Zacks: Brokerages Anticipate Flex Ltd (FLEX) Will Announce Earnings of $0.29 Per Share

Wall Street analysts expect that Flex Ltd (NASDAQ:FLEX) will announce earnings per share (EPS) of $0.29 for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Flex’s earnings, with the highest EPS estimate coming in at $0.31 and the lowest estimate coming in at $0.28. Flex also posted earnings per share of $0.29 during the same quarter last year. The company is scheduled to report its next quarterly earnings results on Thursday, April 26th.

On average, analysts expect that Flex will report full-year earnings of $1.10 per share for the current fiscal year, with EPS estimates ranging from $1.09 to $1.12. For the next financial year, analysts anticipate that the business will report earnings of $1.42 per share, with EPS estimates ranging from $1.40 to $1.46. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Flex.

Flex (NASDAQ:FLEX) last announced its earnings results on Thursday, January 25th. The technology company reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. Flex had a return on equity of 20.44% and a net margin of 2.15%. The firm had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.50 billion. During the same period last year, the firm posted $0.34 EPS. The business’s revenue was up 10.4% compared to the same quarter last year.

FLEX has been the subject of several research analyst reports. ValuEngine raised Flex from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. UBS Group reaffirmed a “buy” rating and set a $21.50 target price on shares of Flex in a research report on Tuesday, December 19th. Argus raised their target price on Flex from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. Citigroup raised their target price on Flex from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Finally, Stifel Nicolaus raised their target price on Flex from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, October 27th. One 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’s stock. The company currently has an average rating of “Buy” and a consensus price target of $20.56.

In related news, Director Willy C. Shih sold 13,597 shares of Flex stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $17.91, for a total value of $243,522.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William D. Watkins sold 9,000 shares of Flex stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $17.73, for a total value of $159,570.00. The disclosure for this sale can be found here. In the last three months, insiders sold 67,597 shares of company stock valued at $1,200,042. 0.83% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Zeke Capital Advisors LLC increased its holdings in Flex by 144.4% in the 4th quarter. Zeke Capital Advisors LLC now owns 123,485 shares of the technology company’s stock worth $2,221,000 after acquiring an additional 72,968 shares during the last quarter. LPL Financial LLC increased its holdings in Flex by 22.4% in the 4th quarter. LPL Financial LLC now owns 71,417 shares of the technology company’s stock worth $1,285,000 after acquiring an additional 13,073 shares during the last quarter. Sciencast Management LP purchased a new stake in Flex in the 4th quarter worth about $226,000. NWQ Investment Management Company LLC increased its holdings in Flex by 39.7% in the 4th quarter. NWQ Investment Management Company LLC now owns 1,871,232 shares of the technology company’s stock worth $33,663,000 after acquiring an additional 531,683 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new stake in Flex in the 4th quarter worth about $404,000. 94.38% of the stock is owned by institutional investors.

Shares of Flex (NASDAQ FLEX) opened at $17.08 on Monday. Flex has a 12-month low of $14.70 and a 12-month high of $19.71. The stock has a market capitalization of $8,928.10, a price-to-earnings ratio of 17.25, a PEG ratio of 0.93 and a beta of 0.80. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.72 and a current ratio of 1.22.

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Flex 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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