400 shares of the technology company’s stock worth $7,320,000 after purchasing an additional 11,400 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its holdings in shares of Plexus by 48.3% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 13,480 shares of the technology company’s stock worth $787,000 after purchasing an additional 4,390 shares in the last quarter. Institutional investors and hedge funds own 94.64% 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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