Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Flextronics International (FLEX) Share Price
News stories about Flextronics International (NASDAQ:FLEX) have trended somewhat positive this week, Accern reports. The research firm rates the sentiment of news coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Flextronics International earned a media sentiment score of 0.06 on Accern’s scale. Accern also assigned media coverage about the technology company an impact score of 46 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
These are some of the news headlines that may have effected Accern Sentiment Analysis’s analysis:
- Inside Singapore’s Manufacturing Sector: A 2Q17 Momentum Story (finance.yahoo.com)
- Flex Alert in effect Tuesday, Wednesday afternoon amid heat wave (foxla.com)
- Aurora 88 Anniversario (Flex Nib) | Fountain Pen Review (penhabit.com)
- Dongguan FlexGlory Machinery Accessories Co.,Ltd introduces innovative cable flexible conduit & machinery parts to worldwide clients (usfinancialnewstoday.com)
- InFocus Launches Mondopad Flex Collaboration System for Offices, Huddle Spaces (avnetwork.com)
Flextronics International (NASDAQ:FLEX) traded down 0.77% during midday trading on Tuesday, hitting $16.71. The stock had a trading volume of 2,295,952 shares. The company has a market cap of $8.85 billion, a P/E ratio of 28.32 and a beta of 0.75. Flextronics International has a 12 month low of $11.51 and a 12 month high of $17.76. The firm’s 50-day moving average price is $16.51 and its 200 day moving average price is $15.90.
Flextronics International (NASDAQ:FLEX) last released its earnings results on Thursday, April 27th. The technology company reported $0.29 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.29. The company had revenue of $5.86 billion during the quarter, compared to analysts’ expectations of $5.68 billion. Flextronics International had a return on equity of 21.19% and a net margin of 1.34%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 EPS. On average, analysts expect that Flextronics International will post $1.21 earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on FLEX shares. Zacks Investment Research downgraded Flextronics International from a “buy” rating to a “hold” rating in a report on Wednesday, March 29th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $22.00 target price (up from $17.00) on shares of Flextronics International in a report on Tuesday, February 21st. Citigroup Inc. set a $18.00 target price on Flextronics International and gave the stock a “buy” rating in a report on Monday, March 20th. Deutsche Bank AG reiterated a “hold” rating and issued a $16.00 target price (up from $15.00) on shares of Flextronics International in a report on Saturday, April 29th. Finally, ValuEngine upgraded Flextronics International from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Flextronics International currently has an average rating of “Buy” and an average target price of $17.13.
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In other news, CEO Michael M. Mcnamara sold 58,838 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $16.81, for a total value of $989,066.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael M. Mcnamara sold 48,317 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $16.52, for a total value of $798,196.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 387,718 shares of company stock valued at $6,405,086. 0.94% of the stock is currently owned by company insiders.
About Flextronics International
Flex Ltd, formerly Flextronics International Ltd. provides design, engineering, manufacturing, and supply chain services and solutions. The Company designs, builds, ships and services packaged consumer electronics and industrial products for original equipment manufacturers (OEMs). Its segments include High Reliability Solutions (HRS), Consumer Technologies Group (CTG), Industrial and Emerging Industries (IEI) and Communications & Enterprise Compute (CEC).
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