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Why Flextronics International (FLEX) Stock Is Up Today

Stocks in this article: FLEX

NEW YORK (TheStreet) -- Shares of Flextronics International Ltd. (FLEX) are up 2.00% to $9.17 on Thursday due to the company's 2014 fourth quarter rise in GAAP income. 

For the 2014 fourth quarter the company, which provides global supply chain solutions, reported its GAAP income from continuing operations was $43 million, compared to a -$49 million loss from the same quarter last year.

GAAP earnings were 7 cents per share, compared to a loss of -8 cents per share from the year ago quarter.

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Flextronics also reported its net sales for the fiscal year, which ended March 31, 2014, were $26.1 billion, a $2.5 billion increase from the $23.6 billion recognized at the end of the 2013 fiscal year.

TheStreet Ratings team rates FLEXTRONICS INTERNATIONAL as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate FLEXTRONICS INTERNATIONAL (FLEX) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, solid stock price performance, increase in net income and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • The revenue growth came in higher than the industry average of 1.8%. Since the same quarter one year prior, revenues rose by 17.3%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • Powered by its strong earnings growth of 187.50% and other important driving factors, this stock has surged by 37.90% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, although almost any stock can fall in a broad market decline, FLEX should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Electronic Equipment, Instruments & Components industry. The net income increased by 206.6% when compared to the same quarter one year prior, rising from $47.35 million to $145.16 million.
  • Net operating cash flow has significantly increased by 59.87% to $764.55 million when compared to the same quarter last year. In addition, FLEXTRONICS INTERNATIONAL has also vastly surpassed the industry average cash flow growth rate of 0.94%.
  • FLEXTRONICS INTERNATIONAL reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, FLEXTRONICS INTERNATIONAL reported lower earnings of $0.45 versus $0.71 in the prior year. This year, the market expects an improvement in earnings ($0.86 versus $0.45).
  • You can view the full analysis from the report here: FLEX Ratings Report
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