Flex (NASDAQ:FLEX) Issues Q1 Earnings Guidance

Flex (NASDAQ:FLEX) updated its first quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.37-0.45 for the period, compared to the consensus EPS estimate of $0.55. The company issued revenue guidance of $5.60-6.20 billion, compared to the consensus revenue estimate of $6.26 billion. Flex also updated its FY 2025 guidance to 2.300-2.500 EPS.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Flex from $32.00 to $34.00 and gave the company an overweight rating in a research note on Thursday, April 11th. StockNews.com assumed coverage on Flex in a research note on Wednesday, March 6th. They set a hold rating for the company. The Goldman Sachs Group raised their price target on Flex from $29.00 to $37.00 and gave the company a buy rating in a research report on Monday, March 4th. Craig Hallum downgraded Flex from a buy rating to a hold rating and lowered their price target for the company from $28.00 to $27.00 in a research report on Thursday. Finally, Barclays raised their price target on Flex from $30.00 to $34.00 and gave the company an overweight rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $32.83.

Flex Price Performance

Shares of NASDAQ FLEX opened at $27.90 on Friday. Flex has a twelve month low of $19.85 and a twelve month high of $30.93. The firm has a market cap of $11.75 billion, a P/E ratio of 12.13, a PEG ratio of 1.71 and a beta of 1.18. The company has a 50 day moving average of $28.46 and a 200 day moving average of $26.84. The company has a quick ratio of 0.86, a current ratio of 1.59 and a debt-to-equity ratio of 0.53.

Flex (NASDAQ:FLEX) last announced its earnings results on Wednesday, January 31st. The technology company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.10. The business had revenue of $7.10 billion during the quarter, compared to analyst estimates of $6.73 billion. Flex had a net margin of 3.58% and a return on equity of 15.88%. As a group, research analysts expect that Flex will post 2.14 EPS for the current fiscal year.

Insider Transactions at Flex

In other Flex news, EVP David Scott Offer sold 75,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $27.52, for a total transaction of $2,064,000.00. Following the completion of the transaction, the executive vice president now owns 162,094 shares of the company’s stock, valued at approximately $4,460,826.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP David Scott Offer sold 75,000 shares of Flex stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $27.52, for a total value of $2,064,000.00. Following the completion of the transaction, the executive vice president now owns 162,094 shares in the company, valued at $4,460,826.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Rebecca Sidelinger sold 13,675 shares of Flex stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $27.99, for a total value of $382,763.25. Following the completion of the transaction, the insider now owns 161,913 shares of the company’s stock, valued at approximately $4,531,944.87. The disclosure for this sale can be found here. Insiders sold 141,943 shares of company stock worth $4,055,311 in the last three months. Corporate insiders own 0.56% of the company’s stock.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.