Q3 2024 EPS Estimates for Plexus Corp. Reduced by Zacks Research (NASDAQ:PLXS)

Plexus Corp. (NASDAQ:PLXS - Free Report) - Equities research analysts at Zacks Research dropped their Q3 2024 earnings per share (EPS) estimates for shares of Plexus in a research report issued on Wednesday, March 27th. Zacks Research analyst H. Sadavartia now forecasts that the technology company will post earnings per share of $1.06 for the quarter, down from their prior estimate of $1.08. The consensus estimate for Plexus' current full-year earnings is $4.27 per share. Zacks Research also issued estimates for Plexus' Q4 2024 earnings at $1.35 EPS, FY2024 earnings at $4.31 EPS, Q1 2025 earnings at $1.46 EPS, Q2 2025 earnings at $1.21 EPS, Q3 2025 earnings at $1.45 EPS, Q4 2025 earnings at $1.75 EPS, FY2025 earnings at $5.87 EPS and FY2026 earnings at $6.66 EPS.

PLXS has been the subject of several other research reports. TheStreet downgraded Plexus from a "b" rating to a "c+" rating in a report on Tuesday, February 13th. Benchmark restated a "buy" rating and set a $110.00 price objective on shares of Plexus in a research note on Wednesday, January 17th. Sidoti downgraded shares of Plexus from a "buy" rating to a "neutral" rating and set a $112.00 target price for the company. in a research note on Tuesday, January 9th. Finally, Needham & Company LLC lowered their price target on Plexus from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, January 25th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $109.67.

Plexus Stock Up 1.6 %

Shares of Plexus stock traded up $1.46 during trading hours on Thursday, reaching $94.82. 180,686 shares of the company's stock were exchanged, compared to its average volume of 122,041. The stock has a market cap of $2.62 billion, a P/E ratio of 21.12 and a beta of 1.02. Plexus has a fifty-two week low of $83.84 and a fifty-two week high of $114.06. The company has a 50 day moving average of $94.62 and a two-hundred day moving average of $97.81. The company has a current ratio of 1.52, a quick ratio of 0.62 and a debt-to-equity ratio of 0.15.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its quarterly earnings data on Thursday, January 25th. The technology company reported $1.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.05 by ($0.01). The business had revenue of $982.61 million during the quarter, compared to analyst estimates of $982.57 million. Plexus had a net margin of 3.08% and a return on equity of 12.16%. Plexus's revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter last year, the business earned $1.49 earnings per share.

Insider Buying and Selling

In related news, CEO Todd P. Kelsey sold 2,000 shares of the business's stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $105.60, for a total value of $211,200.00. Following the completion of the sale, the chief executive officer now directly owns 106,900 shares in the company, valued at approximately $11,288,640. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Todd P. Kelsey sold 2,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $105.60, for a total transaction of $211,200.00. Following the sale, the chief executive officer now owns 106,900 shares of the company's stock, valued at $11,288,640. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Patrick John Jermain sold 2,532 shares of the company's stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $92.51, for a total transaction of $234,235.32. Following the sale, the chief financial officer now directly owns 54,651 shares of the company's stock, valued at approximately $5,055,764.01. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,453 shares of company stock valued at $3,324,075. Company insiders own 2.39% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its stake in shares of Plexus by 72.3% in the 4th quarter. Parallel Advisors LLC now owns 348 shares of the technology company's stock valued at $38,000 after purchasing an additional 146 shares during the last quarter. GAMMA Investing LLC acquired a new position in Plexus during the fourth quarter worth about $44,000. Cetera Trust Company N.A bought a new position in shares of Plexus in the fourth quarter worth about $54,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Plexus during the 4th quarter valued at approximately $66,000. Finally, Tower Research Capital LLC TRC increased its position in Plexus by 680.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 773 shares of the technology company's stock worth $75,000 after purchasing an additional 674 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

About Plexus

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.