Flex (FLEX) Scheduled to Post Earnings on Wednesday

Flex (NASDAQ:FLEX) will issue its quarterly earnings data before the market opens on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.48 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Flex (NASDAQ:FLEX) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.09. The firm had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $5.89 billion. Flex had a return on equity of 16.23% and a net margin of 3.54%. On average, analysts expect Flex to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Flex Trading Down 0.4 %

NASDAQ:FLEX opened at $34.26 on Wednesday. Flex has a 1 year low of $21.84 and a 1 year high of $35.84. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.75 and a current ratio of 1.40. The stock has a fifty day moving average price of $32.27 and a two-hundred day moving average price of $30.86. The stock has a market capitalization of $13.66 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 2.00 and a beta of 1.09.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FLEX. Stifel Nicolaus increased their price target on shares of Flex from $32.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Barclays lifted their price target on shares of Flex from $34.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. The Goldman Sachs Group set a $39.00 price target on Flex in a report on Thursday, October 17th. Craig Hallum raised Flex from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $27.00 to $39.00 in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. upped their target price on Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Flex currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.17.

Insider Buying and Selling at Flex

In related news, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $31.78, for a total transaction of $255,129.84. Following the transaction, the insider now directly owns 175,468 shares of the company’s stock, valued at approximately $5,576,373.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP David Scott Offer sold 10,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $31.99, for a total transaction of $319,900.00. Following the transaction, the executive vice president now owns 168,094 shares of the company’s stock, valued at approximately $5,377,327.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $31.78, for a total value of $255,129.84. Following the transaction, the insider now directly owns 175,468 shares in the company, valued at approximately $5,576,373.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,028 shares of company stock valued at $904,530 over the last three months. 0.82% of the stock is owned by company insiders.

About Flex

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.