Sanmina (NASDAQ:SANM) Releases Q3 2024 Earnings Guidance

Sanmina (NASDAQ:SANM - Get Free Report) issued an update on its third quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 1.220-1.320 for the period, compared to the consensus earnings per share estimate of 1.320. The company issued revenue guidance of $1.8 billion-$1.9 billion, compared to the consensus revenue estimate of $2.0 billion. Sanmina also updated its Q3 guidance to $1.22-1.32 EPS.

Wall Street Analyst Weigh In

Separately, Fox Advisors assumed coverage on shares of Sanmina in a research report on Wednesday, March 6th. They issued an overweight rating and a $80.00 price objective on the stock.

Sanmina Stock Up 1.6 %

NASDAQ SANM traded up $1.03 during trading on Monday, hitting $64.00. The stock had a trading volume of 606,063 shares, compared to its average volume of 495,152. Sanmina has a 12 month low of $43.40 and a 12 month high of $69.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.23 and a current ratio of 1.99. The company's 50-day moving average price is $61.30 and its two-hundred day moving average price is $55.38. The company has a market capitalization of $3.64 billion, a PE ratio of 13.82, a P/E/G ratio of 0.93 and a beta of 1.04.

Sanmina (NASDAQ:SANM - Get Free Report) last announced its quarterly earnings data on Monday, April 29th. The electronics maker reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.15 by $0.15. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.88 billion. Sanmina had a net margin of 3.25% and a return on equity of 13.16%. The firm's revenue for the quarter was down 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.37 earnings per share. As a group, sell-side analysts forecast that Sanmina will post 5 EPS for the current year.

Insider Activity

In other Sanmina news, Director Susan A. Johnson sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $60.64, for a total value of $60,640.00. Following the completion of the transaction, the director now directly owns 7,811 shares in the company, valued at $473,659.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.09% of the stock is owned by corporate insiders.

Sanmina Company Profile

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two businesses, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, manufacturing design release, and product industrialization; assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services, as well as engages in the manufacturing of components, subassemblies, and complete systems.