Flex (NASDAQ:FLEX) Updates Q2 Earnings Guidance

Flex (NASDAQ:FLEX) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.52-0.60 for the period, compared to the consensus earnings per share estimate of $0.55. The company issued revenue guidance of $6.2-6.8 billion, compared to the consensus revenue estimate of $6.27 billion. Flex also updated its FY 2025 guidance to 2.300-2.500 EPS.

Wall Street Analyst Weigh In

A number of research firms recently commented on FLEX. StockNews.com lowered shares of Flex from a buy rating to a hold rating in a research report on Thursday. Barclays raised their target price on shares of Flex from $34.00 to $39.00 and gave the company an overweight rating in a report on Thursday. JPMorgan Chase & Co. raised their target price on shares of Flex from $34.00 to $40.00 and gave the company an overweight rating in a report on Tuesday. Stifel Nicolaus raised their target price on shares of Flex from $32.00 to $37.00 and gave the company a buy rating in a report on Thursday. Finally, Craig Hallum raised shares of Flex from a hold rating to a buy rating and raised their target price for the company from $27.00 to $39.00 in a report on Thursday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Flex has an average rating of Moderate Buy and a consensus target price of $38.40.

Flex Trading Up 3.3 %

NASDAQ:FLEX traded up $1.02 during mid-day trading on Friday, hitting $31.96. 1,552,256 shares of the company’s stock were exchanged, compared to its average volume of 4,540,564. The company has a 50 day simple moving average of $31.08 and a 200-day simple moving average of $28.54. The company has a current ratio of 1.52, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. Flex has a fifty-two week low of $21.84 and a fifty-two week high of $34.12. The firm has a market capitalization of $12.75 billion, a P/E ratio of 13.45, a PEG ratio of 2.13 and a beta of 1.12.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. Flex had a net margin of 3.54% and a return on equity of 15.53%. The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.10 billion. As a group, research analysts expect that Flex will post 2.06 earnings per share for the current year.

Insider Activity

In other news, CFO Paul Lundstrom sold 200,000 shares of Flex stock in a transaction on Monday, June 10th. The shares were sold at an average price of $32.46, for a total value of $6,492,000.00. Following the completion of the sale, the chief financial officer now owns 294,027 shares in the company, valued at approximately $9,544,116.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Flex news, CAO Daniel Wendler sold 1,275 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $31.30, for a total transaction of $39,907.50. Following the completion of the sale, the chief accounting officer now owns 32,510 shares in the company, valued at approximately $1,017,563. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Paul Lundstrom sold 200,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $32.46, for a total transaction of $6,492,000.00. Following the sale, the chief financial officer now owns 294,027 shares of the company’s stock, valued at approximately $9,544,116.42. The disclosure for this sale can be found here. Insiders sold 804,542 shares of company stock worth $25,147,972 in the last quarter. 0.82% of the stock is owned by corporate insiders.

About Flex

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.