Benchmark Electronics, Inc. (NYSE:BHE) Increases Dividend to $0.17 Per Share

Benchmark Electronics, Inc. (NYSE:BHE) announced a quarterly dividend on Monday, September 9th, RTT News reports. Investors of record on Monday, September 30th will be paid a dividend of 0.17 per share by the technology company on Friday, October 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Monday, September 30th. This is an increase from Benchmark Electronics’s previous quarterly dividend of $0.17.

Benchmark Electronics has raised its dividend payment by an average of 1.0% annually over the last three years. Benchmark Electronics has a dividend payout ratio of 27.3% indicating that its dividend is sufficiently covered by earnings.

Benchmark Electronics Trading Down 0.7 %

BHE opened at $44.78 on Friday. Benchmark Electronics has a 52 week low of $22.66 and a 52 week high of $48.58. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 24.47 and a beta of 0.98. The business’s 50 day moving average is $42.12 and its two-hundred day moving average is $38.36. The company has a quick ratio of 1.42, a current ratio of 2.35 and a debt-to-equity ratio of 0.26.

Benchmark Electronics (NYSE:BHE) last announced its earnings results on Tuesday, July 30th. The technology company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.06. The company had revenue of $666.00 million for the quarter, compared to the consensus estimate of $635.75 million. Benchmark Electronics had a return on equity of 7.17% and a net margin of 2.45%. The company’s revenue was down 9.2% on a year-over-year basis. During the same period last year, the business posted $0.48 EPS.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BHE. StockNews.com downgraded shares of Benchmark Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Lake Street Capital lifted their price objective on Benchmark Electronics from $35.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Needham & Company LLC boosted their target price on Benchmark Electronics from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $41.33.

Insider Buying and Selling at Benchmark Electronics

In other Benchmark Electronics news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $42.70, for a total transaction of $302,017.10. Following the sale, the director now owns 42,027 shares in the company, valued at approximately $1,794,552.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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.