Analysts Expect Flex (FLEX) to Post $0.30 EPS

Equities analysts expect that Flex (NASDAQ:FLEX) will report earnings of $0.30 per share for the current quarter, according to Zacks. Four analysts have issued estimates for Flex’s earnings. The lowest EPS estimate is $0.29 and the highest is $0.31. Flex posted earnings per share of $0.29 during the same quarter last year, which would indicate a positive year over year growth rate of 3.4%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Thursday, April 26th.

On average, analysts expect that Flex will report full-year earnings of $1.11 per share for the current financial year, with EPS estimates ranging from $1.10 to $1.12. For the next financial year, analysts expect that the company will report earnings of $1.43 per share, with EPS estimates ranging from $1.41 to $1.46. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Flex.

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Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Thursday, January 25th. The technology company reported $0.31 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. Flex had a net margin of 2.15% and a return on equity of 20.44%. The company had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.50 billion. During the same quarter in the prior year, the company earned $0.34 EPS. Flex’s quarterly revenue was up 10.4% on a year-over-year basis.

Several equities analysts recently weighed in on FLEX shares. UBS reiterated a “buy” rating and issued a $21.50 price target on shares of Flex in a report on Tuesday, December 19th. BidaskClub downgraded shares of Flex from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Needham & Company LLC increased their price target on shares of Flex from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Bank of America raised their price objective on shares of Flex from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Finally, ValuEngine raised shares of Flex from a “hold” rating to a “buy” rating in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. Flex currently has an average rating of “Buy” and a consensus price target of $20.39.

In other news, Director Willy C. Shih sold 13,597 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $17.91, for a total transaction of $243,522.27. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.83% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. First Personal Financial Services grew its stake in shares of Flex by 227.4% during the 4th quarter. First Personal Financial Services now owns 8,974 shares of the technology company’s stock worth $161,000 after purchasing an additional 6,233 shares during the period. CIBC World Markets Inc. purchased a new position in shares of Flex during the 4th quarter valued at approximately $196,000. Sciencast Management LP purchased a new position in shares of Flex during the 4th quarter valued at approximately $226,000. Quantitative Systematic Strategies LLC purchased a new position in shares of Flex during the 4th quarter valued at approximately $236,000. Finally, Capital Fund Management S.A. purchased a new position in shares of Flex during the 4th quarter valued at approximately $240,000. 97.59% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:FLEX opened at $15.99 on Wednesday. Flex has a twelve month low of $14.70 and a twelve month high of $19.71. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.72 and a current ratio of 1.22. The company has a market capitalization of $8,648.43, a P/E ratio of 15.32, a price-to-earnings-growth ratio of 0.83 and a beta of 0.85.

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Flex Company Profile

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It offers innovation services, such as innovations labs for supporting customer design and product development services from early concept stages; collective innovation platform, an ecosystem of technology solutions; Lab IX, a startup accelerator program; centers of excellence solutions in critical areas; interconnect technology center for printed circuits; and CloudLabs that enables customers to accelerate a spectrum of cloud, converged infrastructure, and datacenter strategies.

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