Somewhat Positive Media Coverage Somewhat Unlikely to Impact Flextronics International (FLEX) Share Price
News stories about Flextronics International (NASDAQ:FLEX) have been trending somewhat positive on Friday, Accern Sentiment reports. The research group identifies negative and positive press coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Flextronics International earned a daily sentiment score of 0.04 on Accern’s scale. Accern also assigned media headlines about the technology company an impact score of 45.9389352853768 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Here are some of the news stories that may have impacted Accern Sentiment Analysis’s analysis:
- IHS Markit Score downgrades Flex Ltd to 61 out of 100, ranking positively in only two out of four IHS Markit categories. (finance.yahoo.com)
- Insiders are Gradually Selling Kimberly-Clark Corporation (NYSE:KMB) (elcumanes.com)
- For $8,500, Does This 2008 Ford Expedition Limited Bring The Funk? (jalopnik.com)
- Sound Shore Management Inc /ct/ Modifies Its Ownership in Flex Ltd. – Ordinary Shares (FLEX) Stock Last Quarter (highlightpress.com)
- BRIEF-Westjet Airlines Ltd announceS changes to its flex fare (reuters.com)
Several equities research analysts recently weighed in on FLEX shares. Craig Hallum raised Flextronics International from a “hold” rating to a “buy” rating in a report on Friday, May 12th. Zacks Investment Research lowered Flextronics International from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Macquarie started coverage on Flextronics International in a report on Thursday, June 22nd. They issued a “neutral” rating for the company. BidaskClub lowered Flextronics International from a “sell” rating to a “strong sell” rating in a report on Thursday, August 3rd. Finally, Bank of America Corporation reissued a “buy” rating and issued a $19.50 price objective (up previously from $17.50) on shares of Flextronics International in a report on Wednesday, May 17th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $17.75.
Shares of Flextronics International (FLEX) traded down 0.38% on Friday, reaching $15.69. The company’s stock had a trading volume of 2,785,125 shares. The company’s 50-day moving average is $16.46 and its 200 day moving average is $16.38. Flextronics International has a 12-month low of $12.41 and a 12-month high of $17.76. The company has a market capitalization of $8.35 billion, a price-to-earnings ratio of 24.94 and a beta of 0.79.
Flextronics International (NASDAQ:FLEX) last issued its quarterly earnings results on Thursday, July 27th. The technology company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Flextronics International had a return on equity of 20.46% and a net margin of 1.41%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.27 earnings per share. Equities analysts anticipate that Flextronics International will post $1.09 earnings per share for the current fiscal year.
In related news, CFO Christopher Collier sold 17,875 shares of the stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $16.75, for a total transaction of $299,406.25. Following the completion of the sale, the chief financial officer now owns 700,531 shares in the company, valued at $11,733,894.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David P. Bennett sold 6,250 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $17.02, for a total value of $106,375.00. Following the sale, the insider now owns 54,299 shares of the company’s stock, valued at approximately $924,168.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,133,609 shares of company stock valued at $18,584,817. Company insiders own 0.83% of the company’s stock.
About Flextronics International
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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