Flex (FLEX) Scheduled to Post Earnings on Wednesday

Flex (NASDAQ:FLEX) will be releasing its earnings data before the market opens on Wednesday, May 1st. Analysts expect Flex to post earnings of $0.48 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.10. The business had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.73 billion. Flex had a net margin of 2.56% and a return on equity of 16.24%. On average, analysts expect Flex to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Flex Stock Performance

FLEX opened at $29.21 on Tuesday. Flex has a 1-year low of $19.85 and a 1-year high of $30.93. The company has a market capitalization of $12.30 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 1.81 and a beta of 1.20. The business has a 50 day moving average price of $28.48 and a two-hundred day moving average price of $26.80. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.59 and a quick ratio of 0.86.

Insider Buying and Selling

In other Flex news, EVP David Scott Offer sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $27.52, for a total value of $2,064,000.00. Following the completion of the transaction, the executive vice president now directly owns 162,094 shares in the company, valued at $4,460,826.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP David Scott Offer sold 75,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $27.52, for a total value of $2,064,000.00. Following the completion of the sale, the executive vice president now owns 162,094 shares of the company’s stock, valued at $4,460,826.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael P. Hartung sold 43,381 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $30.51, for a total value of $1,323,554.31. Following the transaction, the insider now directly owns 154,810 shares in the company, valued at $4,723,253.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 141,943 shares of company stock valued at $4,055,311. 0.56% of the stock is owned by corporate insiders.

Analyst Ratings Changes

FLEX has been the subject of several research reports. The Goldman Sachs Group raised their target price on Flex from $29.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. lifted their price objective on shares of Flex from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, StockNews.com assumed coverage on shares of Flex in a research note on Wednesday, March 6th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.20.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.