EPS of $0.49 expected for Flex Ltd. (NASDAQ: FLEX) this quarter
Wall Street analysts expect Flex Ltd. (NASDAQ:FLEX – Get Rating) reports earnings of $0.49 per share for the current quarter, Zacks reports. Three analysts have released earnings estimates for Flex, with estimates ranging from $0.47 to $0.52. Flex posted earnings per share of $0.46 in the same quarter last year, which would indicate a positive growth rate of 6.5% year over year. The company is expected to release its next results on Monday, January 1.
On average, analysts expect Flex to report full year earnings of $2.16 per share for the current fiscal year, with EPS estimates ranging from $2.15 to $2.17. For the next fiscal year, analysts expect the company to post earnings of $2.48 per share, with EPS estimates ranging from $2.41 to $2.60. Zacks EPS averages are an average based on a survey of research analysts who track Flex.
Flex (NASDAQ:FLEX – Get Rating) last released its quarterly earnings data on Wednesday, May 4. The tech company reported earnings per share (EPS) of $0.36 for the quarter, matching the consensus estimate of $0.36. The company posted revenue of $6.85 billion for the quarter, versus a consensus estimate of $6.45 billion. Flex had a return on equity of 26.33% and a net margin of 3.60%. The company’s quarterly revenue increased by 9.3% compared to the same quarter last year. In the same quarter of the previous year, the company achieved EPS of $0.47.
Several equity research analysts have recently released reports on the company. Argus upgraded Flex from a “hold” rating to a “buy” rating and set a price target of $22.00 on the stock in a report released Wednesday. Zacks Investment Research upgraded Flex from a “hold” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a Friday, April 1, report. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a Friday, May 6 report. Finally, Craig Hallum cut his price target on Flex from $31.00 to $25.00 in a Thursday, January 27 report.
Shares of FLEX traded down $0.29 on Friday, hitting $15.80. The stock recorded a trading volume of 3,467,801 shares, compared to an average volume of 4,034,533 shares. The company has a debt ratio of 1.04, a current ratio of 1.37 and a quick ratio of 0.75. The company has a market capitalization of $7.33 billion, a P/E ratio of 8.14, a P/E/G ratio of 0.59 and a beta of 1.50. Flex has a 1-year minimum of $14.88 and a 1-year maximum of $19.50. The company’s 50-day moving average price is $16.94 and its 200-day moving average price is $17.16.
Several institutional investors and hedge funds have recently increased or reduced their stake in the company. Gabelli Funds LLC increased its holdings of Flex shares by 15.3% in Q1. Gabelli Funds LLC now owns 362,728 shares of the technology company valued at $6,729,000 after acquiring an additional 48,100 shares in the last quarter. Walleye Capital LLC increased its equity stake in Flex by 11.7% in Q1. Walleye Capital LLC now owns 65,969 shares of the technology company valued at $1,224,000 after acquiring 6,917 additional shares in the last quarter. Royal Bank of Canada increased its position in Flex shares by 11.6% in the first quarter. Royal Bank of Canada now owns 279,468 shares of the tech company valued at $5,184,000 after purchasing an additional 29,027 shares during the period. Sessa Capital IM LP increased its position in Flex shares by 66.4% in the 1st quarter. Sessa Capital IM LP now owns 2,500,000 shares of the technology company valued at $46,375,000 after purchasing an additional 997,292 shares during the period. Finally, Delphia USA Inc. acquired a new equity stake in Flex in Q1 worth approximately $240,000. Institutional investors and hedge funds own 95.95% of the company’s shares.
Flex Company Profile (Get an assessment)
Flex Ltd. provides design, engineering, manufacturing and supply chain services and solutions to original equipment manufacturers in Asia, the Americas and Europe. It operates through two segments, Flex Agility Solutions (FAS) and Flex Reliability Solutions (FRS). The company offers a portfolio of technologies in the fields of electricity/electronics, electromechanics and software; and cross-industry technologies, including human-machine interface, audio and video, packaged system, miniaturization, IoT platforms, and power management.
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