Plexus Corp. (NASDAQ:PLXS) reported worse-than-expected first-quarter sales results and issued second-quarter revenue guidance below estimates, after the closing bell on Wednesday.
Plexus reported quarterly earnings of $1.73 per share which beat the analyst consensus estimate of $1.59 per share. The company reported quarterly sales of $976.000 million which missed the analyst consensus estimate of $982.220 million.
Plexus said it sees second-quarter adjusted earnings of $1.46 to $1.61 per share, versus market estimates of $1.59 per share. The company projects revenue of $960 million to $1.00 billion, versus expectations of $1.015 billion.
Plexus shares fell 10.1% to close at $153.30 on Thursday.
These analysts made changes to their price targets on Plexus following earnings announcement.
- Needham analyst James Ricchiuti maintained Plexus with a Buy and raised the price target from $162 to $172.
- Benchmark analyst David Williams maintained the stock with a Buy and lifted the price target from $165 to $170.
Considering buying PLXS stock? Here’s what analysts think:
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