Equities Analysts Set Expectations for Plexus Corp.’s Q2 2024 Earnings (NASDAQ:PLXS)

Plexus Corp. (NASDAQ:PLXSFree Report) – Equities research analysts at Zacks Research cut their Q2 2024 earnings per share estimates for shares of Plexus in a report released on Tuesday, February 6th. Zacks Research analyst H. Sadavartia now anticipates that the technology company will earn $0.86 per share for the quarter, down from their prior forecast of $1.28. The consensus estimate for Plexus’ current full-year earnings is $4.22 per share. Zacks Research also issued estimates for Plexus’ Q3 2024 earnings at $1.08 EPS, Q4 2024 earnings at $1.37 EPS, FY2024 earnings at $4.36 EPS, Q2 2025 earnings at $1.22 EPS, Q3 2025 earnings at $1.50 EPS and FY2025 earnings at $6.01 EPS.

Plexus (NASDAQ:PLXSGet Free Report) last issued its quarterly earnings data on Thursday, January 25th. The technology company reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.01). Plexus had a net margin of 3.08% and a return on equity of 12.16%. The firm had revenue of $982.61 million during the quarter, compared to the consensus estimate of $982.57 million. During the same quarter in the prior year, the business earned $1.49 earnings per share. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year.

Several other research firms have also recently issued reports on PLXS. Benchmark reissued a “buy” rating and issued a $110.00 price target on shares of Plexus in a research note on Wednesday, January 17th. Needham & Company LLC dropped their price target on shares of Plexus from $110.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Finally, Sidoti cut shares of Plexus from a “buy” rating to a “neutral” rating and set a $112.00 price objective for the company. in a report on Tuesday, January 9th.

View Our Latest Research Report on Plexus

Plexus Stock Performance

Shares of PLXS stock opened at $94.15 on Thursday. The business has a 50 day simple moving average of $102.53 and a 200 day simple moving average of $98.89. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.52 and a quick ratio of 0.62. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 20.97 and a beta of 1.05. Plexus has a 12-month low of $83.84 and a 12-month high of $114.06.

Hedge Funds Weigh In On Plexus

Hedge funds have recently modified their holdings of the stock. Citigroup Inc. lifted its stake in Plexus by 8.3% in the first quarter. Citigroup Inc. now owns 24,447 shares of the technology company’s stock valued at $2,000,000 after acquiring an additional 1,870 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Plexus by 7.5% during the 1st quarter. Bank of Montreal Can now owns 8,488 shares of the technology company’s stock worth $716,000 after purchasing an additional 592 shares during the period. MetLife Investment Management LLC raised its stake in shares of Plexus by 54.1% in the 1st quarter. MetLife Investment Management LLC now owns 14,788 shares of the technology company’s stock valued at $1,210,000 after buying an additional 5,189 shares in the last quarter. Rhumbline Advisers raised its position in Plexus by 5.4% in the first quarter. Rhumbline Advisers now owns 79,836 shares of the technology company’s stock worth $6,531,000 after purchasing an additional 4,057 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Plexus by 13.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 24,222 shares of the technology company’s stock valued at $1,982,000 after buying an additional 2,871 shares in the last quarter. 92.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Plexus

In related news, insider Michael J. Running sold 542 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $95.60, for a total transaction of $51,815.20. Following the completion of the sale, the insider now directly owns 1,569 shares of the company’s stock, valued at $149,996.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Michael J. Running sold 542 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $95.60, for a total transaction of $51,815.20. Following the sale, the insider now owns 1,569 shares in the company, valued at $149,996.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven J. Frisch sold 3,567 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $97.10, for a total transaction of $346,355.70. Following the completion of the sale, the insider now owns 65,212 shares of the company’s stock, valued at approximately $6,332,085.20. The disclosure for this sale can be found here. In the last three months, insiders sold 26,727 shares of company stock valued at $2,657,805. 2.39% of the stock is owned by insiders.

About Plexus

(Get Free Report)

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.

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Earnings History and Estimates for Plexus (NASDAQ:PLXS)

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