Equities analysts expect that Flex Ltd (NASDAQ:FLEX) will post $6.26 billion in sales for the current quarter, according to Zacks. Four analysts have made estimates for Flex’s earnings, with the lowest sales estimate coming in at $6.25 billion and the highest estimate coming in at $6.29 billion. Flex posted sales of $5.86 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.8%. The company is scheduled to announce its next quarterly earnings report on Thursday, April 26th.
According to Zacks, analysts expect that Flex will report full-year sales of $6.26 billion for the current year, with estimates ranging from $24.84 billion to $25.32 billion. For the next year, analysts anticipate that the firm will post sales of $26.28 billion per share, with estimates ranging from $25.74 billion to $26.80 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover Flex.
Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Thursday, January 25th. The technology company reported $0.31 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. The firm had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.50 billion. Flex had a net margin of 2.15% and a return on equity of 20.44%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 earnings per share.
Flex (NASDAQ:FLEX) opened at $16.92 on Wednesday. Flex has a 12-month low of $14.70 and a 12-month high of $19.71. The stock has a market cap of $8,930.00, a P/E ratio of 16.92, a PEG ratio of 0.92 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.
In other news, EVP David Scott Offer sold 45,000 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $17.71, for a total transaction of $796,950.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William D. Watkins sold 9,000 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $17.73, for a total transaction of $159,570.00. The disclosure for this sale can be found here. Insiders have sold 67,597 shares of company stock valued at $1,200,042 in the last three months. 0.83% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. Investment House LLC increased its position in shares of Flex by 1.1% during the fourth quarter. Investment House LLC now owns 272,250 shares of the technology company’s stock worth $4,898,000 after acquiring an additional 2,850 shares in the last quarter. IFP Advisors Inc grew its position in Flex by 11.0% in the fourth quarter. IFP Advisors Inc now owns 31,047 shares of the technology company’s stock valued at $559,000 after purchasing an additional 3,069 shares in the last quarter. ETRADE Capital Management LLC grew its position in Flex by 13.8% in the fourth quarter. ETRADE Capital Management LLC now owns 27,103 shares of the technology company’s stock valued at $488,000 after purchasing an additional 3,294 shares in the last quarter. Regentatlantic Capital LLC grew its position in Flex by 13.4% in the fourth quarter. Regentatlantic Capital LLC now owns 39,543 shares of the technology company’s stock valued at $711,000 after purchasing an additional 4,660 shares in the last quarter. Finally, First Personal Financial Services grew its position in Flex by 227.4% in the fourth quarter. First Personal Financial Services now owns 8,974 shares of the technology company’s stock valued at $161,000 after purchasing an additional 6,233 shares in the last quarter. 94.38% of the stock is owned by institutional investors.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Flex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flex and related companies with MarketBeat.com's FREE daily email newsletter.