Benchmark Electronics (NYSE:BHE) Releases Q2 Earnings Guidance

Benchmark Electronics (NYSE:BHEGet Rating) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.39-0.45 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.37. The company issued revenue guidance of $615-655 million, compared to the consensus revenue estimate of $593.70 million.Benchmark Electronics also updated its Q2 2022 guidance to $0.390-$0.450 EPS.

Separately, StockNews.com began coverage on Benchmark Electronics in a research report on Thursday, March 31st. They set a hold rating for the company.

Shares of Benchmark Electronics stock traded down $0.30 during midday trading on Tuesday, hitting $23.43. 174,484 shares of the company were exchanged, compared to its average volume of 170,837. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.06 and a quick ratio of 1.26. The firm has a market cap of $826.09 million, a P/E ratio of 23.43 and a beta of 1.01. Benchmark Electronics has a 52 week low of $22.25 and a 52 week high of $32.32. The firm has a 50 day simple moving average of $25.11 and a 200-day simple moving average of $25.36.

Benchmark Electronics (NYSE:BHEGet Rating) last posted its earnings results on Thursday, February 3rd. The technology company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.07. The business had revenue of $633.05 million during the quarter. Benchmark Electronics had a return on equity of 5.01% and a net margin of 1.59%. During the same quarter last year, the business earned $0.34 EPS.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 14th. Shareholders of record on Thursday, March 31st were given a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $0.66 annualized dividend and a yield of 2.82%. Benchmark Electronics’s payout ratio is 66.00%.

A number of institutional investors and hedge funds have recently modified their holdings of BHE. Norges Bank bought a new position in Benchmark Electronics in the 4th quarter valued at $9,937,000. BlackRock Inc. raised its position in Benchmark Electronics by 3.3% in the 4th quarter. BlackRock Inc. now owns 5,835,778 shares of the technology company’s stock valued at $158,149,000 after purchasing an additional 184,738 shares during the last quarter. Morgan Stanley raised its position in Benchmark Electronics by 121.4% in the 2nd quarter. Morgan Stanley now owns 243,622 shares of the technology company’s stock valued at $6,933,000 after purchasing an additional 133,609 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of Benchmark Electronics by 15.7% during the fourth quarter. Nuveen Asset Management LLC now owns 312,287 shares of the technology company’s stock worth $8,463,000 after acquiring an additional 42,357 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Benchmark Electronics by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 631,630 shares of the technology company’s stock worth $17,117,000 after acquiring an additional 36,420 shares during the last quarter. Hedge funds and other institutional investors own 92.35% of the company’s stock.

Benchmark Electronics Company Profile (Get Rating)

Benchmark Electronics, Inc, together with its subsidiaries, provides product design, engineering services, technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company offers engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing and technology solutions, as well as automation equipment design and build services.

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