Flex (NASDAQ:FLEX) Releases Q1 Earnings Guidance

Flex (NASDAQ:FLEX) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.37-0.45 for the period, compared to the consensus earnings per share estimate of $0.55. The company issued revenue guidance of $5.60-6.20 billion, compared to the consensus revenue estimate of $6.26 billion. Flex also updated its FY 2025 guidance to 2.300-2.500 EPS.

Flex Price Performance

Shares of NASDAQ:FLEX opened at $27.90 on Friday. The business’s 50 day moving average is $28.46 and its 200-day moving average is $26.84. The company has a current ratio of 1.59, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $11.75 billion, a PE ratio of 12.13, a PEG ratio of 1.71 and a beta of 1.18. Flex has a 1-year low of $19.85 and a 1-year high of $30.93.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.10. The company had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $6.73 billion. Flex had a net margin of 3.58% and a return on equity of 15.88%. Sell-side analysts predict that Flex will post 2.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FLEX has been the topic of several recent analyst reports. Craig Hallum lowered Flex from a buy rating to a hold rating and decreased their price target for the company from $28.00 to $27.00 in a research note on Thursday. JPMorgan Chase & Co. upped their price objective on shares of Flex from $32.00 to $34.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. Barclays boosted their price objective on Flex from $30.00 to $34.00 and gave the stock an overweight rating in a research note on Thursday. The Goldman Sachs Group lifted their price target on Flex from $29.00 to $37.00 and gave the company a buy rating in a report on Monday, March 4th. Finally, StockNews.com initiated coverage on shares of Flex in a research note on Wednesday, March 6th. They issued a hold rating for the company. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Flex has a consensus rating of Moderate Buy and an average price target of $32.83.

Insider Buying and Selling

In related news, insider Rebecca Sidelinger sold 13,675 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $27.99, for a total value of $382,763.25. Following the completion of the sale, the insider now owns 161,913 shares in the company, valued at $4,531,944.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Flex news, insider Rebecca Sidelinger sold 13,675 shares of Flex stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $27.99, for a total transaction of $382,763.25. Following the transaction, the insider now directly owns 161,913 shares in the company, valued at $4,531,944.87. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP David Scott Offer sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $27.52, for a total transaction of $2,064,000.00. Following the sale, the executive vice president now owns 162,094 shares in the company, valued at $4,460,826.88. The disclosure for this sale can be found here. Insiders sold a total of 141,943 shares of company stock valued at $4,055,311 over the last ninety days. Insiders own 0.56% of the company’s stock.

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.