Wall Street analysts forecast that Flex Ltd (NASDAQ:FLEX) will post sales of $6.26 billion for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Flex’s earnings, with the lowest sales estimate coming in at $6.25 billion and the highest estimate coming in at $6.29 billion. Flex posted sales of $5.86 billion during the same quarter last year, which suggests a positive year over year growth rate of 6.8%. The business is expected to announce its next earnings report on Thursday, April 26th.
According to Zacks, analysts expect that Flex will report full year sales of $6.26 billion for the current financial year, with estimates ranging from $24.84 billion to $25.32 billion. For the next financial year, analysts anticipate that the business will report sales of $26.28 billion per share, with estimates ranging from $25.74 billion to $26.80 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Flex.
Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Thursday, January 25th. The technology company reported $0.31 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.31. The firm had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.50 billion. Flex had a net margin of 2.15% and a return on equity of 20.44%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 earnings per share.
In related news, Director Willy C. Shih sold 13,597 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $17.91, for a total transaction of $243,522.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William D. Watkins sold 9,000 shares of the firm’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $17.73, for a total transaction of $159,570.00. The disclosure for this sale can be found here. Insiders have sold 67,597 shares of company stock valued at $1,200,042 over the last ninety days. 0.83% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. South Street Advisors LLC grew its stake in Flex by 4.7% during the fourth quarter. South Street Advisors LLC now owns 238,570 shares of the technology company’s stock valued at $4,291,000 after acquiring an additional 10,730 shares in the last quarter. Zeke Capital Advisors LLC grew its stake in Flex by 144.4% during the fourth quarter. Zeke Capital Advisors LLC now owns 123,485 shares of the technology company’s stock valued at $2,221,000 after acquiring an additional 72,968 shares in the last quarter. LPL Financial LLC grew its stake in Flex by 22.4% during the fourth quarter. LPL Financial LLC now owns 71,417 shares of the technology company’s stock valued at $1,285,000 after acquiring an additional 13,073 shares in the last quarter. Sciencast Management LP purchased a new position in Flex during the fourth quarter valued at $226,000. Finally, NWQ Investment Management Company LLC grew its stake in shares of Flex by 39.7% in the 4th quarter. NWQ Investment Management Company LLC now owns 1,871,232 shares of the technology company’s stock worth $33,663,000 after buying an additional 531,683 shares in the last quarter. 94.38% of the stock is owned by institutional investors.
Shares of Flex (NASDAQ:FLEX) traded up $0.02 during midday trading on Wednesday, hitting $17.84. 4,037,594 shares of the stock were exchanged, compared to its average volume of 4,680,000. The company has a current ratio of 1.22, a quick ratio of 0.72 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $9,420.00, a PE ratio of 17.84, a PEG ratio of 0.98 and a beta of 0.80. Flex has a 1 year low of $14.70 and a 1 year high of $19.71.
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Flex Company Profile
Flex Ltd, formerly Flextronics International Ltd. provides design, engineering, manufacturing, and supply chain services and solutions. The Company designs, builds, ships and services packaged consumer electronics and industrial products for original equipment manufacturers (OEMs). Its segments include High Reliability Solutions (HRS), Consumer Technologies Group (CTG), Industrial and Emerging Industries (IEI) and Communications & Enterprise Compute (CEC).
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