Plexus (PLXS) Scheduled to Post Earnings on Wednesday

Plexus (NASDAQ:PLXS) will be announcing its earnings results after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.77 per share for the quarter. Plexus has set its Q2 2024 guidance at 0.480-0.630 EPS.Parties interested in participating in the company’s conference call can do so using this link.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Thursday, January 25th. The technology company reported $1.04 earnings per share 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 company had revenue of $982.61 million for the quarter, compared to analysts’ expectations of $982.57 million. During the same quarter last year, the business posted $1.49 EPS. The business’s quarterly revenue was down 10.2% compared to the same quarter last year. On average, analysts expect Plexus to post $4 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Plexus Price Performance

PLXS stock opened at $94.92 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.62 and a current ratio of 1.52. Plexus has a 52 week low of $83.84 and a 52 week high of $114.06. The firm’s fifty day moving average is $94.53 and its 200 day moving average is $98.35. The firm has a market cap of $2.62 billion, a P/E ratio of 21.14 and a beta of 1.02.

Analyst Ratings Changes

PLXS has been the topic of several recent research reports. Benchmark reaffirmed a “buy” rating and set a $110.00 target price on shares of Plexus in a report on Wednesday, January 17th. Sidoti lowered shares of Plexus from a “buy” rating to a “neutral” rating and set a $112.00 price target on the stock. in a report on Tuesday, January 9th. Needham & Company LLC cut their price target on shares of Plexus from $110.00 to $107.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Finally, TheStreet lowered shares of Plexus from a “b” rating to a “c+” rating in a report on Tuesday, February 13th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Plexus presently has an average rating of “Moderate Buy” and an average price target of $109.67.

Insider Transactions at Plexus

In other news, CEO Todd P. Kelsey sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $94.00, for a total value of $188,000.00. Following the completion of the sale, the chief executive officer now directly owns 121,310 shares of the company’s stock, valued at approximately $11,403,140. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Todd P. Kelsey sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $94.00, for a total value of $188,000.00. Following the completion of the sale, the chief executive officer now directly owns 121,310 shares of the company’s stock, valued at approximately $11,403,140. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Patrick John Jermain sold 2,532 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $92.51, for a total transaction of $234,235.32. Following the completion of the sale, the chief financial officer now directly owns 54,651 shares of the company’s stock, valued at $5,055,764.01. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,453 shares of company stock valued at $3,112,875. Company insiders own 2.39% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. lifted its position in Plexus by 0.3% during the 1st quarter. BlackRock Inc. now owns 4,425,537 shares of the technology company’s stock valued at $362,052,000 after acquiring an additional 15,398 shares during the period. Vanguard Group Inc. lifted its position in 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 acquiring an additional 163,722 shares during the period. State Street Corp raised its holdings in Plexus by 0.9% in the second quarter. State Street Corp now owns 963,385 shares of the technology company’s stock worth $94,643,000 after buying an additional 8,122 shares during the last quarter. Silvercrest Asset Management Group LLC raised its holdings in Plexus by 13.5% in the first quarter. Silvercrest Asset Management Group LLC now owns 615,117 shares of the technology company’s stock worth $60,017,000 after buying an additional 73,144 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in Plexus by 234.0% in the first quarter. Thrivent Financial for Lutherans now owns 596,047 shares of the technology company’s stock worth $58,157,000 after buying an additional 417,598 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

About Plexus

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.