Zacks Research Research Analysts Lower Earnings Estimates for Plexus Corp. (NASDAQ:PLXS)

Plexus Corp. (NASDAQ:PLXS) – Analysts at Zacks Research cut their Q3 2024 EPS estimates for Plexus in a research report issued on Wednesday, March 27th. Zacks Research analyst H. Sadavartia now forecasts that the technology company will earn $1.06 per share for the quarter, down from their previous forecast of $1.08. The consensus estimate for Plexus’ current full-year earnings is $4.27 per share. Zacks Research also issued estimates for Plexus’ Q4 2024 earnings at $1.35 EPS, FY2024 earnings at $4.31 EPS, Q1 2025 earnings at $1.46 EPS, Q2 2025 earnings at $1.21 EPS, Q3 2025 earnings at $1.45 EPS, Q4 2025 earnings at $1.75 EPS, FY2025 earnings at $5.87 EPS and FY2026 earnings at $6.66 EPS.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings data on Thursday, January 25th. The technology company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.01). Plexus had a net margin of 3.08% and a return on equity of 12.16%. The firm had revenue of $982.61 million for the quarter, compared to analysts’ expectations of $982.57 million. During the same period in the prior year, the firm posted $1.49 EPS. Plexus’s revenue was down 10.2% on a year-over-year basis.

PLXS has been the subject of several other reports. TheStreet lowered shares of Plexus from a “b” rating to a “c+” rating in a research report on Tuesday, February 13th. Needham & Company LLC reduced their price objective on shares of Plexus from $110.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Benchmark reaffirmed a “buy” rating and set a $110.00 target price on shares of Plexus in a research note on Wednesday, January 17th. Finally, Sidoti lowered shares of Plexus from a “buy” rating to a “neutral” rating and set a $112.00 price objective for the company. in a report on Tuesday, January 9th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $109.67.

Plexus Trading Up 2.7 %

Shares of PLXS stock opened at $93.36 on Thursday. The company has a market capitalization of $2.58 billion, a PE ratio of 20.79 and a beta of 1.02. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.62 and a current ratio of 1.52. The business’s fifty day moving average is $94.66 and its 200 day moving average is $97.83. Plexus has a 52-week low of $83.84 and a 52-week high of $114.06.

Institutional Investors Weigh In On Plexus

Institutional investors have recently bought and sold shares of the business. Thrivent Financial for Lutherans lifted its holdings in Plexus by 234.0% in the 1st quarter. Thrivent Financial for Lutherans now owns 596,047 shares of the technology company’s stock worth $58,157,000 after purchasing an additional 417,598 shares in the last quarter. Norges Bank purchased a new stake in Plexus in the 4th quarter worth $32,856,000. Vanguard Group Inc. boosted its holdings in shares of Plexus by 5.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,215,591 shares of the technology company’s stock valued at $281,557,000 after purchasing an additional 163,722 shares during the last quarter. Westfield Capital Management Co. LP grew its position in shares of Plexus by 108.8% during the fourth quarter. Westfield Capital Management Co. LP now owns 298,262 shares of the technology company’s stock valued at $32,251,000 after purchasing an additional 155,447 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Plexus by 86.7% in the fourth quarter. Millennium Management LLC now owns 303,571 shares of the technology company’s stock worth $31,247,000 after purchasing an additional 140,951 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Transactions at Plexus

In other Plexus news, CEO Todd P. Kelsey sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $94.00, for a total transaction of $188,000.00. Following the transaction, the chief executive officer now owns 121,310 shares in the company, valued at approximately $11,403,140. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Todd P. Kelsey sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $94.00, for a total transaction of $188,000.00. Following the completion of the sale, the chief executive officer now directly owns 121,310 shares in the company, valued at $11,403,140. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael J. Running sold 542 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $95.60, for a total transaction of $51,815.20. Following the completion of the transaction, the insider now owns 1,569 shares in the company, valued at $149,996.40. The disclosure for this sale can be found here. Insiders sold 34,453 shares of company stock worth $3,324,075 over the last quarter. 2.39% of the stock is currently owned by insiders.

Plexus Company Profile

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.