Plexus (PLXS) to Release Earnings on Wednesday

Plexus (NASDAQ:PLXS - Get Free Report) will issue its quarterly earnings data after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.77 per share for the quarter. Plexus has set its Q2 2024 guidance at 0.480-0.630 EPS.Parties interested in listening to the company's conference call can do so using this link.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its quarterly earnings results on Thursday, January 25th. The technology company reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.01). The company had revenue of $982.61 million during the quarter, compared to analyst estimates of $982.57 million. Plexus had a return on equity of 12.16% and a net margin of 3.08%. The business's revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.49 earnings per share. On average, analysts expect Plexus to post $4 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Plexus Stock Performance

NASDAQ PLXS traded down $1.24 during midday trading on Wednesday, hitting $93.68. The company had a trading volume of 74,799 shares, compared to its average volume of 118,153. The company has a quick ratio of 0.62, a current ratio of 1.52 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $94.52 and a two-hundred day simple moving average of $98.32. Plexus has a fifty-two week low of $83.84 and a fifty-two week high of $114.06. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of 20.86 and a beta of 1.02.

Insider Activity at Plexus

In related news, CFO Patrick John Jermain sold 2,532 shares of Plexus stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $92.51, for a total transaction of $234,235.32. Following the completion of the transaction, the chief financial officer now directly owns 54,651 shares of the company's stock, valued at approximately $5,055,764.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Plexus news, insider Michael J. Running sold 542 shares of the business's stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $95.60, for a total value of $51,815.20. Following the completion of the transaction, the insider now directly owns 1,569 shares of the company's stock, valued at $149,996.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Patrick John Jermain sold 2,532 shares of the business'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 completion of the transaction, the chief financial officer now directly owns 54,651 shares of the company's stock, valued at $5,055,764.01. The disclosure for this sale can be found here. Insiders sold 32,453 shares of company stock valued at $3,112,875 in the last ninety days. Insiders own 2.39% of the company's stock.

Hedge Funds Weigh In On Plexus

Institutional investors have recently modified their holdings of the stock. FMR LLC grew its position in shares of Plexus by 9.4% during the 3rd quarter. FMR LLC now owns 1,343 shares of the technology company's stock worth $125,000 after buying an additional 115 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Plexus by 1.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 10,780 shares of the technology company's stock worth $1,110,000 after buying an additional 135 shares during the period. Osaic Holdings Inc. grew its position in shares of Plexus by 2.3% during the 2nd quarter. Osaic Holdings Inc. now owns 6,254 shares of the technology company's stock worth $614,000 after buying an additional 139 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Plexus by 0.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 16,381 shares of the technology company's stock worth $1,286,000 after buying an additional 153 shares during the period. Finally, MQS Management LLC grew its position in shares of Plexus by 2.1% during the 3rd quarter. MQS Management LLC now owns 7,782 shares of the technology company's stock worth $681,000 after buying an additional 161 shares during the period. 94.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PLXS. Benchmark reiterated a "buy" rating and set a $110.00 target price on shares of Plexus in a research report on Wednesday, January 17th. TheStreet lowered shares of Plexus from a "b" rating to a "c+" rating in a research report on Tuesday, February 13th. Sidoti lowered shares of Plexus from a "buy" rating to a "neutral" rating and set a $112.00 target price on the stock. in a research report on Tuesday, January 9th. Finally, Needham & Company LLC decreased their target price on shares of Plexus from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Plexus presently has a consensus rating of "Moderate Buy" and a consensus price target of $109.67.

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.