Benchmark Electronics (NYSE:BHE) Posts Earnings Results, Beats Expectations By $0.06 EPS

Benchmark Electronics (NYSE:BHE) announced its quarterly earnings results on Tuesday. The technology company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06, Briefing.com reports. Benchmark Electronics had a return on equity of 7.20% and a net margin of 2.34%. The firm had revenue of $666.00 million for the quarter, compared to analyst estimates of $635.75 million. During the same period last year, the firm posted $0.48 earnings per share. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. Benchmark Electronics updated its Q3 guidance to $0.52-$0.58 EPS and its Q3 2024 guidance to 0.520-0.580 EPS.

Benchmark Electronics Stock Performance

BHE stock traded up $3.10 during midday trading on Wednesday, hitting $43.79. The company’s stock had a trading volume of 56,466 shares, compared to its average volume of 335,467. The stock’s 50-day moving average price is $40.95 and its 200 day moving average price is $34.51. The company has a quick ratio of 1.41, a current ratio of 2.36 and a debt-to-equity ratio of 0.29. Benchmark Electronics has a 1 year low of $22.66 and a 1 year high of $44.85. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 23.93 and a beta of 0.99.

Benchmark Electronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were given a $0.165 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.66 annualized dividend and a yield of 1.51%. Benchmark Electronics’s dividend payout ratio is currently 36.07%.

Insider Activity

In other news, SVP Jan M. Janick sold 6,777 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $38.87, for a total transaction of $263,421.99. Following the transaction, the senior vice president now owns 67,774 shares of the company’s stock, valued at approximately $2,634,375.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Jan M. Janick sold 6,777 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $38.87, for a total transaction of $263,421.99. Following the sale, the senior vice president now directly owns 67,774 shares in the company, valued at approximately $2,634,375.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Arvind Kamal sold 783 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $38.38, for a total value of $30,051.54. Following the sale, the chief financial officer now owns 20,735 shares in the company, valued at $795,809.30. The disclosure for this sale can be found here. Insiders have sold 17,560 shares of company stock valued at $688,374 in the last 90 days. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Fox Advisors downgraded Benchmark Electronics from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, May 15th. Sidoti downgraded Benchmark Electronics from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research report on Monday, April 29th. StockNews.com downgraded Benchmark Electronics from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Needham & Company LLC lifted their target price on Benchmark Electronics from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday.

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.