In today’s recent session, 3.67 million shares of the Flex Ltd (NASDAQ:FLEX) have been traded, and its beta is 1.09. Most recently the company’s share price was $39.81, and it changed around $2.48 or 6.64% from the last close, which brings the market valuation of the company to $15.44B. FLEX at last check was trading at a discount to its 52-week high of $40.30, offering almost -1.23% off that amount. The share price’s 52-week low was $18.15, which indicates that the recent value has risen by an impressive 54.41% since then. We note from Flex Ltd’s average daily trading volume that its 10-day average is 2.69 million shares, with the 3-month average coming to 3.35 million.
Flex Ltd stock received a consensus recommendation rating of Buy, based on a mean score of 1.42. If we narrow it down even further, the data shows that 0 out of 14 analysts rate the stock as a Sell; another 6 rate it as Overweight. Among the rest, 2 recommended FLEX as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Flex Ltd is expected to report earnings per share of 0.63 for the current quarter.
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Flex Ltd (NASDAQ:FLEX) trade information
Instantly FLEX has been showing a green trend so far today with a performance of 6.64% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 40.35 on recent trading dayincreased the stock’s daily price by 1.34%. The company’s shares are currently up 79.67% year-to-date, but still up 5.15% over the last five days. On the other hand, Flex Ltd (NASDAQ:FLEX) is 16.20% up in the 30-day period. We can see from the shorts that 9.59 million shares have been sold at a short interest cover period of 3.85 day(s).
The consensus price target as assigned by Wall Street analysts is $40, which translates to bulls needing to increase their stock price by 0.47% from its current value. Analyst projections state that FLEX is forecast to be at a low of $24 and a high of $45.
Flex Ltd (FLEX) estimates and forecasts
Flex Ltd share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 26.90 percent over the past six months and at a 12.56% annual growth rate that is well above the industry average of 4.20%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -10.97% in revenue this quarter, and will report an increase of 15.87% in the next quarter. The year-over-year growth rate is expected to be -4.47%, down from the previous year.
Consensus estimates provided by 7 financial analysts predict the company will bring in an average of 6.2B in revenue for the current quarter. 7 analysts expect Flex Ltd to make 6.16B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 7.1B and 6.17B respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -12.69%. Forecasts for the next quarter put sales growth at -0.17%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 67.12%. Flex Ltd earnings are expected to increase by 13.95% in 2024, but the outlook is positive 13.68% per year for the next five years.
FLEX Dividends
Flex Ltd’s next quarterly earnings report is expected to be released in December. The annual dividend yield of the stock is 0.00 percent and its annual dividend per share was 0.00. It is important to note, however, that the 0.00% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
Flex Ltd (NASDAQ:FLEX)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.68% of Flex Ltd shares, and 103.13% of them are in the hands of institutional investors. The stock currently has a share float of 103.84%. Flex Ltd stock is held by 685.0 institutions, with PRIMECAP MANAGEMENT CO/CA/ being the largest institutional investor. By 2024-06-30, it held 10.1807% of the shares, which is about 44.29 million shares worth $1.31 billion.
FMR LLC, with 9.2306% or 40.15 million shares worth $1.18 billion as of 2024-06-30, holds the second largest percentage of outstanding shares.
Janus Henderson Enterprise Fund and Vanguard Horizon Fund-Capital Opportunity Fund were the top two Mutual Funds as of Sep 30, 2024. The former held 16.05 shares worth $644.84 million, making up 4.14% of all outstanding shares. On the other hand, Vanguard Horizon Fund-Capital Opportunity Fund held roughly 15.07 shares worth around $605.39 million, which represents about 3.89% of the total shares outstanding.
