Zacks: Analysts Expect Flex Ltd (FLEX) Will Post Earnings of $0.29 Per Share

Equities research analysts predict that Flex Ltd (NASDAQ:FLEX) will announce earnings per share of $0.29 for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Flex’s earnings. The highest EPS estimate is $0.31 and the lowest is $0.28. Flex also reported earnings of $0.29 per share during the same quarter last year. The company is expected to report its next 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 financial year, with EPS estimates ranging from $1.09 to $1.12. For the next year, analysts expect that the company 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 an average based on a survey of analysts that cover Flex.

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

FLEX has been the topic of a number of research reports. BidaskClub cut shares of Flex from a “hold” rating to a “sell” rating in a report on Friday, January 26th. Stifel Nicolaus boosted their target price on shares of Flex from $20.00 to $22.00 and gave the company a “buy” rating in a report on Friday, January 26th. Bank of America boosted their target price on shares of Flex from $20.00 to $22.00 and gave the company a “buy” rating in a report on Friday, January 26th. Citigroup boosted their target price on shares of Flex from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, October 27th. Finally, ValuEngine upgraded shares of Flex from a “hold” rating to a “buy” rating in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $20.56.

Shares of Flex (FLEX) traded up $0.29 during mid-day trading on Monday, hitting $17.02. 3,841,878 shares of the stock were exchanged, compared to its average volume of 4,554,958. Flex has a 1 year low of $14.70 and a 1 year high of $19.71. The company has a market cap of $8,980.00, a PE ratio of 17.02, a PEG ratio of 0.92 and a beta of 0.80. The company has a current ratio of 1.22, a quick ratio of 0.72 and a debt-to-equity ratio of 0.97.

In related news, EVP David Scott Offer sold 45,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $17.71, for a total value of $796,950.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Willy C. Shih sold 13,597 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $17.91, for a total transaction of $243,522.27. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,597 shares of company stock worth $1,200,042. 0.83% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. Brown Advisory Inc. boosted its stake in Flex by 3.9% in the 4th quarter. Brown Advisory Inc. now owns 252,896 shares of the technology company’s stock worth $4,551,000 after purchasing an additional 9,541 shares in the last quarter. Pzena Investment Management LLC boosted its stake in Flex by 5.0% in the 4th quarter. Pzena Investment Management LLC now owns 4,648,765 shares of the technology company’s stock worth $83,632,000 after purchasing an additional 220,770 shares in the last quarter. First Republic Investment Management Inc. boosted its stake in Flex by 4.2% in the 4th quarter. First Republic Investment Management Inc. now owns 394,572 shares of the technology company’s stock worth $7,098,000 after purchasing an additional 15,901 shares in the last quarter. Itau Unibanco Holding S.A. boosted its stake in Flex by 28.4% in the 4th quarter. Itau Unibanco Holding S.A. now owns 40,339 shares of the technology company’s stock worth $726,000 after purchasing an additional 8,913 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in Flex by 67.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 37,693 shares of the technology company’s stock worth $678,000 after purchasing an additional 15,224 shares in the last quarter. Institutional investors own 94.38% of the company’s stock.

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About Flex

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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