Equities research analysts predict that Flextronics International Ltd. (NASDAQ:FLEX) will announce earnings of $0.25 per share for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Flextronics International’s earnings, with the lowest EPS estimate coming in at $0.25 and the highest estimate coming in at $0.27. Flextronics International reported earnings per share of $0.28 during the same quarter last year, which suggests a negative year-over-year growth rate of 10.7%. The company is scheduled to report its next quarterly earnings report after the market closes on Thursday, October 26th.
According to Zacks, analysts expect that Flextronics International will report full-year earnings of $1.08 per share for the current financial year, with EPS estimates ranging from $1.07 to $1.12. For the next year, analysts expect that the business will post earnings of $1.42 per share, with EPS estimates ranging from $1.38 to $1.50. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Flextronics International.
Flextronics International (NASDAQ:FLEX) last posted its quarterly earnings data on Thursday, July 27th. The technology company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. Flextronics International had a net margin of 1.41% and a return on equity of 20.46%. The firm had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the company posted $0.27 EPS. Flextronics International’s revenue was up 2.2% on a year-over-year basis.
FLEX has been the subject of several analyst reports. Royal Bank Of Canada reaffirmed a “buy” rating and set a $19.00 price target on shares of Flextronics International in a research note on Friday, September 1st. ValuEngine raised shares of Flextronics International from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Needham & Company LLC raised their price target on shares of Flextronics International from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. Zacks Investment Research raised shares of Flextronics International from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Macquarie initiated coverage on shares of Flextronics International in a research note on Thursday, June 22nd. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Flextronics International presently has an average rating of “Buy” and a consensus price target of $17.56.
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Flextronics International (FLEX) traded up 0.52% on Tuesday, reaching $17.47. 950,591 shares of the company traded hands. Flextronics International has a 52-week low of $13.34 and a 52-week high of $17.76. The stock has a 50-day moving average of $16.61 and a 200 day moving average of $16.44. The company has a market capitalization of $9.30 billion, a PE ratio of 27.77 and a beta of 0.83.
Flextronics International declared that its Board of Directors has initiated a share repurchase plan on Friday, August 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to repurchase up to 65% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director Lay Koon Tan sold 2,728 shares of Flextronics International stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $15.93, for a total transaction of $43,457.04. Following the completion of the transaction, the director now directly owns 114,394 shares in the company, valued at $1,822,296.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Willy C. Shih sold 25,000 shares of Flextronics International stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $16.03, for a total transaction of $400,750.00. Following the transaction, the director now owns 206,895 shares of the company’s stock, valued at $3,316,526.85. The disclosure for this sale can be found here. Insiders have sold 33,978 shares of company stock valued at $550,582 over the last quarter. Corporate insiders own 0.83% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Trust N.A. grew its holdings in shares of Flextronics International by 2.3% during the second quarter. Raymond James Trust N.A. now owns 13,483 shares of the technology company’s stock valued at $220,000 after buying an additional 309 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Flextronics International by 4.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,087 shares of the technology company’s stock valued at $203,000 after buying an additional 516 shares during the last quarter. Logan Capital Management Inc. grew its holdings in shares of Flextronics International by 1.1% during the first quarter. Logan Capital Management Inc. now owns 56,524 shares of the technology company’s stock valued at $950,000 after buying an additional 600 shares during the last quarter. Creative Planning grew its holdings in shares of Flextronics International by 0.5% during the second quarter. Creative Planning now owns 144,326 shares of the technology company’s stock valued at $2,354,000 after buying an additional 746 shares during the last quarter. Finally, IFP Advisors Inc grew its holdings in shares of Flextronics International by 3.5% during the second quarter. IFP Advisors Inc now owns 24,625 shares of the technology company’s stock valued at $402,000 after buying an additional 832 shares during the last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.
Flextronics International Company Profile
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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