Plexus (NASDAQ:PLXS) Releases Q4 2024 Earnings Guidance

Plexus (NASDAQ:PLXS) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.500-1.650 for the period, compared to the consensus estimate of 1.440. The company issued revenue guidance of $990.0 million-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion. Plexus also updated its Q4 guidance to $1.50-1.65 EPS.

Plexus Stock Up 0.2 %

NASDAQ:PLXS traded up $0.26 during mid-day trading on Friday, reaching $129.85. The company’s stock had a trading volume of 152,848 shares, compared to its average volume of 126,260. Plexus has a 1 year low of $87.21 and a 1 year high of $132.46. The stock has a fifty day moving average of $108.33 and a 200-day moving average of $101.10. The firm has a market capitalization of $3.56 billion, a PE ratio of 36.06 and a beta of 0.90. The company has a quick ratio of 0.64, a current ratio of 1.51 and a debt-to-equity ratio of 0.15.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.17. The company had revenue of $960.70 million during the quarter, compared to analyst estimates of $981.32 million. Plexus had a net margin of 2.82% and a return on equity of 9.68%. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.32 earnings per share. Equities research analysts forecast that Plexus will post 3.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on PLXS. Stifel Nicolaus increased their price target on shares of Plexus from $90.00 to $95.00 and gave the company a hold rating in a research report on Friday, April 26th. Benchmark upped their price objective on shares of Plexus from $110.00 to $120.00 and gave the company a buy rating in a report on Friday, June 21st. Finally, Needham & Company LLC upped their price objective on shares of Plexus from $114.00 to $144.00 and gave the company a buy rating in a report on Friday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $117.75.

Insider Activity

In other news, CFO Patrick John Jermain sold 4,750 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $100.43, for a total transaction of $477,042.50. Following the transaction, the chief financial officer now owns 42,932 shares in the company, valued at approximately $4,311,660.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Plexus news, CFO Patrick John Jermain sold 4,750 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $100.43, for a total value of $477,042.50. Following the transaction, the chief financial officer now owns 42,932 shares in the company, valued at approximately $4,311,660.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Victor (Pang Hau) Tan sold 2,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $102.50, for a total value of $205,000.00. Following the completion of the transaction, the insider now owns 12,605 shares in the company, valued at approximately $1,292,012.50. The disclosure for this sale can be found here. Insiders have sold 35,386 shares of company stock worth $3,749,884 in the last quarter. Corporate insiders own 2.39% of the company’s stock.

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.