Flex (NASDAQ:FLEX) Issues FY25 Earnings Guidance

Flex (NASDAQ:FLEX) issued an update on its FY25 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.39-2.51 for the period, compared to the consensus estimate of $2.40. The company issued revenue guidance of $24.90-25.50 billion, compared to the consensus revenue estimate of $25.79 billion. Flex also updated its FY 2025 guidance to 2.390-2.510 EPS.

Flex Stock Performance

Shares of FLEX opened at $35.56 on Wednesday. The stock has a 50-day moving average of $32.61 and a 200-day moving average of $31.08. Flex has a one year low of $21.84 and a one year high of $36.06. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 0.75. The company has a market cap of $14.12 billion, a PE ratio of 15.55, a P/E/G ratio of 2.01 and a beta of 1.09.

Analyst Upgrades and Downgrades

Several analysts have recently commented on FLEX shares. KeyCorp assumed coverage on Flex in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective for the company. Craig Hallum raised Flex from a “hold” rating to a “buy” rating and increased their price target for the company from $27.00 to $39.00 in a research report on Thursday, July 25th. Stifel Nicolaus lifted their price objective on shares of Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Barclays increased their target price on shares of Flex from $34.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, The Goldman Sachs Group set a $39.00 price target on shares of Flex in a report on Thursday, October 17th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $39.17.

Insider Buying and Selling

In other news, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction on Monday, October 28th. The stock was sold at an average price of $35.39, for a total value of $284,110.92. Following the completion of the transaction, the insider now directly owns 240,018 shares in the company, valued at approximately $8,494,237.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 value of $284,110.92. Following the completion of the transaction, the insider now directly owns 240,018 shares in the company, valued at approximately $8,494,237.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Scott Offer sold 10,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 168,094 shares in the company, valued at $5,377,327.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,028 shares of company stock valued at $933,511. Company insiders own 0.82% 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.