Plexus (NASDAQ:PLXS) Announces Earnings Results

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Plexus (NASDAQ:PLXS) issued its quarterly earnings results on Wednesday. The technology company reported $0.81 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.81, RTT News reports. The business had revenue of $799.64 million for the quarter, compared to analyst estimates of $783.30 million. Plexus had a net margin of 4.79% and a return on equity of 12.52%. Plexus’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.79 EPS. Plexus updated its Q4 2019 guidance to $0.81-0.91 EPS.

PLXS traded down $1.53 during midday trading on Wednesday, hitting $59.87. 382,200 shares of the company traded hands, compared to its average volume of 168,350. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.83 and a quick ratio of 0.88. The stock has a market cap of $1.82 billion, a P/E ratio of 18.54 and a beta of 0.99. Plexus has a 52-week low of $47.63 and a 52-week high of $66.98. The stock’s 50 day moving average price is $55.70.

PLXS has been the topic of a number of research reports. Sidoti set a $72.00 price objective on shares of Plexus and gave the stock a “buy” rating in a research note on Friday, June 14th. Zacks Investment Research upgraded shares of CannTrust from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a research note on Wednesday. Needham & Company LLC increased their price objective on shares of Lam Research from $180.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Finally, BidaskClub lowered shares of Weyco Group from a “sell” rating to a “strong sell” rating in a research note on Saturday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $69.67.

In other news, VP Ronnie Darroch sold 4,325 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $60.56, for a total value of $261,922.00. Following the transaction, the vice president now directly owns 8,451 shares of the company’s stock, valued at $511,792.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael V. Schrock sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $60.47, for a total transaction of $302,350.00. Following the completion of the transaction, the director now directly owns 32,894 shares in the company, valued at $1,989,100.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,493 shares of company stock worth $1,485,704. Insiders own 3.90% of the company’s stock.

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 design and development, supply chain, new product introduction, and manufacturing solutions, as well as aftermarket services. The company provides its solutions to companies in the healthcare and life sciences, industrial and commercial, communications, and aerospace and defense sectors.

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Earnings History for Plexus (NASDAQ:PLXS)

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