$6.43 Billion in Sales Expected for Flex Ltd. (NASDAQ:FLEX) This Quarter

Wall Street brokerages predict that Flex Ltd. (NASDAQ:FLEX – Get Rating) will announce sales of $6.43 billion for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Flex’s earnings, with estimates ranging from $6.40 billion to $6.47 billion. Flex posted sales of $6.27 billion in the same quarter last year, which indicates a positive year over year growth rate of 2.6%. The business is scheduled to report its next quarterly earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Flex will report full-year sales of $25.62 billion for the current financial year, with estimates ranging from $25.59 billion to $25.66 billion. For the next fiscal year, analysts expect that the company will report sales of $27.72 billion, with estimates ranging from $27.65 billion to $27.80 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Flex.

FLEX has been the topic of several recent research reports. Craig Hallum decreased their price target on shares of Flex from $31.00 to $25.00 in a research report on Thursday, January 27th. Zacks Investment Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a research report on Friday, April 1st. Finally, StockNews.com started coverage on shares of Flex in a report on Thursday, March 31st. They issued a “hold” rating on the stock.

In related news, CEO Revathi Advaithi sold 32,367 shares of Flex stock in a transaction dated Monday, February 14th. The shares were sold at an average price of $17.08, for a total transaction of $552,828.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.43% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors boosted its position in Flex by 7.8% in the 3rd quarter. Captrust Financial Advisors now owns 8,035 shares of the technology company’s stock valued at $142,000 after buying an additional 584 shares during the period. Investors Research Corp boosted its position in Flex by 1.8% in the 1st quarter. Investors Research Corp now owns 37,752 shares of the technology company’s stock valued at $700,000 after buying an additional 650 shares during the period. Peapack Gladstone Financial Corp raised its holdings in shares of Flex by 2.2% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 31,582 shares of the technology company’s stock valued at $558,000 after purchasing an additional 673 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Flex by 4.7% in 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 in the last quarter. Finally, Comerica Bank raised its holdings in shares of Flex by 5.3% in the 1st quarter. Comerica Bank now owns 18,698 shares of the technology company’s stock valued at $329,000 after purchasing an additional 947 shares in the last quarter. 95.95% of the stock is owned by institutional investors.

FLEX opened at $16.58 on Tuesday. Flex has a 1 year low of $14.88 and a 1 year high of $19.50. The stock has a 50-day moving average price of $16.81 and a 200-day moving average price of $17.33. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.37 and a quick ratio of 0.75. The firm has a market cap of $7.69 billion, a PE ratio of 8.09, a P/E/G ratio of 0.61 and a beta of 1.53.

About Flex (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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