Equities research analysts forecast that Flextronics International Ltd. (NASDAQ:FLEX) will post $6.49 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Flextronics International’s earnings. The lowest sales estimate is $6.47 billion and the highest is $6.51 billion. Flextronics International posted sales of $6.12 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 6%. The firm is scheduled to report its next quarterly earnings results on Thursday, January 25th.
According to Zacks, analysts expect that Flextronics International will report full year sales of $6.49 billion for the current financial year, with estimates ranging from $24.82 billion to $25.03 billion. For the next fiscal year, analysts forecast that the company will post sales of $25.85 billion per share, with estimates ranging from $25.56 billion to $26.18 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Flextronics International.
Flextronics International (NASDAQ:FLEX) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. Flextronics International had a return on equity of 22.71% and a net margin of 2.25%. The firm had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.09 billion. During the same quarter last year, the company posted $0.28 earnings per share. The business’s revenue was up 4.3% on a year-over-year basis.
A number of equities analysts recently issued reports on FLEX shares. Zacks Investment Research lowered Flextronics International from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. BidaskClub downgraded shares of Flextronics International from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 3rd. ValuEngine upgraded shares of Flextronics International from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Royal Bank Of Canada restated a “buy” rating and issued a $19.00 price objective on shares of Flextronics International in a research report on Friday, September 1st. Finally, Stifel Nicolaus raised their price objective on shares of Flextronics International from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $19.53.
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Institutional investors have recently modified their holdings of the stock. Captrust Financial Advisors acquired a new position in shares of Flextronics International during the 2nd quarter worth approximately $171,000. Airain ltd purchased a new stake in Flextronics International in the 2nd quarter worth approximately $203,000. Raymond James Trust N.A. grew its stake in Flextronics International by 2.3% in the 2nd quarter. Raymond James Trust N.A. now owns 13,483 shares of the technology company’s stock worth $220,000 after acquiring an additional 309 shares during the period. Woodmont Investment Counsel LLC purchased a new stake in Flextronics International in the 3rd quarter worth approximately $244,000. Finally, IFP Advisors Inc grew its stake in Flextronics International by 3.5% in the 2nd quarter. IFP Advisors Inc now owns 24,625 shares of the technology company’s stock worth $402,000 after acquiring an additional 832 shares during the period. Hedge funds and other institutional investors own 97.46% of the company’s stock.
Flextronics International (NASDAQ:FLEX) opened at $18.57 on Monday. The company has a current ratio of 1.23, a quick ratio of 0.70 and a debt-to-equity ratio of 1.01. Flextronics International has a twelve month low of $13.97 and a twelve month high of $18.74. The stock has a market capitalization of $9,813.72, a PE ratio of 16.15, a P/E/G ratio of 1.02 and a beta of 0.82.
Flextronics International declared that its Board of Directors has initiated a stock buyback program on Friday, August 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 65% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
About Flextronics International
Flex Ltd, formerly Flextronics International Ltd. provides design, engineering, manufacturing, and supply chain services and solutions. The Company designs, builds, ships and services packaged consumer electronics and industrial products for original equipment manufacturers (OEMs). Its segments include High Reliability Solutions (HRS), Consumer Technologies Group (CTG), Industrial and Emerging Industries (IEI) and Communications & Enterprise Compute (CEC).
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