Flex (NASDAQ:FLEX) issued an update on its FY 2020 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.20-1.30 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.22. Flex also updated its Q2 guidance to $0.29-0.33 EPS.

FLEX stock traded up $1.32 during midday trading on Friday, reaching $11.26. The company’s stock had a trading volume of 14,480,113 shares, compared to its average volume of 4,566,335. The company has a quick ratio of 0.71, a current ratio of 1.20 and a debt-to-equity ratio of 0.81. The company’s fifty day moving average price is $9.64. Flex has a 1 year low of $6.74 and a 1 year high of $15.38. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 62.56, a price-to-earnings-growth ratio of 0.73 and a beta of 1.80.

Flex (NASDAQ:FLEX) last posted its quarterly earnings results on Thursday, July 25th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.11). Flex had a return on equity of 0.72% and a net margin of 0.09%. The firm had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $6.25 billion. During the same period in the previous year, the company posted $0.24 EPS. Flex’s quarterly revenue was down 3.5% compared to the same quarter last year. On average, equities research analysts predict that Flex will post 0.98 earnings per share for the current fiscal year.

A number of brokerages recently weighed in on FLEX. Zacks Investment Research downgraded GENEL ENERGY PL/ADR from a buy rating to a hold rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. downgraded Sampo Oyj from an overweight rating to a neutral rating in a research report on Wednesday, May 29th. BidaskClub downgraded Walgreens Boots Alliance from a sell rating to a strong sell rating in a research report on Monday, June 24th. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Finally, Goldman Sachs Group raised Exelon from a neutral rating to a buy rating and raised their price objective for the company from $48.00 to $52.00 in a research report on Thursday, June 6th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $10.67.

In other Flex news, insider David P. Bennett sold 2,825 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $9.60, for a total value of $27,120.00. Following the completion of the sale, the insider now directly owns 822,592 shares in the company, valued at $7,896,883.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Douglas Britt sold 10,313 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $9.61, for a total value of $99,107.93. Following the completion of the sale, the president now owns 681,494 shares of the company’s stock, valued at $6,549,157.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 157,902 shares of company stock worth $1,487,783. 0.42% of the stock is owned by corporate insiders.

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.

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