Analysts expect Flex Ltd. (NASDAQ:FLEX – Get Rating) reports earnings per share of $0.44 for the current fiscal quarter, according to Zacks. Three analysts provided estimates of Flex’s earnings. The highest EPS estimate is $0.44 and the lowest is $0.43. Flex reported earnings per share of $0.49 in the same quarter last year, suggesting a negative 10.2% year-over-year growth rate. The company is expected to release its next earnings report after the market closes on Monday, January 1.
On average, analysts expect Flex to report full year earnings of $1.88 per share for the current fiscal year, with EPS estimates ranging from $1.87 to $1.89. For the next fiscal year, analysts expect the company to report earnings of $2.16 per share, with EPS estimates ranging from $2.14 to $2.16. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts who provide coverage for Flex.
Flex (NASDAQ:FLEX – Get Rating) last released its quarterly results on Wednesday, January 26. The technology company reported earnings per share of $0.48 for the quarter, beating Thomson Reuters consensus estimate of $0.35 by $0.13. Flex had a net margin of 3.96% and a return on equity of 28.60%. The company posted revenue of $6.62 billion for the quarter, versus a consensus estimate of $6.31 billion. During the same period last year, the firm posted earnings per share of $0.41.
Several brokerages have recently weighed in on FLEX. Zacks Investment Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating and set a target price of $21.00 for the company in a research note on Friday, April 1. Craig Hallum cut his price target on shares of Flex from $31.00 to $25.00 in a Thursday, January 27 research report. Finally, StockNews.com began covering Flex in a research report on Thursday, March 31. They have placed a “holding” rating on the stock.
In other Flex news, CEO Revathi Advaithi sold 32,367 shares in a trade on Monday, February 14. The stock was sold at an average price of $17.08, for a total value of $552,828.36. The sale was disclosed in a document filed with the SEC, which is available via this link. 0.43% of the shares are currently held by insiders.
A number of hedge funds have recently changed their positions in FLEX. Wellington Management Group LLP increased its stake in shares of Flex by 12.5% in the third quarter. Wellington Management Group LLP now owns 41,608,987 shares of the technology company worth $735,646,000 after acquiring an additional 4,635,100 shares during the period. Janus Henderson Group PLC increased its stake in Flex by 1.2% in the third quarter. Janus Henderson Group PLC now owns 22,848,206 shares of the technology company valued at $403,957,000 after buying an additional 259,844 shares last quarter. Alliancebernstein LP increased its position in shares of Flex by 7.2% during the 4th quarter. Alliancebernstein LP now owns 21,008,183 shares of the technology company valued at $385,080,000 after purchasing an additional 1,414,461 shares during the period. Victory Capital Management Inc. increased its stake in shares of Flex by 12.2% in the 4th quarter. Victory Capital Management Inc. now owns 19,581,382 shares of the technology company worth $358,927,000 after buying an additional 2,124,940 shares last quarter. Finally, Boston Partners increased its holding in Flex shares by 2.9% in the third quarter. Boston Partners now owns 11,683,633 shares of the technology company valued at $206,600,000 after purchasing an additional 326,796 shares during the period. Institutional investors hold 95.93% of the company’s shares.
FLEX traded down $0.42 during Friday’s trading, hitting $16.49. The company’s stock had a trading volume of 2,938,621 shares, compared to an average volume of 3,591,702. The company has a fifty-day simple moving average of $16.81 and a two-hundred-day simple moving average from $17.35. The company has a market capitalization of $7.65 billion, a price-earnings ratio of 8.04, a PEG ratio of 0.62 and a beta of 1.53. Flex has a 1-year minimum of $14.88 and a 1-year maximum of $19.50. The company has a quick ratio of 0.75, a current ratio of 1.37 and a debt ratio of 1.04.
Flex Company Profile (Get a rating)
Flex Ltd. provides design, engineering, manufacturing and supply chain services and solutions to original equipment manufacturers in Asia, the Americas and Europe. It operates through two segments, Flex Agility Solutions (FAS) and Flex Reliability Solutions (FRS). The company offers a portfolio of technologies in the fields of electricity/electronics, electromechanics and software; and cross-industry technologies, including human-machine interface, audio and video, packaged system, miniaturization, IoT platforms, and power management.
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