Benchmark Electronics (NYSE:BHE) Issues Q4 Earnings Guidance

by · The Cerbat Gem

Benchmark Electronics (NYSE:BHE – Get Free Report) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.53-0.59 for the period, compared to the consensus earnings per share estimate of $0.55. The company issued revenue guidance of $640-680 million, compared to the consensus revenue estimate of $657.70 million.

Analyst Ratings Changes

BHE has been the subject of a number of recent analyst reports. Lake Street Capital upped their price objective on shares of Benchmark Electronics from $35.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC increased their price target on Benchmark Electronics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, StockNews.com upgraded Benchmark Electronics from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.33.

Check Out Our Latest Stock Report on Benchmark Electronics

Benchmark Electronics Stock Performance

Benchmark Electronics stock traded up $0.17 during trading on Wednesday, hitting $45.42. The stock had a trading volume of 258,295 shares, compared to its average volume of 309,332. The stock’s 50 day moving average is $42.98 and its two-hundred day moving average is $40.68. Benchmark Electronics has a 1 year low of $23.62 and a 1 year high of $48.58. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 24.73 and a beta of 0.98. The company has a quick ratio of 1.42, a current ratio of 2.35 and a debt-to-equity ratio of 0.26.

Benchmark Electronics (NYSE:BHE – Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.06. Benchmark Electronics had a return on equity of 7.17% and a net margin of 2.45%. The company had revenue of $666.00 million during the quarter, compared to the consensus estimate of $635.75 million. During the same quarter in the prior year, the company earned $0.48 EPS. The firm’s quarterly revenue was down 9.2% compared to the same quarter last year.

Benchmark Electronics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a $0.17 dividend. This is an increase from Benchmark Electronics’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.68 annualized dividend and a dividend yield of 1.50%. Benchmark Electronics’s dividend payout ratio (DPR) is presently 37.16%.

Insider Activity

In other Benchmark Electronics news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $42.70, for a total transaction of $302,017.10. Following the sale, the director now owns 42,027 shares in the company, valued at $1,794,552.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.10% of the company’s stock.

About Benchmark Electronics

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Benchmark Electronics, Inc, together with its subsidiaries, offers product design, engineering services, technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company provides engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing and technology solutions, as well as automation equipment design and build services.

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