Flex (NASDAQ:FLEX) Updates Q1 Earnings Guidance

Flex (NASDAQ:FLEX) updated its first quarter earnings guidance on Wednesday. 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.

Analysts Set New Price Targets

A number of brokerages have recently commented on FLEX. Barclays lifted their price target on shares of Flex from $30.00 to $34.00 and gave the stock an overweight rating in a report on Thursday. The Goldman Sachs Group lifted their price target on shares of Flex from $29.00 to $37.00 and gave the stock a buy rating in a report on Monday, March 4th. Craig Hallum downgraded shares of Flex from a buy rating to a hold rating and lowered their target price for the company from $28.00 to $27.00 in a report on Thursday. StockNews.com began coverage on shares of Flex in a report on Wednesday, March 6th. They issued a hold rating for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Flex from $32.00 to $34.00 and gave the company an overweight rating in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $32.83.

Flex Price Performance

Flex stock opened at $27.90 on Friday. Flex has a 1 year low of $19.85 and a 1 year high of $30.93. The firm has a 50 day moving average price of $28.46 and a 200 day moving average price of $26.84. The company has a market cap of $11.75 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 1.71 and a beta of 1.18. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.86 and a current ratio of 1.59.

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

Insiders Place Their Bets

In other Flex news, EVP David Scott Offer sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $27.52, for a total transaction of $2,064,000.00. Following the completion of the sale, the executive vice president now directly owns 162,094 shares in the company, valued at $4,460,826.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Rebecca Sidelinger sold 13,675 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were 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 of the company’s stock, valued at $4,531,944.87. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David Scott Offer sold 75,000 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly 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 worth $4,055,311 over the last ninety days. 0.56% of the stock is 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.