Flex (NASDAQ:FLEX) updated its second quarter 2021
After-Hours earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.25-0.31 for the period, compared to the Thomson Reuters consensus estimate of $0.24. The company issued revenue guidance of $5.4-5.7 billion, compared to the consensus revenue estimate of $5.36 billion.Flex also updated its Q2 guidance to $0.25-0.31 EPS.

Several equities research analysts recently issued reports on the stock. BidaskClub upgraded shares of Flex from a sell rating to a hold rating in a report on Thursday, July 16th. Cfra decreased their price target on shares of Flex from $15.00 to $12.00 and set a hold rating on the stock in a research report on Monday, May 11th. Royal Bank of Canada reiterated a hold rating and issued a $9.00 price target on shares of Flex in a research report on Wednesday, May 6th. Finally, Citigroup increased their price target on shares of Flex from $13.00 to $15.00 and gave the stock a buy rating in a research report on Friday. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Flex currently has a consensus rating of Hold and a consensus target price of $11.75.

Shares of FLEX stock opened at $11.49 on Friday. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 60.47, a PEG ratio of 1.21 and a beta of 1.78. Flex has a one year low of $5.36 and a one year high of $14.00. The company’s fifty day moving average price is $10.42 and its 200-day moving average price is $10.45. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.26 and a quick ratio of 0.74.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Thursday, July 30th. The technology company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.06. The firm had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.01 billion. Flex had a net margin of 0.41% and a return on equity of 3.32%. Equities research analysts expect that Flex will post 0.87 earnings per share for the current fiscal year.

In other Flex news, CAO David P. Bennett sold 2,647 shares of Flex stock in a transaction on Friday, June 12th. The shares were sold at an average price of $10.50, for a total value of $27,793.50. Following the sale, the chief accounting officer now directly owns 173,176 shares in the company, valued at approximately $1,818,348. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO David P. Bennett sold 4,954 shares of Flex stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $10.68, for a total transaction of $52,908.72. Following the completion of the sale, the chief accounting officer now owns 173,176 shares in the company, valued at $1,849,519.68. The disclosure for this sale can be found here. Insiders have sold a total of 209,392 shares of company stock worth $2,197,043 over the last 90 days. Insiders own 0.56% of the company’s stock.

About Flex

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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