Flex (NASDAQ:FLEX) Releases Q3 Earnings Guidance

by · The Cerbat Gem

Flex (NASDAQ:FLEX – Get Free Report) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.60-0.66 for the period, compared to the consensus estimate of $0.64. The company issued revenue guidance of $6.00-6.40 billion, compared to the consensus revenue estimate of $6.51 billion. Flex also updated its FY 2025 guidance to 2.390-2.510 EPS.

Analyst Ratings Changes

Several research firms recently commented on FLEX. Stifel Nicolaus boosted their price objective on shares of Flex from $32.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Craig Hallum boosted their price target on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday. The Goldman Sachs Group set a $39.00 price target on shares of Flex in a research report on Thursday, October 17th. JPMorgan Chase & Co. boosted their price target on shares of Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Finally, StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Tuesday. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $40.83.

Get Our Latest Report on Flex

Flex Stock Performance

FLEX traded up $0.81 on Friday, reaching $35.48. The company had a trading volume of 3,604,200 shares, compared to its average volume of 4,162,805. Flex has a fifty-two week low of $21.84 and a fifty-two week high of $36.98. The stock has a market cap of $14.09 billion, a P/E ratio of 15.34, a P/E/G ratio of 2.11 and a beta of 1.09. The company’s fifty day moving average is $32.76 and its 200 day moving average is $31.13. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.75 and a current ratio of 1.40.

Insiders Place Their Bets

In other Flex news, EVP David Scott Offer sold 10,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $31.99, for a total transaction of $319,900.00. Following the transaction, the executive vice president now owns 168,094 shares in the company, valued at $5,377,327.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP David Scott Offer sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $31.99, for a total transaction of $319,900.00. Following the completion of the sale, the executive vice president now owns 168,094 shares of the company’s stock, valued at approximately $5,377,327.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 240,018 shares of the company’s stock, valued at approximately $8,494,237.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,028 shares of company stock worth $933,511 in the last quarter. Corporate insiders own 0.82% of the company’s stock.

About Flex

(Get Free Report)

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.

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