Equities research analysts expect Fabrinet (NYSE:FN) to report sales of $389.08 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Fabrinet’s earnings, with the highest sales estimate coming in at $391.00 million and the lowest estimate coming in at $388.00 million. Fabrinet reported sales of $332.21 million during the same quarter last year, which would suggest a positive year over year growth rate of 17.1%. The business is expected to issue its next quarterly earnings results on Monday, May 6th.
On average, analysts expect that Fabrinet will report full-year sales of $1.57 billion for the current fiscal year, with estimates ranging from $1.57 billion to $1.58 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.74 billion, with estimates ranging from $1.66 billion to $1.81 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Fabrinet.
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Fabrinet (NYSE:FN) last announced its earnings results on Monday, February 4th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. The business had revenue of $403.10 million for the quarter, compared to analyst estimates of $386.22 million. Fabrinet had a net margin of 7.08% and a return on equity of 14.91%. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period last year, the firm posted $0.72 earnings per share.
A number of brokerages have recently issued reports on FN. Piper Jaffray Companies raised their target price on shares of Fabrinet from $56.00 to $61.00 and gave the stock an “overweight” rating in a research report on Thursday, January 24th. Needham & Company LLC restated a “buy” rating and set a $62.00 target price (up from $58.00) on shares of Fabrinet in a research report on Tuesday, December 18th. Zacks Investment Research lowered shares of Fabrinet from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research report on Thursday, January 24th. Finally, Stifel Nicolaus began coverage on shares of Fabrinet in a research report on Monday, October 22nd. They set a “buy” rating and a $53.00 target price on the stock. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $53.17.
In related news, CEO Seamus Grady sold 6,081 shares of the stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $51.54, for a total transaction of $313,414.74. Following the completion of the sale, the chief executive officer now directly owns 67,726 shares of the company’s stock, valued at $3,490,598.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Toh-Seng Ng sold 30,000 shares of the stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $52.70, for a total value of $1,581,000.00. Following the sale, the chief financial officer now directly owns 117,340 shares of the company’s stock, valued at $6,183,818. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,560 shares of company stock worth $3,635,323. Insiders own 1.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Nkcfo LLC bought a new stake in shares of Fabrinet in the 4th quarter valued at approximately $30,000. Quantbot Technologies LP bought a new position in shares of Fabrinet in the 3rd quarter valued at $110,000. BlueMountain Capital Management LLC bought a new position in shares of Fabrinet in the 3rd quarter valued at $111,000. Csenge Advisory Group bought a new position in shares of Fabrinet in the 3rd quarter valued at $117,000. Finally, Acadian Asset Management LLC bought a new position in shares of Fabrinet in the 4th quarter valued at $118,000. 91.62% of the stock is owned by hedge funds and other institutional investors.
Shares of FN traded down $0.41 during mid-day trading on Tuesday, reaching $51.50. 3,300 shares of the company’s stock were exchanged, compared to its average volume of 513,031. The company has a current ratio of 3.19, a quick ratio of 2.09 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.92 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 1.32 and a beta of 0.61. Fabrinet has a 52-week low of $27.54 and a 52-week high of $58.24.
Fabrinet Company Profile
Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and test.
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