Plexus Corp. (PLXS) Expected to Post Earnings of $0.85 Per Share

Brokerages expect Plexus Corp. (NASDAQ:PLXS) to post earnings per share (EPS) of $0.85 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Plexus’ earnings. The lowest EPS estimate is $0.84 and the highest is $0.85. Plexus reported earnings per share of $0.74 during the same quarter last year, which indicates a positive year over year growth rate of 14.9%. The firm is scheduled to announce its next earnings results after the market closes on Wednesday, April 17th.

On average, analysts expect that Plexus will report full-year earnings of $3.71 per share for the current fiscal year, with EPS estimates ranging from $3.67 to $3.74. For the next fiscal year, analysts anticipate that the firm will post earnings of $4.23 per share, with EPS estimates ranging from $4.13 to $4.33. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Plexus.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, January 16th. The technology company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.01. The firm had revenue of $765.54 million for the quarter, compared to analyst estimates of $768.32 million. Plexus had a net margin of 4.52% and a return on equity of 12.44%. Plexus’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 earnings per share.

Several research analysts have recently commented on PLXS shares. BidaskClub lowered shares of Plexus from a “hold” rating to a “sell” rating in a research note on Tuesday, December 18th. Zacks Investment Research upgraded shares of Plexus from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Wednesday, January 16th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $69.33.

In other news, VP Ronnie Darroch sold 3,454 shares of the stock in a transaction on Friday, February 1st. The shares were sold at an average price of $56.44, for a total transaction of $194,943.76. Following the transaction, the vice president now owns 8,489 shares in the company, valued at approximately $479,119.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stephen P. Cortinovis sold 5,000 shares of the firm’s stock in a transaction on Tuesday, January 22nd. The shares were sold at an average price of $54.03, for a total transaction of $270,150.00. Following the completion of the transaction, the director now owns 32,128 shares in the company, valued at $1,735,875.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,454 shares of company stock worth $4,875,094. 3.90% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its stake in Plexus by 0.6% during the 4th quarter. BlackRock Inc. now owns 4,627,028 shares of the technology company’s stock valued at $236,350,000 after purchasing an additional 25,893 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Plexus by 1.0% in the third quarter. Vanguard Group Inc. now owns 3,366,412 shares of the technology company’s stock worth $196,968,000 after buying an additional 32,225 shares during the period. Vanguard Group Inc grew its position in shares of Plexus by 1.0% during the third quarter. Vanguard Group Inc now owns 3,366,412 shares of the technology company’s stock worth $196,968,000 after purchasing an additional 32,225 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in shares of Plexus by 2.3% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,971,726 shares of the technology company’s stock worth $173,876,000 after purchasing an additional 67,180 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of Plexus by 1.0% during the 4th quarter. Fisher Asset Management LLC now owns 716,346 shares of the technology company’s stock worth $36,591,000 after acquiring an additional 7,306 shares during the last quarter. 96.45% of the stock is currently owned by institutional investors and hedge funds.

PLXS traded down $0.48 on Friday, hitting $65.77. 1,541 shares of the company’s stock were exchanged, compared to its average volume of 153,986. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 20.37 and a beta of 0.77. Plexus has a twelve month low of $47.63 and a twelve month high of $66.57. The company has a quick ratio of 0.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.21.

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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