Wall Street analysts expect Flex Ltd. (NASDAQ:FLEX – Get Rating) to announce earnings of $0.49 per share for the current quarter, Zacks reports. Three analysts have issued estimates for Flex’s earnings, with estimates ranging from $0.47 to $0.52. Flex posted earnings per share of $0.46 during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.5%. The business is expected to report its next earnings results on Monday, January 1st.
On average, analysts expect that Flex will report full year earnings of $2.16 per share for the current fiscal year, with EPS estimates ranging from $2.15 to $2.17. For the next financial year, analysts forecast that the firm will report earnings of $2.48 per share, with EPS estimates ranging from $2.41 to $2.60. Zacks’ EPS averages are an average based on a survey of research analysts that follow Flex.
Flex (NASDAQ:FLEX – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The technology company reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. The firm had revenue of $6.85 billion for the quarter, compared to the consensus estimate of $6.45 billion. Flex had a return on equity of 26.33% and a net margin of 3.60%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 EPS.
Several equities research analysts recently issued reports on the company. Argus upgraded Flex from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Wednesday. Zacks Investment Research upgraded Flex from a “hold” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a report on Friday, April 1st. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Friday, May 6th. Finally, Craig Hallum cut their price target on Flex from $31.00 to $25.00 in a report on Thursday, January 27th.
Shares of FLEX stock traded down $0.29 on Friday, hitting $15.80. The stock had a trading volume of 3,467,801 shares, compared to its average volume of 4,034,533. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.37 and a quick ratio of 0.75. The firm has a market capitalization of $7.33 billion, a P/E ratio of 8.14, a P/E/G ratio of 0.59 and a beta of 1.50. Flex has a 1 year low of $14.88 and a 1 year high of $19.50. The company’s 50 day moving average price is $16.94 and its 200-day moving average price is $17.16.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gabelli Funds LLC increased its holdings in shares of Flex by 15.3% in the 1st quarter. Gabelli Funds LLC now owns 362,728 shares of the technology company’s stock valued at $6,729,000 after acquiring an additional 48,100 shares during the last quarter. Walleye Capital LLC increased its holdings in shares of Flex by 11.7% in the 1st quarter. Walleye Capital LLC now owns 65,969 shares of the technology company’s stock valued at $1,224,000 after acquiring an additional 6,917 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Flex by 11.6% in the 1st quarter. Royal Bank of Canada now owns 279,468 shares of the technology company’s stock valued at $5,184,000 after purchasing an additional 29,027 shares during the period. Sessa Capital IM L.P. boosted its position in shares of Flex by 66.4% in the 1st quarter. Sessa Capital IM L.P. now owns 2,500,000 shares of the technology company’s stock valued at $46,375,000 after purchasing an additional 997,292 shares during the period. Finally, Delphia USA Inc. acquired a new stake in shares of Flex in the 1st quarter valued at about $240,000. Institutional investors and hedge funds own 95.95% of the company’s stock.
Flex Company Profile (Get 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 provides a portfolio of technologies in electrical/electronics, electromechanical, and software; and cross-industry technologies, including human machine interface, audio and video, system in package, miniaturization, IoT platforms, and power management.