Flex (FLEX) Set to Announce Earnings on Wednesday

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

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

Flex Stock Up 3.3 %

Flex stock opened at $28.53 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.86 and a current ratio of 1.59. Flex has a 52-week low of $19.44 and a 52-week high of $30.93. The firm has a 50 day moving average price of $28.43 and a two-hundred day moving average price of $26.75. The firm has a market cap of $12.02 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 1.69 and a beta of 1.20.

Insider Transactions at Flex

In other news, CAO Daniel Wendler sold 1,860 shares of Flex stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $28.89, for a total transaction of $53,735.40. Following the sale, the chief accounting officer now directly owns 28,730 shares in the company, valued at approximately $830,009.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Kwang Hooi Tan sold 8,027 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $28.81, for a total value of $231,257.87. Following the sale, the insider now directly owns 159,718 shares in the company, valued at approximately $4,601,475.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Daniel Wendler sold 1,860 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $28.89, for a total value of $53,735.40. Following the completion of the sale, the chief accounting officer now owns 28,730 shares in the company, valued at $830,009.70. The disclosure for this sale can be found here. Insiders have sold 141,943 shares of company stock worth $4,055,311 in the last ninety days. Company insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on FLEX shares. The Goldman Sachs Group lifted their price objective on shares of Flex from $29.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. lifted their price target on shares of Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, StockNews.com began coverage on shares of Flex in a report on Wednesday, March 6th. They set a “hold” rating on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Flex has a consensus rating of “Moderate Buy” and a consensus target price 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.