Sanmina (NASDAQ:SANM) Issues Q3 2024 Earnings Guidance

Sanmina (NASDAQ:SANM) updated its third quarter 2024 earnings guidance on Monday. The company provided EPS guidance of 1.220-1.320 for the period, compared to the consensus EPS estimate of 1.320. The company issued revenue guidance of $1.8 billion-$1.9 billion, compared to the consensus revenue estimate of $2.0 billion. Sanmina also updated its Q3 guidance to $1.22-1.32 EPS.

Wall Street Analyst Weigh In

Separately, Fox Advisors initiated coverage on shares of Sanmina in a research report on Wednesday, March 6th. They issued an overweight rating and a $80.00 target price for the company.

Sanmina Trading Up 1.6 %

Shares of SANM traded up $1.03 during trading on Monday, reaching $64.00. 622,168 shares of the company traded hands, compared to its average volume of 495,152. Sanmina has a twelve month low of $43.40 and a twelve month high of $69.69. The stock has a market cap of $3.64 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 0.93 and a beta of 1.04. The stock has a 50-day simple moving average of $61.22 and a 200-day simple moving average of $55.31. The company has a quick ratio of 1.23, a current ratio of 1.99 and a debt-to-equity ratio of 0.14.

Sanmina (NASDAQ:SANM) last announced its quarterly earnings results on Monday, April 29th. The electronics maker reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.15. Sanmina had a net margin of 3.25% and a return on equity of 13.16%. The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period last year, the business earned $1.37 earnings per share. The business’s revenue for the quarter was down 20.9% on a year-over-year basis. On average, analysts anticipate that Sanmina will post 5 earnings per share for the current year.

Insider Activity at Sanmina

In other Sanmina news, Director Susan A. Johnson sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $60.64, for a total transaction of $60,640.00. Following the completion of the transaction, the director now owns 7,811 shares in the company, valued at approximately $473,659.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.09% of the company’s stock.

Sanmina Company Profile

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two businesses, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, manufacturing design release, and product industrialization; assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services, as well as engages in the manufacturing of components, subassemblies, and complete systems.