Wall Street analysts expect Plexus Corp. (NASDAQ:PLXS) to report sales of $778.17 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Plexus’ earnings, with the lowest sales estimate coming in at $776.83 million and the highest estimate coming in at $779.50 million. Plexus reported sales of $771.18 million during the same quarter last year, which indicates a positive year-over-year growth rate of 0.9%. The business is expected to report its next quarterly earnings report after the market closes on Wednesday, October 23rd.
On average, analysts expect that Plexus will report full year sales of $3.13 billion for the current fiscal year. For the next fiscal year, analysts forecast that the business will report sales of $3.33 billion, with estimates ranging from $3.32 billion to $3.34 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Plexus.
Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, July 17th. The technology company reported $0.81 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.81. The firm had revenue of $799.64 million for the quarter, compared to analyst estimates of $783.30 million. Plexus had a net margin of 4.62% and a return on equity of 12.40%. Plexus’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the company posted $0.79 EPS.
A number of research analysts have weighed in on PLXS shares. Zacks Investment Research raised shares of Plexus from a “sell” rating to a “hold” rating and set a $60.00 target price on the stock in a research note on Monday, September 2nd. BidaskClub raised shares of Plexus from a “buy” rating to a “strong-buy” rating in a research note on Tuesday.
Plexus stock traded down $0.33 during midday trading on Monday, reaching $64.38. The company had a trading volume of 81,015 shares, compared to its average volume of 127,749. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 0.91. The firm’s fifty day simple moving average is $61.77 and its 200-day simple moving average is $58.80. Plexus has a 12-month low of $47.63 and a 12-month high of $66.98. The company has a market capitalization of $1.89 billion, a P/E ratio of 19.93 and a beta of 0.96.
In other Plexus news, Chairman Dean A. Foate sold 6,832 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $63.00, for a total value of $430,416.00. Following the transaction, the chairman now directly owns 227,921 shares of the company’s stock, valued at approximately $14,359,023. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Ronnie Darroch sold 4,045 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $57.09, for a total transaction of $230,929.05. Following the completion of the transaction, the vice president now directly owns 8,282 shares in the company, valued at $472,819.38. The disclosure for this sale can be found here. Insiders sold a total of 28,980 shares of company stock worth $1,737,525 over the last three months. Corporate insiders own 3.90% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. A.R.T. Advisors LLC purchased a new position in Plexus in the 2nd quarter worth approximately $347,000. Laurion Capital Management LP acquired a new stake in shares of Plexus during the 2nd quarter worth approximately $465,000. Jane Street Group LLC acquired a new stake in shares of Plexus during the 2nd quarter worth approximately $480,000. Paloma Partners Management Co increased its holdings in shares of Plexus by 75.8% during the 2nd quarter. Paloma Partners Management Co now owns 9,895 shares of the technology company’s stock worth $578,000 after buying an additional 4,266 shares during the last quarter. Finally, Holocene Advisors LP increased its holdings in shares of Plexus by 5.4% during the 2nd quarter. Holocene Advisors LP now owns 11,692 shares of the technology company’s stock worth $682,000 after buying an additional 603 shares during the last quarter. 95.43% of the stock is currently owned by institutional investors and hedge funds.
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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