Equities analysts predict that Flextronics International Ltd. (NASDAQ:FLEX) will announce earnings per share (EPS) of $0.30 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Flextronics International’s earnings, with estimates ranging from $0.30 to $0.31. Flextronics International reported earnings of $0.34 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 11.8%. The firm is scheduled to issue its next quarterly earnings report on Thursday, January 25th.
On average, analysts expect that Flextronics International will report full year earnings of $1.10 per share for the current financial year, with EPS estimates ranging from $1.09 to $1.12. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.41 per share, with EPS estimates ranging from $1.40 to $1.46. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Flextronics International.
Flextronics International (NASDAQ:FLEX) last released its earnings results on Thursday, October 26th. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.01. Flextronics International had a return on equity of 22.71% and a net margin of 2.25%. The business had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.09 billion. During the same quarter last year, the business posted $0.28 earnings per share. The business’s quarterly revenue was up 4.3% compared to the same quarter last year.
Several equities research analysts recently commented on the company. Zacks Investment Research cut Flextronics International from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Argus increased their price target on Flextronics International from $20.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, November 1st. UBS AG increased their price target on Flextronics International from $18.00 to $19.75 and gave the company a “buy” rating in a report on Friday, October 27th. Citigroup Inc. increased their price target on Flextronics International from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, October 27th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $19.00 price target on shares of Flextronics International in a report on Friday, October 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $19.53.
A number of hedge funds have recently bought and sold shares of the business. Raymond James Trust N.A. increased its stake in Flextronics International by 2.3% during the second quarter. Raymond James Trust N.A. now owns 13,483 shares of the technology company’s stock worth $220,000 after acquiring an additional 309 shares during the last quarter. IFP Advisors Inc increased its stake in Flextronics International by 3.5% during the second quarter. IFP Advisors Inc now owns 24,625 shares of the technology company’s stock worth $402,000 after acquiring an additional 832 shares during the last quarter. Graybill Bartz & Assoc Ltd. increased its stake in Flextronics International by 1.6% during the second quarter. Graybill Bartz & Assoc Ltd. now owns 178,129 shares of the technology company’s stock worth $2,905,000 after acquiring an additional 2,850 shares during the last quarter. PGGM Investments increased its stake in Flextronics International by 0.3% during the third quarter. PGGM Investments now owns 2,184,514 shares of the technology company’s stock worth $36,197,000 after acquiring an additional 7,337 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. increased its stake in Flextronics International by 5.6% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 152,663 shares of the technology company’s stock worth $2,529,000 after acquiring an additional 8,100 shares during the last quarter. 96.07% of the stock is owned by institutional investors.
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Flextronics International (NASDAQ FLEX) traded up $0.15 during trading hours on Friday, hitting $18.57. The company had a trading volume of 2,895,977 shares, compared to its average volume of 3,545,622. Flextronics International has a 12-month low of $13.97 and a 12-month high of $18.74. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.70 and a current ratio of 1.23. The firm has a market capitalization of $9,810.00, a PE ratio of 15.86, a PEG ratio of 1.00 and a beta of 0.82.
Flextronics International announced that its board has initiated a stock repurchase program on Friday, August 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to buy up to 65% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
About Flextronics International
Flex Ltd, formerly Flextronics International Ltd. provides design, engineering, manufacturing, and supply chain services and solutions. The Company designs, builds, ships and services packaged consumer electronics and industrial products for original equipment manufacturers (OEMs). Its segments include High Reliability Solutions (HRS), Consumer Technologies Group (CTG), Industrial and Emerging Industries (IEI) and Communications & Enterprise Compute (CEC).
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