Flex Ltd. (NASDAQ:FLEX) earnings expectations

Flex Ltd. (NASDAQ:FLEX) is projected to declare fiscal fourth quarter financial results right before the stock market’s official open on May 03, 2017. The stock added about 9 percent in price since last results when it was at $15.29 a share. Based on the most relevant past-periods data, there is an 50 percent probability for this firm’s share price to go down following next quarterly results. Earnings reaction history tells us that the equity price moved down 14 times out of last 28 reported quarters. It has beaten earnings-per-share estimates 66% of the time in its last 12 earnings reports. It fell short of earnings estimates on 2 occasions, and it has met expectations 2 times.

Here’s how traders responded to FLEX earnings announcements over the past few quarters.

Flex Ltd. (FLEX) Earnings Surprises & Reaction

Given its history, the average earnings announcement surprise was 0 percent over the past four quarters. Back on January 26, 2017, it posted earnings per-share earnings at $0.3 which came in line with the consensus $0.3 projection (no surprise). For the quarter, revenue came in at 5.69B versus consensus estimate of 5.71B. The stock gained 4.64 percent the session following the earnings reports were released, and on 7th day price change was 1.11 percent.

On October 27, 2016, it reported earnings at $0.24 a share compared with the consensus estimate of $0.24 per share (negative surprise of 0%). Revenue of 5.51B for that quarter was above the $5.45B analysts had expected. The stock climbed 4.39% the day following the earnings announcement, and on 7th day price change was -0.86%.

On July 21, 2016, it recorded $0.23 a share in earnings which missed the consensus estimate of $0.24 (negative surprise of -4.17%). Revenue for the quarter was $5.34B while analysts called for revenues to be $5.02B. The stock dropped -1.07% the day following the earnings data was made public, and on 7th day price change was -3.81%.

On April 28, 2016, it announced earnings per share at $0.25 versus the consensus estimate of $0.24 per share (positive surprise of 4.17%). That came on revenues of $5.09B for that period. Analysts had expected $5.29B in revenue.

Flex Ltd. Earnings Estimates

As Q4 earnings announcement date approaches, Wall Street is expecting earnings per share of $0.27. The analysts’ present consensus range is $0.26-$0.28 for EPS. The market consensus range for revenue is between $5.33B and $5.51B, with an average of $5.43B.

Flex Ltd. (NASDAQ:FLEX) last ended at $16.63, sending the company’s market cap near $8.9B. The consensus 12-month price target from analysts covering the stock is $17.75. The share price has declined -1.54% from its top level in 52 weeks and dropped 15.73% this year. It recently traded in a range of $16.57-$16.72 at a volume of 1336194 shares. The recent trading ended with the price nearly 2.21 higher for the last 5 trading days, rebounding 49.28% from its 52-week low.

 

Elbert Edwards: