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Flex (FLEX) Gains As Market Dips: What You Should Know
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Flex (FLEX - Free Report) closed at $21.61 in the latest trading session, marking a +0.14% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.17%. Meanwhile, the Dow lost 1.02%, and the Nasdaq, a tech-heavy index, lost 2.45%.
Heading into today, shares of the electronics designer and manufacturer had gained 0.09% over the past month, outpacing the Computer and Technology sector's loss of 8.27% and the S&P 500's loss of 5.25% in that time.
Investors will be hoping for strength from Flex as it approaches its next earnings release. On that day, Flex is projected to report earnings of $0.60 per share, which would represent year-over-year growth of 20%. Our most recent consensus estimate is calling for quarterly revenue of $7.48 billion, up 13.01% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.28 per share and revenue of $29.56 billion, which would represent changes of +16.33% and +13.52%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Flex. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Flex currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Flex currently has a Forward P/E ratio of 9.46. This represents a discount compared to its industry's average Forward P/E of 15.42.
Meanwhile, FLEX's PEG ratio is currently 0.74. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Electronics - Miscellaneous Products was holding an average PEG ratio of 2 at yesterday's closing price.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 149, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Flex (FLEX) Gains As Market Dips: What You Should Know
Flex (FLEX - Free Report) closed at $21.61 in the latest trading session, marking a +0.14% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.17%. Meanwhile, the Dow lost 1.02%, and the Nasdaq, a tech-heavy index, lost 2.45%.
Heading into today, shares of the electronics designer and manufacturer had gained 0.09% over the past month, outpacing the Computer and Technology sector's loss of 8.27% and the S&P 500's loss of 5.25% in that time.
Investors will be hoping for strength from Flex as it approaches its next earnings release. On that day, Flex is projected to report earnings of $0.60 per share, which would represent year-over-year growth of 20%. Our most recent consensus estimate is calling for quarterly revenue of $7.48 billion, up 13.01% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.28 per share and revenue of $29.56 billion, which would represent changes of +16.33% and +13.52%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Flex. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Flex currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Flex currently has a Forward P/E ratio of 9.46. This represents a discount compared to its industry's average Forward P/E of 15.42.
Meanwhile, FLEX's PEG ratio is currently 0.74. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Electronics - Miscellaneous Products was holding an average PEG ratio of 2 at yesterday's closing price.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 149, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.