Stock to Watch for Earnings: Flex Ltd. (NASDAQ:FLEX) declared Third Quarter Fiscal 2021 Results And Is Reviewing Alternatives For NEXTracker

Shares of Flex Ltd. (NASDAQ:FLEX) jumped 6.76% of the stock market on 01-28-2k19 (Thursday) to reach at $18.47 during previous trading session. The company has experienced volume of 11,869,648 shares while on average the company has a capacity of trading 4.89M share. Total volume is the number of shares or deals that point towards the overall activity of a security or market for a given period.

Flex (NASDAQ: FLEX) announced results for its third quarter ended December 31, 2020.

Third Quarter Fiscal Year 2021 Highlights:

  • Net Sales: $6.7 billion
  • GAAP Income Before Income Taxes: $233 million
  • Adjusted Operating Income: $311 million
  • GAAP Net Income: $208 million
  • Adjusted Net Income: $251 million
  • GAAP Earnings Per Share: $0.41
  • Adjusted Earnings Per Share: $0.49

An explanation and reconciliation of non-GAAP financial measures to GAAP financial measures is presented in Schedules II and V attached to this press release.

“Flex’s strong third quarter performance exceeded our prior expectations, as robust demand across our portfolio drove solid revenue growth. Furthermore, our operational focus and disciplined execution delivered record adjusted operating margin and EPS,” said Revathi Advaithi, Chief Executive Officer of Flex. “These results validate our ongoing strategy to drive margin-accretive growth, manage business mix, improve profitability, and generate free cash flow.”

Other Developments

The Company is actively pursuing alternatives for our NEXTracker business. The Company is considering options that may include, among others, a full or partial separation of the business through an initial public offering, sale, spin-off, or other transaction.

Fourth Quarter Fiscal 2021 Guidance

  • Revenue: $5.6 billion to $6.0 billion
  • GAAP Income Before Income Taxes: $145 million to $185 million
  • Adjusted Operating Income: $225 million to $265 million
  • GAAP EPS: $0.24 to $0.30 which includes $0.08 for stock-based compensation expense and net intangible amortization
  • Adjusted EPS: $0.32 to $0.38

Flex Ltd. (NASDAQ:FLEX) holds the market capitalization of $9.18B along with 501.00M outstanding shares. During the last trade, stock’s minimum price has been reached out at $17.39 while the maximum trading price moved at $20.00.

Earnings-per-Share (EPS) is the portion of a Flex Ltd. profit that is allocated to each outstanding share of its common stock. It is calculated by taking the difference between a company’s net income and dividends paid for preferred stock and then dividing that figure by the average number of shares outstanding.

The EPS of FLEX was strolling at 0.64, measuring its EPS growth this year at -3.00%. As a result, the company has an EPS growth of 11.06% for the coming year.

Presently the stock price is moving 244.59% off from the highest level of twelve months and -7.83% above from twelve months low.

Flex Ltd. (NASDAQ:FLEX) marked 52-week highest price level of $20.04 on Jan 27, 2021 and 52-week lowest price level of $5.36 on Jan 27, 2021.

As of current trade, Flex Ltd. (NASDAQ:FLEX) has shown weekly downbeat performance of -4.70%. Its six months performance indicated a bullish 67.00% movement while its yearly performance reflected a positive trend of 41.15%. Year-to-date (YTD) performance of the stock illustrate upbeat trend of 2.73%.

Shares of Flex Ltd. (NASDAQ:FLEX) currently have an ABR of 1.83, derived from a total of 6 opinions. The company’s price sits 5.34% above from its 50-day moving average of $18.11 and 46.28% above from the stock’s 200-day moving average of $13.95. The company has Relative Strength Index (RSI 14) of 52.37 along with Average True Range (ATR 14) of 0.97. Its weekly and monthly volatility is 8.05%, 4.78% respectively. The company’s beta value is at 1.66.

Flex Ltd. currently has a PEG ratio of 2.31 where as its P/E ratio is 28.81. The company’s price to sales ratio for trailing twelve months is 0.40 and price to book ratio for most recent quarter is 2.97, whereas price to cash per share for the most recent quarter is 3.89.

Flex Ltd. (NASDAQ:FLEX)’s price to free cash flow for trailing twelve months is -. Its quick ratio for most recent quarter is 1.00 along with current ratio for most recent quarter of 1.50.

Total debt to equity ratio of the company for most recent quarter is 1.22 whereas long term debt to equity ratio for most recent quarter is 1.20.

Flex Ltd. (NASDAQ:FLEX) has a Return on Assets of 2.30%. The company currently has a Return on Equity of 11.00% and Return on Investment of 3.00%.

Jake Charles

About Jake Charles

This is Jake Charles, a Senior News Writer for “Stocks Equity”. I covers “Active Stocks” sector and writes about trending Active Hot companies from an exclusive and “out of the box” perspective. I worked independently as a self motivator and with the financial institute as financial adviser to invest in the Active sector for over 9 years in the developing countries by introducing new phases and ways to improve in this sector. I like to travel all over the globe to get new experience and provide by best services to the companies. As an advisor I like to work with new people to share and explore new ideas keeping in view minimizing the operating cost and giving the best final product through new technology and minimizing the time of development.

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