Flex (NASDAQ:FLEX) Issues Q3 Earnings Guidance

by · The Markets Daily

Flex (NASDAQ:FLEX – Get Free Report) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.60-0.66 for the period, compared to the consensus earnings per share 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 equities analysts have recently weighed in on the stock. Barclays upped their price objective on shares of Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday. Craig Hallum increased their price target on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday. The Goldman Sachs Group set a $39.00 price objective on Flex in a report on Thursday, October 17th. KeyCorp started coverage on Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 target price on the stock. Finally, StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a report on Tuesday. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $40.83.

Check Out Our Latest Stock Report on Flex

Flex Stock Performance

Flex stock traded up $0.81 during trading on Friday, hitting $35.48. The stock had a trading volume of 3,604,200 shares, compared to its average volume of 4,162,805. The stock’s 50 day moving average is $32.76 and its two-hundred day moving average is $31.13. Flex has a 1 year low of $21.84 and a 1 year high of $36.98. The stock has a market cap of $14.09 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 2.11 and a beta of 1.09. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.53.

Insider Buying and Selling

In other news, 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 value of $284,110.92. Following the completion of the transaction, the insider now directly owns 240,018 shares in the company, valued at approximately $8,494,237.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were 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 of the company’s stock, valued at approximately $8,494,237.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Scott Offer sold 10,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was 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 in the company, valued at $5,377,327.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,028 shares of company stock valued at $933,511. Company 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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