Benchmark Electronics (NYSE:BHE) Releases Q4 2024 Earnings Guidance

Benchmark Electronics (NYSE:BHE) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.530-0.590 for the period, compared to the consensus estimate of 0.550. The company issued revenue guidance of $640.0 million-$680.0 million, compared to the consensus revenue estimate of $657.7 million. Benchmark Electronics also updated its Q4 guidance to $0.53-0.59 EPS.

Analyst Ratings Changes

Several research analysts recently commented on the company. Lake Street Capital boosted their target price on Benchmark Electronics from $35.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com raised Benchmark Electronics from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Finally, Needham & Company LLC upped their price objective on Benchmark Electronics from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $41.33.

Benchmark Electronics Stock Up 0.3 %

Shares of NYSE:BHE traded up $0.15 on Wednesday, hitting $45.40. 258,295 shares of the company’s stock were exchanged, compared to its average volume of 309,332. The firm’s 50-day moving average is $42.98 and its 200 day moving average is $40.68. The company has a market capitalization of $1.64 billion, a PE ratio of 24.81 and a beta of 0.98. Benchmark Electronics has a 1-year low of $23.62 and a 1-year high of $48.58. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.42 and a current ratio of 2.35.

Benchmark Electronics (NYSE:BHE) last released its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.57 earnings per share (EPS) 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 business had revenue of $666.00 million during the quarter, compared to analysts’ expectations of $635.75 million. During the same period in the prior year, the firm posted $0.48 EPS. The business’s quarterly revenue was down 9.2% compared to the same quarter last year.

Benchmark Electronics Increases Dividend

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

Insider Activity

In other news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $42.70, for a total value of $302,017.10. Following the completion of the sale, the director now directly owns 42,027 shares of the company’s stock, valued at approximately $1,794,552.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.10% of the company’s stock.

About Benchmark Electronics

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.