Brokerages predict that Plexus Corp. (NASDAQ:PLXS) will report $762.30 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Plexus’ earnings, with estimates ranging from $760.00 million to $765.00 million. Plexus posted sales of $669.85 million in the same quarter last year, which suggests a positive year over year growth rate of 13.8%. The business is scheduled to report its next earnings results after the market closes on Wednesday, October 24th.
According to Zacks, analysts expect that Plexus will report full-year sales of $2.86 billion for the current fiscal year, with estimates ranging from $2.86 billion to $2.87 billion. For the next fiscal year, analysts expect that the business will report sales of $3.13 billion, with estimates ranging from $3.08 billion to $3.19 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Plexus.
Plexus (NASDAQ:PLXS) last posted its earnings results on Wednesday, July 18th. The technology company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.03). Plexus had a positive return on equity of 11.37% and a negative net margin of 1.11%. The firm had revenue of $726.39 million during the quarter, compared to the consensus estimate of $721.08 million. During the same quarter last year, the company posted $0.74 EPS. Plexus’s revenue for the quarter was up 17.4% on a year-over-year basis.
A number of analysts have recently weighed in on PLXS shares. BidaskClub lowered shares of Plexus from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 price target on shares of Plexus in a research note on Friday, July 20th. Finally, ValuEngine raised shares of Plexus from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Plexus has an average rating of “Hold” and an average price target of $69.25.
In related news, CAO Angelo Michael Ninivaggi, Jr. sold 6,250 shares of the stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $61.79, for a total transaction of $386,187.50. Following the completion of the sale, the chief accounting officer now directly owns 28,402 shares of the company’s stock, valued at $1,754,959.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Dean A. Foate sold 34,900 shares of the stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $61.47, for a total transaction of $2,145,303.00. Following the sale, the chairman now directly owns 303,440 shares of the company’s stock, valued at $18,652,456.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,830 shares of company stock valued at $7,596,700. Company insiders own 3.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. lifted its stake in Plexus by 281.1% during the first quarter. Envestnet Asset Management Inc. now owns 3,224 shares of the technology company’s stock valued at $185,000 after purchasing an additional 2,378 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in Plexus during the second quarter valued at approximately $205,000. Jane Street Group LLC acquired a new stake in Plexus during the second quarter valued at approximately $214,000. Koch Industries Inc. acquired a new stake in Plexus during the first quarter valued at approximately $220,000. Finally, WINTON GROUP Ltd acquired a new stake in Plexus during the first quarter valued at approximately $244,000. 97.29% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:PLXS traded up $0.98 during trading on Thursday, reaching $53.72. The company had a trading volume of 228,091 shares, compared to its average volume of 165,213. The firm has a market cap of $1.89 billion, a P/E ratio of 16.58 and a beta of 0.67. Plexus has a twelve month low of $52.44 and a twelve month high of $66.78. The company has a current ratio of 2.11, a quick ratio of 1.05 and a debt-to-equity ratio of 0.20.
Plexus Company Profile
Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers product conceptualization solutions; and product design and value-engineering solutions, including program management, feasibility studies, specification development for product features and functionality, circuit design, field programmable gate array design, printed circuit board layout, embedded software design, mechanical design, test specifications development and product verification testing, and automated production solutions and complex automation design.
Further Reading: Understanding Price to Earnings Ratio (PE)
Get a free copy of the Zacks research report on Plexus (PLXS)
For more information about research offerings from Zacks Investment Research, visit Zacks.com