Flex (NASDAQ:FLEX – Get Rating) updated its fourth quarter 2022 earnings guidance on Wednesday. The company provided EPS guidance of $0.410-$0.460 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.420. The company issued revenue guidance of $6.20 billion-$6.60 billion, compared to the consensus revenue estimate of $5.86 billion.Flex also updated its FY 2022 guidance to $1.850-$1.900 EPS.
Shares of NASDAQ FLEX opened at $16.65 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 1.37 and a debt-to-equity ratio of 1.04. The stock’s 50 day moving average price is $16.92 and its two-hundred day moving average price is $17.49. Flex has a 52-week low of $14.88 and a 52-week high of $19.50. The stock has a market capitalization of $7.73 billion, a P/E ratio of 8.12, a PEG ratio of 0.62 and a beta of 1.53.
Flex (NASDAQ:FLEX – Get Rating) last posted its quarterly earnings results on Wednesday, January 26th. The technology company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.13. The business had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.31 billion. Flex had a return on equity of 28.60% and a net margin of 3.96%. During the same period in the prior year, the company posted $0.41 EPS. On average, analysts anticipate that Flex will post 1.62 EPS for the current year.
In other news, CEO Revathi Advaithi sold 32,367 shares of the business’s stock in a transaction on Monday, February 14th. The stock was sold at an average price of $17.08, for a total value of $552,828.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.43% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of FLEX. Public Employees Retirement System of Ohio raised its stake in Flex by 4.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 18,458 shares of the technology company’s stock valued at $338,000 after purchasing an additional 830 shares during the period. Peapack Gladstone Financial Corp boosted its stake in shares of Flex by 3.2% during the 4th quarter. Peapack Gladstone Financial Corp now owns 32,582 shares of the technology company’s stock valued at $597,000 after buying an additional 1,000 shares during the period. Bank of Montreal Can increased its stake in shares of Flex by 3.9% in the fourth quarter. Bank of Montreal Can now owns 26,968 shares of the technology company’s stock worth $498,000 after acquiring an additional 1,007 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Flex by 2.5% during the fourth quarter. Stifel Financial Corp now owns 137,714 shares of the technology company’s stock worth $2,524,000 after acquiring an additional 3,333 shares in the last quarter. Finally, William Blair Investment Management LLC grew its stake in Flex by 15.3% in the fourth quarter. William Blair Investment Management LLC now owns 26,243 shares of the technology company’s stock valued at $481,000 after purchasing an additional 3,482 shares in the last quarter. Institutional investors and hedge funds own 95.93% of the company’s stock.
Flex Company Profile (Get Rating)
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 provides a portfolio of technologies in electrical/electronics, electromechanical, and software; and cross-industry technologies, including human machine interface, audio and video, system in package, miniaturization, IoT platforms, and power management.
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