Equities analysts forecast that Fabrinet (NYSE:FN) will post earnings of $0.72 per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Fabrinet’s earnings. The highest EPS estimate is $0.73 and the lowest is $0.71. Fabrinet reported earnings of $0.80 per share during the same quarter last year, which would suggest a negative year over year growth rate of 10%. The firm is expected to issue its next earnings report on Monday, May 14th.
On average, analysts expect that Fabrinet will report full-year earnings of $2.92 per share for the current financial year, with EPS estimates ranging from $2.89 to $2.96. For the next fiscal year, analysts forecast that the business will report earnings of $3.31 per share, with EPS estimates ranging from $3.25 to $3.35. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Fabrinet.
Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, February 5th. The technology company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. The company had revenue of $337.10 million for the quarter, compared to analyst estimates of $329.41 million. Fabrinet had a return on equity of 12.96% and a net margin of 6.24%. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 earnings per share.
Several equities analysts have issued reports on FN shares. ValuEngine lowered Fabrinet from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Northland Securities set a $37.00 price objective on Fabrinet and gave the stock a “buy” rating in a report on Monday, January 29th. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $40.00 price objective (down previously from $45.00) on shares of Fabrinet in a report on Tuesday, February 6th. Finally, Stifel Nicolaus dropped their price objective on Fabrinet from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, January 24th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Fabrinet currently has an average rating of “Buy” and an average target price of $41.25.
In related news, insider David T. Mitchell sold 40,000 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $30.04, for a total transaction of $1,201,600.00. Following the transaction, the insider now owns 111,057 shares of the company’s stock, valued at $3,336,152.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frank H. Levinson purchased 10,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were bought at an average cost of $28.33 per share, for a total transaction of $283,300.00. Following the acquisition, the director now owns 72,361 shares of the company’s stock, valued at $2,049,987.13. The disclosure for this purchase can be found here. In the last three months, insiders have sold 240,442 shares of company stock worth $7,130,099. Corporate insiders own 3.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FN. JPMorgan Chase & Co. lifted its position in shares of Fabrinet by 53.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 124,233 shares of the technology company’s stock valued at $4,597,000 after acquiring an additional 43,405 shares in the last quarter. Nationwide Fund Advisors lifted its holdings in Fabrinet by 58.9% during the 3rd quarter. Nationwide Fund Advisors now owns 62,476 shares of the technology company’s stock valued at $2,315,000 after purchasing an additional 23,161 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in Fabrinet by 540.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,062,930 shares of the technology company’s stock valued at $30,506,000 after purchasing an additional 896,930 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Fabrinet by 0.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,042,651 shares of the technology company’s stock valued at $75,701,000 after purchasing an additional 14,887 shares during the last quarter. Finally, Legion Partners Asset Management LLC lifted its holdings in Fabrinet by 47.1% during the 3rd quarter. Legion Partners Asset Management LLC now owns 736,709 shares of the technology company’s stock valued at $27,302,000 after purchasing an additional 235,900 shares during the last quarter. 98.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Fabrinet (NYSE FN) traded down $0.01 during mid-day trading on Friday, hitting $33.01. The company’s stock had a trading volume of 136,153 shares, compared to its average volume of 734,903. The stock has a market capitalization of $1,245.20, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 1.31 and a beta of 0.50. Fabrinet has a 12 month low of $24.02 and a 12 month high of $47.02. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.99 and a current ratio of 2.84.
Fabrinet declared that its board has initiated a share buyback program on Monday, February 5th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
TRADEMARK VIOLATION WARNING: This report was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this report on another publication, it was stolen and reposted in violation of United States and international trademark and copyright law. The original version of this report can be viewed at https://www.dispatchtribunal.com/2018/03/20/analysts-anticipate-fabrinet-fn-will-announce-earnings-of-0-72-per-share.html.
Fabrinet Company Profile
Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Company offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.
Get a free copy of the Zacks research report on Fabrinet (FN)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Fabrinet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fabrinet and related companies with MarketBeat.com's FREE daily email newsletter.