$0.26 Earnings Per Share Expected for Flex Ltd (NASDAQ:FLEX) This Quarter

Wall Street brokerages expect Flex Ltd (NASDAQ:FLEX) to report $0.26 earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for Flex’s earnings, with the highest EPS estimate coming in at $0.29 and the lowest estimate coming in at $0.22. Flex posted earnings of $0.27 per share in the same quarter last year, which suggests a negative year over year growth rate of 3.7%. The business is scheduled to issue its next earnings results on Tuesday, May 5th.

On average, analysts expect that Flex will report full year earnings of $1.21 per share for the current year, with EPS estimates ranging from $1.17 to $1.24. For the next financial year, analysts forecast that the business will post earnings of $1.21 per share, with EPS estimates ranging from $0.80 to $1.43. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Flex.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.04. Flex had a negative return on equity of 0.86% and a negative net margin of 0.10%. The business had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.15 billion. During the same period last year, the business posted $0.34 EPS. The business’s revenue was down 6.7% compared to the same quarter last year.

Several research analysts recently weighed in on the company. Citigroup dropped their target price on Flex from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. BidaskClub downgraded Flex from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 18th. Goldman Sachs Group boosted their target price on Flex from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, JPMorgan Chase & Co. downgraded Flex from an “overweight” rating to a “neutral” rating in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $11.94.

In other Flex news, CAO David P. Bennett sold 19,000 shares of Flex stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $12.66, for a total transaction of $240,540.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Revathi Advaithi sold 22,554 shares of Flex stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $13.49, for a total value of $304,253.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 195,256 shares of company stock worth $2,561,285. 0.42% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Sunbelt Securities Inc. acquired a new stake in Flex during the 4th quarter worth about $4,329,000. Americana Partners LLC acquired a new stake in Flex during the 4th quarter worth about $28,000. Global Retirement Partners LLC acquired a new stake in Flex during the 4th quarter worth about $30,000. Valeo Financial Advisors LLC lifted its position in Flex by 181.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 3,123 shares of the technology company’s stock worth $39,000 after acquiring an additional 2,014 shares during the period. Finally, Total Clarity Wealth Management Inc. acquired a new stake in Flex during the 4th quarter worth about $53,000. 95.46% of the stock is owned by institutional investors.

FLEX stock traded up $0.46 on Friday, hitting $8.87. 7,492,500 shares of the company’s stock were exchanged, compared to its average volume of 5,399,104. Flex has a 12-month low of $5.36 and a 12-month high of $14.00. The firm has a 50 day moving average price of $10.90 and a two-hundred day moving average price of $11.50. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.75 and a current ratio of 1.24. The stock has a market cap of $3.86 billion, a P/E ratio of -221.75, a price-to-earnings-growth ratio of 2.09 and a beta of 1.86.

About Flex

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.

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