Flextronics International Ltd. (FLEX) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $0.29 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.28. The company posted revenue of $5772.70 million in the period, compared to analysts expectations of $5836.90 million. The company’s revenue was down -3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.
Many Wall Street Analysts have commented on Flextronics International Ltd.. JP Morgan Initiated Flextronics International Ltd. on Apr 26, 2016 to “Overweight”, Price Target of the shares are set at $15.Company shares were Reiterated by Raymond James on Apr 11, 2016 to “Strong Buy”, Firm has raised the Price Target to $ 14 from a previous price target of $12.50 .
Flextronics International Ltd. opened for trading at $12.28 and hit $12.43 on the upside on Wednesday, eventually ending the session at $12.42, with a gain of 0.49% or 0.06 points. The heightened volatility saw the trading volume jump to 25,33,717 shares. Company has a market cap of $6,813 M.
In a different news, on Apr 18, 2016, Lay Koon Tan (director) sold 352 shares at $12.25 per share price. According to the SEC, on Mar 16, 2016, Michael M Mcnamara (Chief Executive Officer) sold 1,800 shares at $11.40 per share price. On Dec 9, 2015, William D Watkins (director) sold 30,000 shares at $11.01 per share price, according to the Form-4 filing with the securities and exchange commission.
Flextronics International Ltd. (Flextronics) is a Singapore-based provider of global supply chain solutions. The Company designs builds ships and serves packaged electronic products for its original equipment manufacturers (OEMs) in various groups. The Company offers a range of design and engineering services that relate to manufacturing (including enclosures metals plastic injection molding precision plastics machining and mechanicals) system integration and assembly and test services materials procurement inventory management logistics and after-sales services (including product repair warranty services re-manufacturing and maintenance) supply chain management software solutions and component product offerings (including rigid and flexible printed circuit boards and power adapters and chargers).