$6.43 Billion in Sales Expected for Flex Ltd (FLEX) This Quarter

Wall Street brokerages predict that Flex Ltd (NASDAQ:FLEX) will post sales of $6.43 billion for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Flex’s earnings, with the highest sales estimate coming in at $6.48 billion and the lowest estimate coming in at $6.39 billion. Flex posted sales of $6.41 billion during the same quarter last year, which would indicate a positive year over year growth rate of 0.3%. The business is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, April 30th.

According to Zacks, analysts expect that Flex will report full-year sales of $26.51 billion for the current year, with estimates ranging from $26.47 billion to $26.55 billion. For the next year, analysts expect that the firm will report sales of $27.04 billion, with estimates ranging from $26.81 billion to $27.19 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Flex.

Flex (NASDAQ:FLEX) last issued its earnings results on Wednesday, January 30th. The technology company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. Flex had a return on equity of 4.47% and a net margin of 0.52%. The company had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.77 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. Flex’s revenue for the quarter was up 2.9% on a year-over-year basis.

A number of equities analysts have recently weighed in on the company. Zacks Investment Research raised Flex from a “strong sell” rating to a “hold” rating in a research report on Monday, December 31st. BidaskClub raised Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 22nd. ValuEngine raised Flex from a “hold” rating to a “buy” rating in a research report on Thursday, January 31st. Finally, JPMorgan Chase & Co. lowered Flex from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $14.00 to $12.00 in a research report on Wednesday, January 2nd. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $15.17.

Shares of NASDAQ:FLEX opened at $11.26 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.94. Flex has a twelve month low of $6.74 and a twelve month high of $17.50. The company has a market cap of $5.88 billion, a PE ratio of 14.08, a PEG ratio of 0.94 and a beta of 1.78.

A number of institutional investors have recently made changes to their positions in FLEX. Whittier Trust Co. of Nevada Inc. grew its holdings in Flex by 119.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 3,825 shares of the technology company’s stock worth $29,000 after buying an additional 2,084 shares in the last quarter. Fiera Capital Corp bought a new position in Flex in the 4th quarter valued at $80,000. FUKOKU MUTUAL LIFE INSURANCE Co grew its stake in Flex by 83.3% in the 4th quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 11,000 shares of the technology company’s stock valued at $84,000 after purchasing an additional 5,000 shares during the period. Wetherby Asset Management Inc. bought a new position in Flex in the 4th quarter valued at $90,000. Finally, Blueshift Asset Management LLC bought a new position in Flex in the 4th quarter valued at $96,000. Institutional investors and hedge funds own 93.90% of the company’s stock.

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.

Read More: How is inflation measured?

Get a free copy of the Zacks research report on Flex (FLEX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.