Benchmark Electronics (NYSE:BHE) declared that its Board of Directors has approved a stock buyback program, which allows the company to buyback $250.00 million in shares on Wednesday, March 7th. This buyback authorization allows the technology company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
Shares of Benchmark Electronics stock traded down $0.70 during trading on Monday, hitting $29.15. 304,048 shares of the company’s stock traded hands, compared to its average volume of 410,151. Benchmark Electronics has a 1 year low of $27.05 and a 1 year high of $35.80. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.38 and a quick ratio of 2.55. The stock has a market capitalization of $1,454.56, a PE ratio of 18.11 and a beta of 0.38.
Benchmark Electronics (NYSE:BHE) last posted its earnings results on Wednesday, February 7th. The technology company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.12. Benchmark Electronics had a positive return on equity of 5.83% and a negative net margin of 1.30%. The company had revenue of $679.86 million for the quarter.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 11th. Stockholders of record on Thursday, March 29th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Wednesday, March 28th. Benchmark Electronics’s dividend payout ratio (DPR) is currently 37.27%.
Separately, TheStreet cut Benchmark Electronics from a “b-” rating to a “c” rating in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $36.67.
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About Benchmark Electronics
Benchmark Electronics, Inc is a provider of electronic manufacturing services. The Company operates through three segments: the Americas, Asia and Europe. It provides services to original equipment manufacturers of industrial control equipment, including equipment for the aerospace and defense industry; telecommunication equipment; computers and related products for business enterprises; medical devices, and testing and instrumentation products.
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