Flex (FLEX) Scheduled to Post Quarterly Earnings on Wednesday

Flex (NASDAQ:FLEXGet Rating) is scheduled to announce its earnings results after the market closes on Wednesday, January 25th. Analysts expect the company to announce earnings of $0.60 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Flex (NASDAQ:FLEXGet Rating) last announced its quarterly earnings data on Wednesday, October 26th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.09. Flex had a return on equity of 20.33% and a net margin of 2.85%. The firm had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.20 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 0.5 %

NASDAQ FLEX traded up $0.12 on Tuesday, hitting $24.54. 6,630,821 shares of the stock traded hands, compared to its average volume of 5,735,473. The stock has a 50-day moving average of $21.98 and a 200 day moving average of $19.16. Flex has a twelve month low of $13.63 and a twelve month high of $25.12. The company has a market capitalization of $11.11 billion, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 1.07 and a beta of 1.45. The company has a current ratio of 1.29, a quick ratio of 0.65 and a debt-to-equity ratio of 0.74.

Analysts Set New Price Targets

Separately, StockNews.com cut Flex from a “buy” rating to a “hold” rating in a research report on Wednesday, December 28th.

Insider Transactions at Flex

In related news, Director Charles K. Stevens III sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $21.69, for a total value of $433,800.00. Following the sale, the director now directly owns 52,380 shares in the company, valued at approximately $1,136,122.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Michael P. Hartung sold 44,898 shares of the firm’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $19.66, for a total value of $882,694.68. Following the sale, the insider now directly owns 143,105 shares in the company, valued at approximately $2,813,444.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles K. Stevens III sold 20,000 shares of the stock in a transaction on Monday, December 5th. The shares were sold at an average price of $21.69, for a total value of $433,800.00. Following the transaction, the director now directly owns 52,380 shares of the company’s stock, valued at $1,136,122.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 84,730 shares of company stock worth $1,734,074. 0.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Flex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLEX. Invesco Ltd. boosted its stake in Flex by 119.3% during the 1st quarter. Invesco Ltd. now owns 10,551,440 shares of the technology company’s stock valued at $195,729,000 after purchasing an additional 5,741,044 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Flex by 19.0% during the 3rd quarter. BlackRock Inc. now owns 6,762,532 shares of the technology company’s stock worth $112,664,000 after acquiring an additional 1,077,354 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Flex by 44.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 3,075,064 shares of the technology company’s stock worth $44,495,000 after acquiring an additional 941,726 shares in the last quarter. LSV Asset Management boosted its stake in shares of Flex by 1,428.8% during the 1st quarter. LSV Asset Management now owns 435,700 shares of the technology company’s stock worth $8,082,000 after acquiring an additional 407,200 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new stake in shares of Flex during the 3rd quarter worth $5,115,000. 95.44% of the stock is owned by institutional investors.

Flex Company Profile

(Get Rating)

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The company provides cross-industry technologies, including human-machine interface, internet of things platforms, power, sensor fusion, and smart audio.

See Also

Earnings History for Flex (NASDAQ:FLEX)

Receive News & Ratings for Flex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flex and related companies with MarketBeat.com's FREE daily email newsletter.