$0.26 Earnings Per Share Expected for Flex Ltd (NASDAQ:FLEX) This Quarter

Wall Street analysts forecast that Flex Ltd (NASDAQ:FLEX) will report earnings per share (EPS) of $0.26 for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Flex’s earnings, with estimates ranging from $0.22 to $0.29. Flex posted earnings per share of $0.27 in the same quarter last year, which indicates a negative year-over-year growth rate of 3.7%. The business is expected to report its next earnings results on Tuesday, May 5th.

On average, analysts expect that Flex will report full year earnings of $1.21 per share for the current fiscal year, with EPS estimates ranging from $1.17 to $1.24. For the next financial year, analysts expect that the company will report earnings of $1.21 per share, with EPS estimates ranging from $0.80 to $1.43. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Flex.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.04. Flex had a negative return on equity of 0.86% and a negative net margin of 0.10%. The company had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.15 billion. During the same period in the previous year, the business earned $0.34 EPS. Flex’s quarterly revenue was down 6.7% on a year-over-year basis.

Several equities research analysts have commented on the company. Citigroup cut their price objective on Flex from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. JPMorgan Chase & Co. lowered Flex from an “overweight” rating to a “neutral” rating in a research note on Thursday, January 2nd. BidaskClub lowered Flex from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 18th. Finally, Goldman Sachs Group boosted their price objective on Flex from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $11.94.

NASDAQ:FLEX traded up $0.46 during trading hours on Friday, hitting $8.87. 7,492,500 shares of the stock were exchanged, compared to its average volume of 5,399,104. Flex has a 52-week low of $5.36 and a 52-week high of $14.00. The firm’s fifty day moving average price is $10.90 and its 200 day moving average price is $11.50. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 1.12. The company has a market cap of $3.86 billion, a P/E ratio of -221.75, a P/E/G ratio of 2.09 and a beta of 1.86.

In other news, insider Paul Humphries sold 15,168 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $13.39, for a total value of $203,099.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Revathi Advaithi sold 22,554 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $13.49, for a total value of $304,253.46. The disclosure for this sale can be found here. Insiders sold 195,256 shares of company stock valued at $2,561,285 over the last 90 days. Company insiders own 0.42% of the company’s stock.

Several hedge funds have recently bought and sold shares of FLEX. Sachem Head Capital Management LP purchased a new stake in shares of Flex in the third quarter valued at approximately $114,069,000. FMR LLC grew its position in shares of Flex by 41.8% in the fourth quarter. FMR LLC now owns 33,950,433 shares of the technology company’s stock valued at $428,455,000 after purchasing an additional 10,003,704 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Flex by 2,847.9% in the fourth quarter. Alliancebernstein L.P. now owns 6,812,508 shares of the technology company’s stock valued at $85,974,000 after purchasing an additional 6,581,409 shares in the last quarter. Norges Bank purchased a new stake in shares of Flex in the fourth quarter valued at approximately $69,235,000. Finally, Bank of America Corp DE grew its position in shares of Flex by 106.7% in the fourth quarter. Bank of America Corp DE now owns 5,346,627 shares of the technology company’s stock valued at $67,474,000 after purchasing an additional 2,760,118 shares in the last quarter. Institutional investors and hedge funds own 95.46% of the company’s stock.

Flex Company Profile

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.

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