Plexus (NASDAQ:PLXS) Releases Q3 2021 Earnings Guidance

Plexus (NASDAQ:PLXS) issued an update on its third quarter 2021 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 1.230-1.380 for the period, compared to the Thomson Reuters consensus estimate of $1.210. The company issued revenue guidance of $875 million-$915 million, compared to the consensus revenue estimate of $886.50 million.

Shares of NASDAQ:PLXS traded down $2.26 during trading on Tuesday, hitting $90.88. 7,039 shares of the company were exchanged, compared to its average volume of 145,325. The company has a market cap of $2.62 billion, a PE ratio of 23.47 and a beta of 1.18. The stock has a 50 day moving average of $91.91 and a 200 day moving average of $82.24. Plexus has a 52-week low of $54.31 and a 52-week high of $96.27. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.77 and a quick ratio of 1.01.

Plexus (NASDAQ:PLXS) last posted its earnings results on Tuesday, April 20th. The technology company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.24. The firm had revenue of $881.00 million for the quarter, compared to the consensus estimate of $879.88 million. Plexus had a return on equity of 13.10% and a net margin of 3.47%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.61 earnings per share. Sell-side analysts forecast that Plexus will post 4.54 EPS for the current fiscal year.

A number of brokerages recently issued reports on PLXS. Loop Capital increased their price objective on Plexus from $91.00 to $100.00 and gave the stock a buy rating in a research report on Monday, April 26th. Needham & Company LLC increased their price objective on Plexus from $89.00 to $102.00 and gave the stock a buy rating in a research report on Thursday, April 29th. Sidoti downgraded Plexus from a buy rating to a neutral rating and set a $94.00 price objective on the stock. in a research report on Wednesday, March 31st. Finally, Zacks Investment Research upgraded Plexus from a hold rating to a buy rating and set a $98.00 price objective on the stock in a research report on Monday, April 26th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Plexus has an average rating of Buy and a consensus target price of $92.00.

In related news, VP Ronnie Darroch sold 1,000 shares of the stock in a transaction on Monday, April 26th. The stock was sold at an average price of $94.17, for a total value of $94,170.00. Following the transaction, the vice president now owns 5,591 shares of the company’s stock, valued at $526,504.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Todd P. Kelsey sold 2,500 shares of the stock in a transaction on Monday, April 26th. The shares were sold at an average price of $94.14, for a total value of $235,350.00. Following the completion of the transaction, the chief executive officer now directly owns 93,657 shares in the company, valued at approximately $8,816,869.98. The disclosure for this sale can be found here. In the last three months, insiders sold 23,702 shares of company stock worth $2,055,093. 2.38% of the stock is owned by insiders.

About Plexus

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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