Plexus (NASDAQ:PLXS) Issues Q4 Earnings Guidance

Plexus (NASDAQ:PLXS) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.50-1.65 for the period, compared to the consensus estimate of $1.36. The company issued revenue guidance of $0.99-1.03 billion, compared to the consensus revenue estimate of $1.02 billion. Plexus also updated its Q4 2024 guidance to 1.500-1.650 EPS.

Analyst Ratings Changes

A number of research firms have weighed in on PLXS. Stifel Nicolaus increased their target price on Plexus from $90.00 to $95.00 and gave the company a hold rating in a report on Friday, April 26th. Needham & Company LLC raised their price objective on shares of Plexus from $107.00 to $114.00 and gave the stock a buy rating in a report on Friday, April 26th. Finally, Benchmark boosted their target price on shares of Plexus from $110.00 to $120.00 and gave the company a buy rating in a research report on Friday, June 21st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Plexus currently has an average rating of Hold and a consensus price target of $110.25.

Plexus Stock Performance

Shares of PLXS stock traded up $13.44 during trading hours on Thursday, reaching $129.59. 510,437 shares of the company traded hands, compared to its average volume of 126,073. The firm has a 50-day moving average price of $107.91 and a 200 day moving average price of $100.90. The company has a market cap of $3.55 billion, a P/E ratio of 35.49 and a beta of 0.90. Plexus has a 12-month low of $87.21 and a 12-month high of $132.46. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.51 and a quick ratio of 0.64.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.17. Plexus had a net margin of 2.54% and a return on equity of 10.77%. The business had revenue of $960.70 million for the quarter, compared to the consensus estimate of $981.32 million. During the same quarter in the previous year, the firm earned $1.32 earnings per share. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, sell-side analysts predict that Plexus will post 3.67 earnings per share for the current fiscal year.

Insider Activity at Plexus

In related news, CEO Todd P. Kelsey sold 1,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $102.10, for a total value of $102,100.00. Following the sale, the chief executive officer now owns 113,810 shares in the company, valued at $11,620,001. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Todd P. Kelsey sold 1,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $102.10, for a total value of $102,100.00. Following the completion of the sale, the chief executive officer now owns 113,810 shares in the company, valued at approximately $11,620,001. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd P. Kelsey sold 1,656 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $115.00, for a total value of $190,440.00. Following the transaction, the chief executive officer now owns 96,682 shares of the company’s stock, valued at approximately $11,118,430. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,386 shares of company stock valued at $3,749,884. Insiders own 2.39% of the company’s stock.

Plexus Company Profile

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.