Plexus (NASDAQ:PLXS) Issues Q4 2019 Earnings Guidance

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Plexus (NASDAQ:PLXS) updated its fourth quarter 2019 earnings guidance on Wednesday. The company provided EPS guidance of $0.81-0.91 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.96. The company issued revenue guidance of $760-800 million, compared to the consensus revenue estimate of $813.22 million.

Several research firms recently weighed in on PLXS. Sidoti set a $72.00 target price on Plexus and gave the stock a buy rating in a research note on Friday, June 14th. Needham & Company LLC boosted their price objective on Lam Research from $180.00 to $215.00 and gave the company a buy rating in a research note on Tuesday, April 23rd. Zacks Investment Research upgraded Central Garden & Pet from a sell rating to a hold rating in a research note on Wednesday. Finally, BidaskClub cut Weyco Group from a sell rating to a strong sell rating in a research note on Saturday. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $69.67.

PLXS stock traded down $1.53 on Wednesday, reaching $59.87. 382,200 shares of the company’s stock were exchanged, compared to its average volume of 168,350. The company has a fifty day moving average of $55.54. Plexus has a twelve month low of $47.63 and a twelve month high of $66.98. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 18.54 and a beta of 0.99. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.88 and a current ratio of 1.83.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, April 17th. The technology company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.05). Plexus had a net margin of 4.79% and a return on equity of 12.52%. The business had revenue of $789.10 million for the quarter, compared to analyst estimates of $779.03 million. During the same quarter last year, the business earned $0.74 EPS. Plexus’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, equities research analysts forecast that Plexus will post 3.46 EPS for the current fiscal year.

In other Plexus news, VP Ronnie Darroch sold 4,325 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $60.56, for a total transaction of $261,922.00. Following the transaction, the vice president now owns 8,451 shares of the company’s stock, valued at approximately $511,792.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael V. Schrock sold 5,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $60.47, for a total value of $302,350.00. Following the transaction, the director now directly owns 32,894 shares in the company, valued at approximately $1,989,100.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,493 shares of company stock valued at $1,485,704. 3.90% of the stock is owned by insiders.

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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