Benchmark Electronics Analysts Increase Their Forecasts After Better-Than-Expected Earnings
Portfolio Pulse from Avi Kapoor
Benchmark Electronics (NYSE:BHE) reported better-than-expected Q2 earnings, with EPS of 57 cents beating the consensus estimate of 51 cents and sales of $666 million surpassing the $635.75 million estimate. The company forecasts Q3 revenue of $630-$670 million and adjusted EPS of 52-58 cents. Following the earnings announcement, Needham and Lake Street analysts raised their price targets for BHE. The stock rose 15.5% to $47.01.
July 31, 2024 | 6:00 pm
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Benchmark Electronics reported better-than-expected Q2 earnings, with EPS of 57 cents and sales of $666 million. The company forecasts Q3 revenue of $630-$670 million and adjusted EPS of 52-58 cents. Analysts raised their price targets, and the stock rose 15.5% to $47.01.
The better-than-expected earnings and raised price targets from analysts are positive indicators for Benchmark Electronics. The stock's 15.5% rise reflects investor confidence, suggesting a likely short-term upward trend.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100