Flex (FLEX) to Release Earnings on Wednesday

Flex (NASDAQ:FLEX) is scheduled to issue its quarterly earnings data before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.48 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.10. The firm had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.73 billion. Flex had a return on equity of 16.24% and a net margin of 2.56%. On average, analysts expect Flex to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Flex Stock Performance

FLEX stock opened at $28.53 on Wednesday. The business has a 50-day moving average price of $28.43 and a 200 day moving average price of $26.75. Flex has a 1-year low of $19.44 and a 1-year high of $30.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.59 and a quick ratio of 0.86. The company has a market capitalization of $12.02 billion, a P/E ratio of 16.98, a PEG ratio of 1.69 and a beta of 1.20.

Insider Buying and Selling at Flex

In other Flex news, EVP David Scott Offer sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $27.52, for a total value of $2,064,000.00. Following the completion of the transaction, the executive vice president now directly owns 162,094 shares of the company’s stock, valued at $4,460,826.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Kwang Hooi Tan sold 8,027 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $28.81, for a total transaction of $231,257.87. Following the completion of the transaction, the insider now directly owns 159,718 shares of the company’s stock, valued at approximately $4,601,475.58. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP David Scott Offer sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $27.52, for a total value of $2,064,000.00. Following the sale, the executive vice president now owns 162,094 shares of the company’s stock, valued at $4,460,826.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 141,943 shares of company stock valued at $4,055,311. 0.56% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FLEX. StockNews.com began coverage on Flex in a research note on Wednesday, March 6th. They issued a “hold” rating on the stock. The Goldman Sachs Group boosted their price target on Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Finally, JPMorgan Chase & Co. upped their target price on Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Flex presently has an average rating of “Moderate Buy” and a consensus price target of $34.20.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.