In the last trading session, 5.35 million Flex Ltd. (NASDAQ:FLEX) shares changed hands as the company’s beta touched 1.59. With the company’s per share price at $18.56 changed hands at $0.05 or 0.27% during last session, the market valuation stood at $9.04B. FLEX’s last price was a discount, traded about -7.97% off its 52-week high of $20.04. The share price had its 52-week low at $10.24, which suggests the last value was 44.83% up since then. When we look at Flex Ltd.’s average trading volume, we note the 10-day average is 2.67 million shares, with the 3-month average coming to 2.97 million.
Analysts gave the Flex Ltd. (FLEX) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.80. If we narrow down to specifics, the data shows that 0 out of 11 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 2 recommended FLEX as a Hold, 8 felt it is a Buy and 0 rated the stock as Underweight. Flex Ltd.’s EPS for the current quarter is expected to be $0.4.
Flex Ltd. (NASDAQ:FLEX) trade information
Instantly FLEX was in green as seen at the end of in last trading. With action -2.52%, the performance over the past five days has been red. The jump to weekly highs of 19.23 on Tuesday, 09/14/21 added 0.27% to the stock’s daily price. The company’s shares are showing year-to-date upside of 3.23%, with the 5-day performance at -2.52% in the red. However, in the 30-day time frame, Flex Ltd. (NASDAQ:FLEX) is 1.92% up. Looking at the short shares, we see there were 9.58 million shares sold at short interest cover period of 2.4 days.
The consensus price target for the stock as assigned by Wall Street analysts is $23.63, meaning bulls need an upside of 21.46% from its current market value. According to analyst projections, FLEX’s forecast low is $21.00 with $31.00 as the target high. To hit the forecast high, the stock’s price needs a -67.03% plunge from its current level, while the stock would need to soar -13.15% for it to hit the projected low.
Flex Ltd. (FLEX) estimates and forecasts
Data shows that the Flex Ltd. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 2.43% over the past 6 months, a 15.29% in annual growth rate that is considerably lower than the industry average of 25.60%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Flex Ltd. will rise 11.10%, while the growth in revenue is estimated to hit -2.00% for the next quarter. Year-over-year growth is forecast to reach 7.90% up from the last financial year.
Consensus estimates given by 8 financial analysts project the company’s revenue in the current quarter to hit an average of $6.36 billion. 8 analysts are of the opinion that Flex Ltd.’s revenue for the quarter ending Dec 2021 will be $6.9 billion.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 9.00%. The 2021 estimates are for Flex Ltd. earnings to increase by 604.80%, but the outlook for the next 5-year period is at 15.95% per year.
Flex Ltd. is expected to release its next quarterly earnings report between October 27 and November 01.
Flex Ltd. (NASDAQ:FLEX)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.67% of Flex Ltd. shares while 102.25% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 102.94%. There are 102.25% institutions holding the Flex Ltd. stock share, with Primecap Management Company the top institutional holder. As of Dec 30, 2020, the company held 13.02% of the shares, roughly 65.02 million FLEX shares worth $1.17 billion.
Wellington Management Group, LLP holds the second largest percentage of outstanding shares, with 10.56% or 52.71 million shares worth $947.73 million as of Dec 30, 2020.
Among Mutual Funds, the top two as of Dec 30, 2020 were Vanguard Horizon Fund-Capital Opportunity Portfolio and Janus Henderson Enterprise Fund. With 18.41 million shares estimated at $331.0 million under it, the former controlled 3.69% of total outstanding shares. On the other hand, Janus Henderson Enterprise Fund held about 3.61% of the shares, roughly 18.02 million shares worth around $323.97 million.