Equities analysts predict that Flex Ltd (NASDAQ:FLEX) will post earnings of $0.29 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Flex’s earnings. The highest EPS estimate is $0.31 and the lowest is $0.28. Flex also posted earnings per share of $0.29 during the same quarter last year. The business is scheduled to report its next earnings report on Thursday, April 26th.
On average, analysts expect that Flex will report full year earnings of $1.10 per share for the current year, with EPS estimates ranging from $1.09 to $1.12. For the next year, analysts expect that the business will report earnings of $1.42 per share, with EPS estimates ranging from $1.40 to $1.46. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Flex.
Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Thursday, January 25th. The technology company reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. The firm had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.50 billion. Flex had a net margin of 2.15% and a return on equity of 20.44%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 earnings per share.
Several brokerages recently issued reports on FLEX. UBS Group reiterated a “buy” rating and set a $21.50 price target on shares of Flex in a research report on Tuesday, December 19th. BidaskClub cut shares of Flex from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Stifel Nicolaus boosted their price target on shares of Flex from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Argus boosted their price target on shares of Flex from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. Finally, Needham & Company LLC boosted their price target on shares of Flex from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $20.56.
Shares of Flex (NASDAQ:FLEX) traded up $0.02 during midday trading on Monday, hitting $17.84. 4,037,594 shares of the company traded hands, compared to its average volume of 4,680,000. Flex has a one year low of $14.70 and a one year high of $19.71. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.22 and a quick ratio of 0.72. The stock has a market capitalization of $9,420.00, a PE ratio of 17.84, a P/E/G ratio of 0.98 and a beta of 0.80.
In other Flex news, Director William D. Watkins sold 9,000 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $17.73, for a total value of $159,570.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP David Scott Offer sold 45,000 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $17.71, for a total transaction of $796,950.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,597 shares of company stock worth $1,200,042. Corporate insiders own 0.83% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in FLEX. Cornerstone Capital Management Holdings LLC. grew its holdings in Flex by 9.8% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 144,563 shares of the technology company’s stock worth $2,357,000 after purchasing an additional 12,900 shares during the period. Oak Associates Ltd. OH grew its holdings in Flex by 8.5% in the second quarter. Oak Associates Ltd. OH now owns 556,305 shares of the technology company’s stock worth $9,073,000 after purchasing an additional 43,680 shares during the period. PGGM Investments grew its holdings in Flex by 0.3% in the third quarter. PGGM Investments now owns 2,184,514 shares of the technology company’s stock worth $36,197,000 after purchasing an additional 7,337 shares during the period. Korea Investment CORP grew its holdings in Flex by 145.7% in the third quarter. Korea Investment CORP now owns 257,300 shares of the technology company’s stock worth $4,263,000 after purchasing an additional 152,600 shares during the period. Finally, First Quadrant L P CA purchased a new stake in Flex in the third quarter worth about $579,000. Institutional investors and hedge funds own 94.38% of the company’s stock.
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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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