Benchmark Electronics (NYSE:BHE) Releases Q3 Earnings Guidance

Benchmark Electronics (NYSE:BHE) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.52-$0.58 for the period, compared to the consensus estimate of $0.53. The company issued revenue guidance of $630-$670 million, compared to the consensus revenue estimate of $647.15 million. Benchmark Electronics also updated its Q3 2024 guidance to 0.520-0.580 EPS.

Analyst Ratings Changes

Several analysts recently commented on the company. Needham & Company LLC raised their target price on Benchmark Electronics from $40.00 to $45.00 and gave the stock a buy rating in a report on Wednesday. StockNews.com raised Benchmark Electronics from a hold rating to a buy rating in a report on Wednesday. Lake Street Capital raised their target price on Benchmark Electronics from $35.00 to $46.00 and gave the stock a buy rating in a report on Wednesday. Fox Advisors downgraded Benchmark Electronics from an overweight rating to an equal weight rating in a research report on Wednesday, May 15th. Finally, Sidoti downgraded Benchmark Electronics from a buy rating to a neutral rating and set a $33.00 price target on the stock. in a research report on Monday, April 29th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Benchmark Electronics currently has a consensus rating of Moderate Buy and a consensus target price of $41.33.

Benchmark Electronics Price Performance

BHE stock traded down $2.03 during mid-day trading on Friday, reaching $41.63. 74,350 shares of the company’s stock were exchanged, compared to its average volume of 340,245. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 23.84 and a beta of 0.99. The stock’s 50 day moving average is $41.07 and its 200 day moving average is $34.66. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.36 and a quick ratio of 1.41. Benchmark Electronics has a 12-month low of $22.66 and a 12-month high of $48.58.

Benchmark Electronics (NYSE:BHE) last released its earnings results on Tuesday, July 30th. The technology company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.06. The business had revenue of $666.00 million for the quarter, compared to the consensus estimate of $635.75 million. Benchmark Electronics had a return on equity of 7.21% and a net margin of 2.45%. The business’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 earnings per share.

Benchmark Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were given a $0.165 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.66 annualized dividend and a dividend yield of 1.59%. Benchmark Electronics’s dividend payout ratio (DPR) is presently 36.07%.

Insider Activity

In other news, Director Jeffrey Stephen Mccreary sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $39.49, for a total value of $394,900.00. Following the transaction, the director now owns 45,062 shares in the company, valued at $1,779,498.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Jeffrey Stephen Mccreary sold 10,000 shares of Benchmark Electronics stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $39.49, for a total transaction of $394,900.00. Following the transaction, the director now owns 45,062 shares in the company, valued at $1,779,498.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Arvind Kamal sold 783 shares of Benchmark Electronics stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $38.38, for a total value of $30,051.54. Following the transaction, the chief financial officer now owns 20,735 shares in the company, valued at approximately $795,809.30. The disclosure for this sale can be found here. Insiders have sold a total of 17,560 shares of company stock worth $688,374 over the last quarter. 2.10% of the stock is currently owned by corporate insiders.

About Benchmark Electronics

Benchmark Electronics, Inc, together with its subsidiaries, offers product design, engineering services, technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company provides engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing and technology solutions, as well as automation equipment design and build services.