Flex (NASDAQ:FLEX) Releases Q2 2021 After-Hours Earnings Guidance
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.
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.
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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