Equities research analysts forecast that Flex Ltd (NASDAQ:FLEX) will post $6.49 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Flex’s earnings, with estimates ranging from $6.47 billion to $6.51 billion. Flex reported sales of $6.12 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 6%. The firm is expected to report its next quarterly earnings report after the market closes on Thursday, January 25th.
According to Zacks, analysts expect that Flex will report full-year sales of $6.49 billion for the current financial year, with estimates ranging from $24.82 billion to $25.03 billion. For the next financial year, analysts expect that the company will report sales of $25.85 billion per share, with estimates ranging from $25.56 billion to $26.18 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Flex.
Flex (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. The company had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.09 billion. Flex had a return on equity of 22.71% and a net margin of 2.25%. Flex’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 EPS.
Several equities analysts have recently issued reports on the company. BidaskClub cut Flex from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd. Zacks Investment Research upgraded Flex from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. UBS Group reiterated a “buy” rating and issued a $21.50 price objective on shares of Flex in a research note on Tuesday, December 19th. Argus lifted their price objective on Flex from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. Finally, Citigroup lifted their price objective on Flex from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $19.75.
Flex (NASDAQ:FLEX) opened at $18.64 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.23 and a quick ratio of 0.70. The stock has a market capitalization of $9,850.00, a PE ratio of 18.46, a PEG ratio of 1.02 and a beta of 0.81. Flex has a 52 week low of $14.22 and a 52 week high of $19.11.
In other news, Director William D. Watkins sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $17.73, for a total value of $159,570.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David Scott Offer sold 45,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $17.71, for a total value of $796,950.00. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in FLEX. Captrust Financial Advisors acquired a new position in Flex during the second quarter worth $171,000. Raymond James Trust N.A. grew its holdings in Flex 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 period. Woodmont Investment Counsel LLC purchased a new stake in Flex during the third quarter worth $244,000. IFP Advisors Inc boosted its position in Flex by 13.6% during the third quarter. IFP Advisors Inc now owns 27,978 shares of the technology company’s stock worth $464,000 after purchasing an additional 3,353 shares in the last quarter. Finally, First Quadrant L P CA purchased a new stake in Flex during the third quarter worth $579,000. 95.22% of the stock is currently owned by institutional investors and hedge funds.
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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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