Equities analysts expect that Plexus Corp. (NASDAQ:PLXS) will report $800.15 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Plexus' earnings, with estimates ranging from $795.01 million to $806.40 million. Plexus posted sales of $857.39 million during the same quarter last year, which suggests a negative year over year growth rate of 6.7%. The business is scheduled to issue its next earnings results on Wednesday, July 21st.
According to Zacks, analysts expect that Plexus will report full-year sales of $3.38 billion for the current fiscal year, with estimates ranging from $3.37 billion to $3.39 billion. For the next financial year, analysts expect that the firm will report sales of $3.76 billion, with estimates ranging from $3.66 billion to $3.91 billion. Zacks' sales averages are an average based on a survey of analysts that follow Plexus.
Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Tuesday, April 20th. The technology company reported $1.49 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $1.25 by $0.24. Plexus had a net margin of 4.35% and a return on equity of 15.55%. The firm had revenue of $881.00 million for the quarter, compared to the consensus estimate of $879.88 million. During the same quarter in the prior year, the company posted $0.61 earnings per share. The business's revenue was up 14.9% on a year-over-year basis.
Several analysts have recently commented on PLXS shares. Loop Capital increased their target price on shares of Plexus from $100.00 to $105.00 and gave the company a "buy" rating in a report on Friday, June 11th. Needham & Company LLC raised their price objective on shares of Plexus from $102.00 to $110.00 and gave the company a "buy" rating in a research report on Tuesday, May 25th. Sidoti upgraded shares of Plexus from a "neutral" rating to a "buy" rating and set a $110.00 price objective for the company in a research report on Tuesday, June 22nd. Raymond James set a $85.73 price objective on shares of Plexus and gave the company a "hold" rating in a research report on Monday. Finally, Zacks Investment Research raised shares of Plexus from a "hold" rating to a "buy" rating and set a $98.00 target price on the stock in a research note on Monday, April 26th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. The stock currently has an average rating of "Buy" and a consensus target price of $95.25.
In other news, CEO Todd P. Kelsey sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, May 10th. The shares were sold at an average price of $96.00, for a total value of $240,000.00. Following the transaction, the chief executive officer now owns 91,657 shares in the company, valued at $8,799,072. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ronnie Darroch sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, April 26th. The stock was sold at an average price of $94.17, for a total transaction of $94,170.00. Following the completion of the transaction, the vice president now owns 5,591 shares in the company, valued at approximately $526,504.47. The disclosure for this sale can be found here. Insiders have sold 11,076 shares of company stock worth $1,045,755 over the last three months. Insiders own 2.38% of the company's stock.
Several institutional investors have recently modified their holdings of PLXS. State of Alaska Department of Revenue boosted its holdings in Plexus by 1.4% in the second quarter. State of Alaska Department of Revenue now owns 19,779 shares of the technology company's stock valued at $1,807,000 after acquiring an additional 268 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in Plexus in the first quarter valued at $85,000. Earnest Partners LLC boosted its holdings in Plexus by 9.2% in the first quarter. Earnest Partners LLC now owns 1,448,995 shares of the technology company's stock valued at $133,076,000 after acquiring an additional 122,213 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Plexus by 1.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 16,652 shares of the technology company's stock valued at $1,529,000 after acquiring an additional 246 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in Plexus in the first quarter valued at $1,057,000. Hedge funds and other institutional investors own 92.56% of the company's stock.
PLXS opened at $87.58 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.04 and a current ratio of 1.88. The business's fifty day simple moving average is $92.79. Plexus has a 1-year low of $64.35 and a 1-year high of $101.17. The firm has a market capitalization of $2.50 billion, a P/E ratio of 17.14 and a beta of 1.20.
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 to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.
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