Analysts Expect Flextronics International Ltd. (FLEX) to Post $0.25 Earnings Per Share
Analysts expect Flextronics International Ltd. (NASDAQ:FLEX) to post earnings of $0.25 per share for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Flextronics International’s earnings, with the highest EPS estimate coming in at $0.27 and the lowest estimate coming in at $0.25. Flextronics International posted earnings of $0.28 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 10.7%. The business is expected to report its next quarterly earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Flextronics International will report full year earnings of $1.08 per share for the current fiscal year, with EPS estimates ranging from $1.07 to $1.12. For the next financial year, analysts forecast that the company will report earnings of $1.42 per share, with EPS estimates ranging from $1.38 to $1.50. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Flextronics International.
Flextronics International (NASDAQ:FLEX) last announced its earnings results on Thursday, July 27th. The technology company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. The firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.91 billion. Flextronics International had a net margin of 1.41% and a return on equity of 20.46%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 EPS.
FLEX has been the topic of several research analyst reports. Craig Hallum raised shares of Flextronics International from a “hold” rating to a “buy” rating in a research report on Friday, May 12th. Bank of America Corporation reissued a “buy” rating and issued a $19.50 price objective (up from $17.50) on shares of Flextronics International in a research report on Wednesday, May 17th. ValuEngine raised shares of Flextronics International from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub lowered shares of Flextronics International from a “hold” rating to a “sell” rating in a research report on Wednesday, June 14th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $21.00 price objective on shares of Flextronics International in a research report on Friday, June 16th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $17.55.
Shares of Flextronics International (FLEX) traded up 1.66% on Friday, reaching $16.54. 1,922,192 shares of the company traded hands. Flextronics International has a 52-week low of $12.41 and a 52-week high of $17.76. The stock has a 50 day moving average of $16.22 and a 200 day moving average of $16.41. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 26.30 and a beta of 0.79.
Flextronics International declared that its board has approved a share repurchase program on Friday, August 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 65% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.
In related news, insider David P. Bennett sold 6,250 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $17.02, for a total transaction of $106,375.00. Following the transaction, the insider now directly owns 54,299 shares of the company’s stock, valued at $924,168.98. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lay Koon Tan sold 2,728 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $15.93, for a total transaction of $43,457.04. Following the transaction, the director now directly owns 114,394 shares in the company, valued at $1,822,296.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 972,124 shares of company stock worth $15,872,864. 0.83% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank raised its position in Flextronics International by 26.1% in the first quarter. Toronto Dominion Bank now owns 5,969 shares of the technology company’s stock worth $100,000 after buying an additional 1,234 shares in the last quarter. Captrust Financial Advisors acquired a new position in Flextronics International during the second quarter worth approximately $171,000. Keybank National Association OH acquired a new position in Flextronics International during the first quarter worth approximately $199,000. Cambridge Investment Research Advisors Inc. raised its position in Flextronics International by 4.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,087 shares of the technology company’s stock worth $203,000 after buying an additional 516 shares in the last quarter. Finally, Airain ltd acquired a new position in Flextronics International during the second quarter worth approximately $203,000. 94.96% of the stock is currently owned by institutional investors and hedge funds.
Flextronics International 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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