Plexus (NASDAQ:PLXS) Releases Earnings Results, Beats Estimates By $0.22 EPS

Plexus (NASDAQ:PLXS) posted its earnings results on Tuesday. The technology company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.22, MarketWatch Earnings reports. Plexus had a net margin of 4.35% and a return on equity of 15.55%. The firm had revenue of $814.39 million during the quarter, compared to analyst estimates of $797.24 million. During the same period last year, the firm posted $1.20 earnings per share. Plexus’s revenue for the quarter was down 5.0% compared to the same quarter last year.

Shares of PLXS stock traded down $1.62 on Thursday, hitting $85.96. The stock had a trading volume of 568 shares, compared to its average volume of 99,315. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.04 and a current ratio of 1.88. The business has a 50 day moving average price of $92.79. The company has a market capitalization of $2.46 billion, a P/E ratio of 17.14 and a beta of 1.20. Plexus has a one year low of $64.35 and a one year high of $101.17.

In other Plexus news, VP Ronnie Darroch sold 1,000 shares of the business’s stock in a transaction dated Monday, April 26th. The shares were sold at an average price of $94.17, for a total value of $94,170.00. Following the completion of the transaction, the vice president now directly owns 5,591 shares in the company, valued at $526,504.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd P. Kelsey sold 3,000 shares of the business’s stock in a transaction dated Friday, May 7th. The stock was sold at an average price of $94.23, for a total transaction of $282,690.00. Following the completion of the transaction, the chief executive officer now owns 91,657 shares of the company’s stock, valued at $8,636,839.11. The disclosure for this sale can be found here. Insiders sold 11,076 shares of company stock valued at $1,045,755 over the last 90 days. 2.38% of the stock is currently owned by corporate insiders.

PLXS has been the subject of a number of recent research reports. Raymond James set a $85.73 target price on shares of Plexus and gave the company a “hold” rating in a report on Monday. Needham & Company LLC lifted their price objective on shares of Plexus from $102.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, May 25th. Zacks Investment Research raised shares of Plexus from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a research note on Monday, April 26th. Sidoti raised shares of Plexus from a “neutral” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Tuesday, June 22nd. Finally, Loop Capital lifted their price objective on shares of Plexus from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, June 11th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $95.25.

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 to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.

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Earnings History for Plexus (NASDAQ:PLXS)

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