Flextronics International Receives Consensus Recommendation of “Hold” from Analysts (NASDAQ:FLEX)
Shares of Flextronics International (NASDAQ:FLEX) have received a consensus recommendation of “Hold” from the nine brokerages that are covering the company, AnalystRatings.Net reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $11.15.
Flextronics International (NASDAQ:FLEX) opened at 10.39 on Monday. Flextronics International has a one year low of $7.01 and a one year high of $11.49. The stock’s 50-day moving average is $11.02 and its 200-day moving average is $9.63. The company has a market cap of $6.247 billion and a price-to-earnings ratio of 13.35.
Flextronics International (NASDAQ:FLEX) last released its earnings data on Thursday, July 24th. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.22 by $0.03. The company had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.29 billion. During the same quarter in the prior year, the company posted $0.18 earnings per share. The company’s quarterly revenue was up 14.7% on a year-over-year basis. On average, analysts predict that Flextronics International will post $1.00 earnings per share for the current fiscal year.
FLEX has been the subject of a number of recent research reports. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Flextronics International in a research note on Friday, July 25th. They now have a $12.00 price target on the stock, up previously from $9.00. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Flextronics International in a research note on Friday, July 25th. They now have a $12.00 price target on the stock, up previously from $10.00. Finally, analysts at RBC Capital raised their price target on shares of Flextronics International from $11.00 to $12.00 in a research note on Friday, June 6th. They now have an “outperform” rating on the stock.
In other Flextronics International news, CAO David P. Bennett sold 6,250 shares of Flextronics International stock on the open market in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $10.84, for a total value of $67,750.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
Flextronics International Ltd. (NASDAQ:FLEX) is a global provider of global supply chain solutions, through which the Company designs, build, ship and services a packaged electronic product to original equipment manufacturers (OEMs) in the markets, which include High Reliability Solutions (HRS), which is consists of its medical, automotive, defense and aerospace businesses; High Velocity Solutions (HVS), which includes its mobile devices business, including smart phones, and consumer electronics, including game consoles, high-volume computing business, including notebook personal computing (PC), tablets and printers; Industrial and Emerging Industries (IEI), which is consists of its household appliances, equipment, and industries businesses, and Integrated Network Solutions (INS), which includes its telecommunications infrastructure, data networking, connected home, and server and storage businesses.
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