Flex (NASDAQ:FLEX) Issues Q2 Earnings Guidance

Flex (NASDAQ:FLEX) updated its second quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.52-0.60 for the period, compared to the consensus EPS estimate of $0.55. The company issued revenue guidance of $6.2-6.8 billion, compared to the consensus revenue estimate of $6.27 billion. Flex also updated its FY 2025 guidance to 2.300-2.500 EPS.

Analysts Set New Price Targets

A number of brokerages recently commented on FLEX. Stifel Nicolaus increased their price target on shares of Flex from $32.00 to $37.00 and gave the company a buy rating in a report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of Flex from $34.00 to $40.00 and gave the stock an overweight rating in a research report on Tuesday. StockNews.com raised shares of Flex from a hold rating to a buy rating in a research report on Wednesday, June 26th. Barclays increased their price objective on shares of Flex from $34.00 to $39.00 and gave the stock an overweight rating in a research report on Thursday. Finally, Craig Hallum raised shares of Flex from a hold rating to a buy rating and increased their price objective for the stock from $27.00 to $39.00 in a research report on Thursday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of $38.40.

Flex Trading Down 0.7 %

Shares of NASDAQ:FLEX traded down $0.23 during trading on Thursday, reaching $31.53. 3,133,251 shares of the company were exchanged, compared to its average volume of 4,539,672. The firm has a market capitalization of $12.57 billion, a PE ratio of 13.49, a P/E/G ratio of 1.99 and a beta of 1.12. The business’s fifty day simple moving average is $31.05 and its 200-day simple moving average is $28.52. Flex has a 12-month low of $21.84 and a 12-month high of $34.12. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.52 and a quick ratio of 0.79.

Flex (NASDAQ:FLEX) last issued its earnings results on Wednesday, May 1st. The technology company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.10 billion. Flex had a net margin of 3.58% and a return on equity of 16.46%. On average, research analysts anticipate that Flex will post 2.06 EPS for the current year.

Insider Transactions at Flex

In other news, insider Kwang Hooi Tan sold 14,599 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $28.65, for a total transaction of $418,261.35. Following the transaction, the insider now directly owns 163,656 shares of the company’s stock, valued at $4,688,744.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Revathi Advaithi sold 37,170 shares of Flex stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $31.30, for a total transaction of $1,163,421.00. Following the transaction, the chief executive officer now directly owns 2,057,473 shares of the company’s stock, valued at $64,398,904.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kwang Hooi Tan sold 14,599 shares of Flex stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $28.65, for a total transaction of $418,261.35. Following the transaction, the insider now directly owns 163,656 shares in the company, valued at $4,688,744.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 804,542 shares of company stock valued at $25,147,972. 0.82% of the stock is currently owned by company insiders.

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.