Flex (FLEX) Set to Announce Quarterly Earnings on Wednesday

Flex (NASDAQ:FLEX) is set to announce its earnings results before the market opens on Wednesday, May 1st. Analysts expect the company to announce 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 posted its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.10. The business had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.73 billion. Flex had a return on equity of 16.24% and a net margin of 2.56%. On average, analysts expect Flex to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Flex Price Performance

Shares of FLEX stock opened at $29.21 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.59 and a debt-to-equity ratio of 0.53. Flex has a 12 month low of $19.85 and a 12 month high of $30.93. The firm has a market cap of $12.30 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 1.81 and a beta of 1.20. The stock has a 50-day moving average price of $28.48 and a 200 day moving average price of $26.80.

Analysts Set New Price Targets

FLEX has been the subject of a number of recent research reports. StockNews.com initiated coverage on shares of Flex in a research note on Wednesday, March 6th. They set a “hold” rating for the company. JPMorgan Chase & Co. upped their price objective on Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, The Goldman Sachs Group increased their target price on Flex from $29.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, March 4th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Flex currently has a consensus rating of “Moderate Buy” and an average price target of $34.20.

Insiders Place Their Bets

In related news, CAO Daniel Wendler sold 1,860 shares of the company’s stock in a transaction on 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 approximately $830,009.70. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Daniel Wendler sold 1,860 shares of Flex stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $28.89, for a total transaction of $53,735.40. Following the transaction, the chief accounting officer now 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. Also, EVP David Scott Offer sold 75,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $27.52, for a total value of $2,064,000.00. Following the sale, the executive vice president now directly owns 162,094 shares of the company’s stock, valued at $4,460,826.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 141,943 shares of company stock worth $4,055,311. Company insiders own 0.56% of the company’s stock.

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.