$0.30 Earnings Per Share Expected for Flex Ltd (FLEX) This Quarter
Equities analysts predict that Flex Ltd (NASDAQ:FLEX) will report earnings of $0.30 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Flex’s earnings, with the lowest EPS estimate coming in at $0.29 and the highest estimate coming in at $0.31. Flex reported earnings per share of $0.31 during the same quarter last year, which suggests a negative year over year growth rate of 3.2%. The firm is expected to announce its next earnings results after the market closes on Wednesday, January 30th.
On average, analysts expect that Flex will report full-year earnings of $1.09 per share for the current fiscal year, with EPS estimates ranging from $1.08 to $1.10. For the next year, analysts anticipate that the firm will report earnings of $1.27 per share, with EPS estimates ranging from $1.23 to $1.30. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Flex.
Flex (NASDAQ:FLEX) last announced its earnings results on Thursday, October 25th. The technology company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. Flex had a return on equity of 9.83% and a net margin of 1.15%. The firm had revenue of $6.71 billion during the quarter, compared to the consensus estimate of $6.81 billion.
In related news, Director Marc A. Onetto bought 11,500 shares of the company’s stock in a transaction dated Tuesday, December 4th. The stock was acquired at an average cost of $8.49 per share, with a total value of $97,635.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP David Scott Offer bought 27,027 shares of the company’s stock in a transaction dated Tuesday, October 30th. The stock was bought at an average cost of $7.48 per share, with a total value of $202,161.96. The disclosure for this purchase can be found here. Corporate insiders own 0.88% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Bank of Montreal Can raised its holdings in shares of Flex by 116.5% in the 3rd quarter. Bank of Montreal Can now owns 12,696 shares of the technology company’s stock worth $167,000 after buying an additional 6,831 shares in the last quarter. Bank of Hawaii acquired a new stake in Flex during the 3rd quarter valued at $170,000. HRT Financial LLC acquired a new stake in Flex during the 3rd quarter valued at $184,000. Engineers Gate Manager LP acquired a new stake in Flex during the 3rd quarter valued at $203,000. Finally, Signition LP acquired a new stake in Flex during the 3rd quarter valued at $219,000. 92.74% of the stock is owned by institutional investors and hedge funds.
NASDAQ:FLEX traded up $0.06 during mid-day trading on Friday, hitting $8.04. 6,334,330 shares of the company’s stock traded hands, compared to its average volume of 7,997,800. Flex has a 12 month low of $6.74 and a 12 month high of $19.71. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 10.05, a PEG ratio of 0.94 and a beta of 1.55. The company has a quick ratio of 0.69, a current ratio of 1.23 and a debt-to-equity ratio of 1.07.
Flex Company Profile
Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.
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