Benchmark Electronics Inc. (BHE) to Release Earnings on Thursday
Benchmark Electronics Inc. (NYSE:BHE) is scheduled to post its Q316 quarterly earnings results on Thursday, October 20th. Analysts expect Benchmark Electronics to post earnings of $0.35 per share and revenue of $584.17 million for the quarter.
Benchmark Electronics Inc. (NYSE:BHE) opened at 25.30 on Wednesday. Benchmark Electronics Inc. has a 12 month low of $18.36 and a 12 month high of $25.74. The firm’s 50-day moving average is $24.66 and its 200-day moving average is $22.54. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 15.37 and a beta of 0.71.
A number of analysts have recently commented on BHE shares. Zacks Investment Research cut shares of Benchmark Electronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 21st. TheStreet raised Benchmark Electronics from a “hold” rating to a “buy” rating in a research report on Monday, July 25th. Needham & Company LLC lifted their price target on Benchmark Electronics from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, July 22nd. Finally, B. Riley reaffirmed a “neutral” rating and issued a $23.00 price target on shares of Benchmark Electronics in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $24.00.
In related news, insider Jon J. King sold 12,774 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $23.57, for a total transaction of $301,083.18. Following the sale, the insider now owns 40,624 shares of the company’s stock, valued at $957,507.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Donald Francis Adam sold 40,000 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $23.46, for a total value of $938,400.00. Following the sale, the chief financial officer now directly owns 126,513 shares in the company, valued at approximately $2,967,994.98. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. BlackRock Fund Advisors increased its stake in shares of Benchmark Electronics by 0.9% in the second quarter. BlackRock Fund Advisors now owns 3,220,773 shares of the company’s stock worth $68,119,000 after buying an additional 27,676 shares during the last quarter. Capital Research Global Investors bought a new stake in shares of Benchmark Electronics during the second quarter worth $13,145,000. AQR Capital Management LLC increased its stake in shares of Benchmark Electronics by 7.8% in the second quarter. AQR Capital Management LLC now owns 298,737 shares of the company’s stock worth $6,318,000 after buying an additional 21,551 shares during the last quarter. Carlson Capital L P increased its stake in shares of Benchmark Electronics by 20.3% in the second quarter. Carlson Capital L P now owns 278,908 shares of the company’s stock worth $5,899,000 after buying an additional 47,000 shares during the last quarter. Finally, BlackRock Investment Management LLC increased its stake in shares of Benchmark Electronics by 3.5% in the second quarter. BlackRock Investment Management LLC now owns 228,739 shares of the company’s stock worth $4,838,000 after buying an additional 7,771 shares during the last quarter. 96.16% of the stock is currently owned by institutional investors.
About Benchmark Electronics
Benchmark Electronics, Inc is a provider of integrated electronic manufacturing services. The Company provides services to original equipment manufacturers of industrial control equipment, including equipment for the aerospace and defense industry; telecommunication equipment; computers and related products for business enterprises; medical devices, and testing and instrumentation products.
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