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Flex (FLEX) Gains As Market Dips: What You Should Know
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In the latest trading session, Flex (FLEX - Free Report) closed at $21.46, marking a +0.23% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.25%. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq added 5.91%.
Coming into today, shares of the electronics designer and manufacturer had lost 2.1% in the past month. In that same time, the Computer and Technology sector lost 3.63%, while the S&P 500 lost 2.59%.
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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Flex currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Flex has a Forward P/E ratio of 9.39 right now. For comparison, its industry has an average Forward P/E of 16.23, which means Flex is trading at a discount to the group.
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 1.91 at yesterday's closing price.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 146, putting it in the bottom 43% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Flex (FLEX) Gains As Market Dips: What You Should Know
In the latest trading session, Flex (FLEX - Free Report) closed at $21.46, marking a +0.23% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.25%. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq added 5.91%.
Coming into today, shares of the electronics designer and manufacturer had lost 2.1% in the past month. In that same time, the Computer and Technology sector lost 3.63%, while the S&P 500 lost 2.59%.
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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Flex currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Flex has a Forward P/E ratio of 9.39 right now. For comparison, its industry has an average Forward P/E of 16.23, which means Flex is trading at a discount to the group.
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 1.91 at yesterday's closing price.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 146, putting it in the bottom 43% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.