Flex (NASDAQ:FLEX) Issues Q3 Earnings Guidance

Flex (NASDAQ:FLEX) 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.

Flex Trading Up 2.3 %

NASDAQ:FLEX opened at $35.48 on Friday. The company’s 50 day moving average price is $32.81 and its 200-day moving average price is $31.19. Flex has a 52 week low of $21.84 and a 52 week high of $36.98. The stock has a market cap of $14.09 billion, a price-to-earnings ratio of 15.70, a PEG 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.

Wall Street Analysts Forecast Growth

A number of analysts have commented on FLEX shares. The Goldman Sachs Group set a $39.00 target price on shares of Flex in a report on Thursday, October 17th. Stifel Nicolaus upped their price objective on shares of Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Craig Hallum lifted their price objective on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays raised their target price on shares of Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, KeyCorp started coverage on Flex in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $40.83.

Insider Buying and Selling at Flex

In other news, EVP David Scott Offer sold 10,000 shares of Flex stock in a transaction 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 directly owns 168,094 shares in the company, valued at approximately $5,377,327.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the firm’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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP David Scott Offer sold 10,000 shares of the stock in a transaction 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,028 shares of company stock worth $933,511. 0.82% of the stock is owned by corporate 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.