Flex Ltd (FLEX) Expected to Post Earnings of $0.30 Per Share

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Equities research analysts forecast that Flex Ltd (NASDAQ:FLEX) will post earnings of $0.30 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Flex’s earnings, with estimates ranging from $0.29 to $0.31. Flex reported earnings per share of $0.31 in the same quarter last year, which indicates a negative year-over-year growth rate of 3.2%. The company is scheduled to issue its next earnings report after the market closes on Wednesday, January 30th.

According to Zacks, analysts expect that Flex will report full year earnings of $1.09 per share for the current year, with EPS estimates ranging from $1.08 to $1.10. For the next financial year, analysts expect that the firm will report earnings of $1.27 per share, with EPS estimates ranging from $1.23 to $1.30. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Flex.

Flex (NASDAQ:FLEX) last posted its quarterly earnings results on Thursday, October 25th. The technology company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Flex had a return on equity of 9.83% and a net margin of 1.15%. The business had revenue of $6.71 billion during the quarter, compared to analysts’ expectations of $6.81 billion.

A number of equities analysts recently commented on FLEX shares. ValuEngine cut Flex from a “hold” rating to a “sell” rating in a report on Saturday, October 6th. Needham & Company LLC cut Flex from a “buy” rating to a “hold” rating in a report on Friday, October 26th. Goldman Sachs Group cut Flex from a “buy” rating to a “neutral” rating in a report on Friday, October 26th. Macquarie set a $9.00 price objective on Flex and gave the stock a “hold” rating in a report on Monday, October 29th. Finally, Argus cut Flex from a “buy” rating to a “hold” rating in a report on Tuesday, October 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $16.75.

Flex stock traded up $0.06 during midday trading on Friday, reaching $8.04. 6,334,330 shares of the company’s stock were exchanged, compared to its average volume of 7,997,800. Flex has a 52 week low of $6.74 and a 52 week high of $19.71. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.69 and a current ratio of 1.23. The stock has a market capitalization of $4.22 billion, a P/E ratio of 10.05, a PEG ratio of 0.94 and a beta of 1.55.

In related news, EVP David Scott Offer purchased 27,027 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The stock was acquired at an average cost of $7.48 per share, for a total transaction of $202,161.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marc A. Onetto purchased 11,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 4th. The stock was bought at an average price of $8.49 per share, with a total value of $97,635.00. The disclosure for this purchase can be found here. Insiders own 0.88% of the company’s stock.

Several hedge funds have recently modified their holdings of FLEX. First Trust Advisors LP boosted its stake in shares of Flex by 47.2% in the second quarter. First Trust Advisors LP now owns 34,375 shares of the technology company’s stock valued at $485,000 after buying an additional 11,026 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Flex by 5.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 215,394 shares of the technology company’s stock valued at $3,040,000 after buying an additional 11,081 shares during the period. FMR LLC boosted its stake in shares of Flex by 119.1% in the second quarter. FMR LLC now owns 2,119,263 shares of the technology company’s stock valued at $29,903,000 after buying an additional 1,152,051 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Flex by 63.9% in the second quarter. Envestnet Asset Management Inc. now owns 16,773 shares of the technology company’s stock valued at $237,000 after buying an additional 6,539 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of Flex in the second quarter valued at approximately $365,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

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.

Further Reading: How To Calculate Debt-to-Equity Ratio

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