Since the turn of the calendar to 2012, shares in the Nasdaq listed penny stock of 1-800-Flowers.com Inc. (FLWS) have yet to slow down to smell the roses. FLWS stock price has steadily risen since the beginning of 2012 from $2.20 to as high as $3.37, a 53.18% gain. FLWS stock touched $3.36 in the last trading session after Wall Street analysts at The Benchmark Company initiated coverage of 1-800-Flowers.com Inc. with a “buy” rating and a $5.00 price target. In April, analysts at Noble Financial also initiated coverage with a “buy” rating.
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FLWS Stock Chart: YTD
Market Cap: 205.38M
Trailing P/E: 13.32
Price/Sales (ttm): 0.29
Price/Book (mrq): 1.34
52-Week High
(Jul 8, 2011): 3.42
52-Week Low
(Oct 4, 2011): 2.08
Avg Vol (3 month): 115,628
Avg Vol (10 day): 118,888
Shares Outstanding: 64.79M
Float: 25.07M
% Held by Insiders: 6.84%
% Held by Institutions: 63.20%
The most recent equity investment the Company made into Flores Online, one of Brazil’s leading floral and gift retailers, is a major move into one of the biggest emerging markets. The deal opens up 1-800-FLOWERS.COM to work with Carlos Miranda and his San Paolo, Brazil-based BR Opportunities private equity fund which has also taken an equity stake in Flores Online.
That investment, coupled with the Company’s Summer of a Million Smiles program to deliver one million smiles this summer, could send the Company’s already growing revenues to the next level: $200 million per quarter. In the latest 10-Q filings for the three months ended April 1, 2012, FLWS reported Net revenues of $179.66 million compared to $158.84 for the same period the year prior. Net revenues for the 9 months ended were $536.70 million compared to $489.45 million for the same period the year prior.
Gross profit is growing as well. for the four periods above, FLWS reported gross profit of $73.04 million compared to $63.11 million and $219.93 million compared to $203.21 million respectively. It shows on the bottom line even though the most recent quarter was a loss, it was a much better loss than the same period last year. Net loss was reported as -$85 thousand for the quarter ended April 1, 2012 compared to a net loss of -$2.68 million for the same period the year prior. For the nine months ended, FLWS reported net income of $15.81 million compared to just $5.73 million for the same period the year prior.
With revenue growth of 13.11% for the quarter compared to last year, 9.65% for the nine months ended, paired gross increases of 15.73% and 8.23% respectively, FLWS has clearly shunned the economic depression from its business model.
ABOUT FLWS Stock
1-800-FLOWERS.COM, Inc. is the world’s leading florist and gift shop. For more than 35 years, the Company has been helping deliver smiles for our customers with gifts for every occasion, including fresh flowers and the finest selection of plants, gift baskets, gourmet foods, confections, candles, balloons and plush stuffed animals.
The Company’s 1-800-FLOWERS.COM Mobile Flower & Gift Center was named winner of the 2010 “Best Mobile App for E-commerce” by Digiday’s Publishing & Advertising Awards and the 2010 Mobile App of the Year Award in the “Best Shopping” category by Retail Info Systems. 1-800-FLOWERS.COM was honored in Internet Retailer’s “Hot 100: America’s Best Retail Web Sites” for 2011 and was one of only five retailers to receive the 2011 Customer Innovation Award from Avaya for transforming the business through innovative use of business communications and collaboration technologies.
To view the SEC filings for FLWS, click here.
Bottom Line: Nasdaq listed penny stocks are usually slower moving and less volatile than those that are listed on the OTC exchanges. FLWS is clearly stock to add to the list if you are a long investor. FLWS has been trying to test $3.40 for the last few sessions. If the stock can close above $3.37 with solid volume above the 10-day average, it could reach a new 52 week high before the one year anniversary of its $3.42.
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