Benchmark Electronics (NYSE:BHE) Announces Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Benchmark Electronics (NYSE:BHE) released its quarterly earnings data on Wednesday. The technology company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02), MarketWatch Earnings reports. Benchmark Electronics had a return on equity of 3.46% and a net margin of 0.03%. The business had revenue of $491.00 million during the quarter, compared to the consensus estimate of $474.33 million. During the same quarter in the previous year, the business posted $0.36 earnings per share. Benchmark Electronics’s quarterly revenue was down 18.4% compared to the same quarter last year. Benchmark Electronics updated its Q3 2020
After-Hours guidance to 0.26-0.30 EPS and its Q3 guidance to $0.26-$0.30 EPS.

NYSE:BHE traded up $0.07 on Friday, hitting $20.36. The stock had a trading volume of 294,088 shares, compared to its average volume of 181,164. The stock has a market cap of $741.51 million, a price-to-earnings ratio of 2,038.04 and a beta of 1.06. The company has a quick ratio of 2.02, a current ratio of 2.60 and a debt-to-equity ratio of 0.23. The business’s 50-day simple moving average is $20.58 and its two-hundred day simple moving average is $23.59. Benchmark Electronics has a 52-week low of $14.06 and a 52-week high of $37.36.

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th were given a $0.16 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $0.64 annualized dividend and a yield of 3.14%. Benchmark Electronics’s payout ratio is 48.48%.

Several research firms recently commented on BHE. Sidoti lifted their price objective on Benchmark Electronics from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Needham & Company LLC assumed coverage on Benchmark Electronics in a research report on Thursday. They issued a “hold” rating on the stock. Finally, Lake Street Capital raised their target price on Benchmark Electronics from $24.00 to $28.00 in a research report on Thursday, April 30th.

In other news, Director Jeffrey Stephen Mccreary bought 7,500 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were acquired at an average cost of $20.35 per share, with a total value of $152,625.00. Following the completion of the transaction, the director now owns 66,580 shares of the company’s stock, valued at approximately $1,354,903. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.

About Benchmark Electronics

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

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Earnings History for Benchmark Electronics (NYSE:BHE)

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