Flex (FLEX) Expected to Announce Quarterly Earnings on Wednesday

Flex (NASDAQ:FLEX) will likely be posting its quarterly earnings results before the market opens on Wednesday, January 29th. Analysts expect Flex to post earnings of $0.63 per share and revenue of $6,204,635.76 billion for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Flex Trading Up 3.6 %

NASDAQ:FLEX opened at $44.27 on Wednesday. The stock has a market cap of $17.17 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. Flex has a fifty-two week low of $22.57 and a fifty-two week high of $44.66. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85. The stock’s 50-day moving average is $39.27 and its two-hundred day moving average is $34.71.

Insider Buying and Selling at Flex

In related news, Director Charles K. Stevens III sold 13,157 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total transaction of $509,044.33. Following the completion of the sale, the director now directly owns 55,713 shares of the company’s stock, valued at approximately $2,155,535.97. This represents a 19.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction on Monday, October 28th. The stock was sold at an average price of $35.39, for a total transaction of $284,110.92. Following the completion of the transaction, the insider now owns 240,018 shares in the company, valued at $8,494,237.02. This trade represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on FLEX. KeyCorp assumed coverage on shares of Flex in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective on the stock. The Goldman Sachs Group set a $39.00 price target on shares of Flex in a research note on Thursday, October 17th. Barclays lifted their price objective on Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Stifel Nicolaus upped their target price on Flex from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Thursday, January 16th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Flex has a consensus rating of “Buy” and an average target price of $42.67.

About Flex

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.