Zacks: Brokerages Expect Plexus Corp. (NASDAQ:PLXS) to Post $0.93 Earnings Per Share

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Equities research analysts expect Plexus Corp. (NASDAQ:PLXS) to post earnings per share of $0.93 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Plexus’ earnings. Plexus posted earnings per share of $0.91 in the same quarter last year, which suggests a positive year-over-year growth rate of 2.2%. The company is scheduled to issue its next quarterly earnings report on Wednesday, January 15th.

According to Zacks, analysts expect that Plexus will report full year earnings of $4.09 per share for the current fiscal year. For the next year, analysts anticipate that the company will post earnings of $4.59 per share, with EPS estimates ranging from $4.45 to $4.73. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Plexus.

Plexus (NASDAQ:PLXS) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.07. The business had revenue of $810.00 million during the quarter, compared to analyst estimates of $776.02 million. Plexus had a return on equity of 12.16% and a net margin of 3.43%. Plexus’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.96 earnings per share.

PLXS has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded 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. Sidoti lowered shares of Plexus from a “buy” rating to a “neutral” rating in a research report on Friday, October 25th. Finally, BidaskClub raised shares of Plexus from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 15th.

In other news, VP Steven J. Frisch sold 4,250 shares of Plexus stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $73.04, for a total transaction of $310,420.00. Following the sale, the vice president now owns 37,501 shares in the company, valued at $2,739,073.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Dean A. Foate sold 27,750 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $73.47, for a total transaction of $2,038,792.50. Following the completion of the transaction, the chairman now directly owns 211,753 shares in the company, valued at approximately $15,557,492.91. The disclosure for this sale can be found here. In the last ninety days, insiders sold 203,125 shares of company stock valued at $14,982,228. Corporate insiders own 3.90% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund raised its position in shares of Plexus by 1.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 12,386 shares of the technology company’s stock valued at $723,000 after purchasing an additional 200 shares during the last quarter. First Trust Advisors LP bought a new position in Plexus during the second quarter worth $1,746,000. Municipal Employees Retirement System of Michigan boosted its stake in Plexus by 48.3% during the second quarter. Municipal Employees Retirement System of Michigan now owns 13,480 shares of the technology company’s stock worth $787,000 after acquiring an additional 4,390 shares in the last quarter. Tocqueville Asset Management L.P. grew its holdings in Plexus by 10.0% in the second quarter. Tocqueville Asset Management L.P. now owns 125,400 shares of the technology company’s stock worth $7,320,000 after purchasing an additional 11,400 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Plexus by 6.7% in the second quarter. Envestnet Asset Management Inc. now owns 22,663 shares of the technology company’s stock worth $1,323,000 after purchasing an additional 1,416 shares during the period. Institutional investors own 95.15% of the company’s stock.

Shares of PLXS stock traded down $0.21 during trading hours on Tuesday, reaching $74.46. 103,084 shares of the company traded hands, compared to its average volume of 170,192. The firm has a 50-day moving average price of $72.63 and a 200 day moving average price of $61.47. The company has a market cap of $2.21 billion, a P/E ratio of 21.71 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 0.97. Plexus has a 12-month low of $47.63 and a 12-month high of $77.64.

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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