Wall Street analysts forecast that Flex (FLEX) will report quarterly earnings of $0.69 per share in its upcoming release, pointing to a year-over-year increase of 21.1%. It is anticipated that revenues will amount to $6.23 billion, exhibiting an increase of 1% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has been revised 2.2% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
With that in mind, let's delve into the average projections of some Flex metrics that are commonly tracked and projected by analysts on Wall Street.
The combined assessment of analysts suggests that 'Net Sales- Flex Reliability Solutions' will likely reach $2.79 billion. The estimate points to a change of -4.6% from the year-ago quarter.
It is projected by analysts that the 'Net Sales- Flex Agility Solutions' will reach $3.45 billion. The estimate suggests a change of +6.5% year over year.
Based on the collective assessment of analysts, 'Segment income- Flex Reliability Solutions' should arrive at $180.03 million. The estimate compares to the year-ago value of $171 million.
Analysts expect 'Segment income- Flex Agility Solutions' to come in at $208.22 million. Compared to the current estimate, the company reported $181 million in the same quarter of the previous year.
View all Key Company Metrics for Flex here>>>
Over the past month, shares of Flex have returned +37.7% versus the Zacks S&P 500 composite's +0.4% change. Currently, FLEX carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Flex Ltd. (FLEX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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