Flex (FLEX) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Share on StockTwits

Flex (NASDAQ:FLEX) issued its quarterly earnings data on Thursday, October 25th. The technology company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.01, MarketWatch Earnings reports. The business had revenue of $6.71 billion for the quarter, compared to analyst estimates of $6.81 billion. Flex had a return on equity of 9.83% and a net margin of 1.15%. Flex updated its Q3 2019 guidance to $0.29-0.33 EPS and its FY 2019 guidance to $1.05-1.15 EPS.

Shares of NASDAQ FLEX traded down $0.35 during midday trading on Friday, hitting $8.22. The stock had a trading volume of 14,836,079 shares, compared to its average volume of 11,993,838. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.73 and a current ratio of 1.23. Flex has a fifty-two week low of $6.74 and a fifty-two week high of $19.71. The stock has a market capitalization of $4.59 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 1.01 and a beta of 1.52.

A number of analysts have issued reports on FLEX shares. ValuEngine raised Flex from a “sell” rating to a “hold” rating in a report on Friday, November 2nd. Argus downgraded Flex from a “buy” rating to a “hold” rating in a research report on Tuesday, October 30th. Macquarie set a $9.00 target price on Flex and gave the stock a “hold” rating in a research report on Monday, October 29th. Needham & Company LLC downgraded Flex from a “buy” rating to a “hold” rating in a research report on Friday, October 26th. Finally, Zacks Investment Research upgraded Flex from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $17.94.

In related news, EVP David Scott Offer acquired 27,027 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The stock was acquired at an average cost of $7.48 per share, with a total value of $202,161.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is owned by insiders.

Flex announced that its board has approved a stock buyback plan on Tuesday, August 21st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to purchase up to 6.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

ILLEGAL ACTIVITY WARNING: This news story was reported by BBNS and is the property of of BBNS. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States and international trademark and copyright laws. The legal version of this news story can be viewed at https://baseballnewssource.com/2018/11/10/flex-flex-releases-quarterly-earnings-results-beats-estimates-by-0-01-eps/2887134.html.

About Flex

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.

Read More: What is the Rule of 72?

Earnings History for Flex (NASDAQ:FLEX)

Receive News & Ratings for Flex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flex and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.