Zacks: Analysts Anticipate Fabrinet (FN) to Post $0.75 EPS

Wall Street brokerages expect Fabrinet (NYSE:FN) to post earnings of $0.75 per share for the current quarter, according to Zacks. Three analysts have issued estimates for Fabrinet’s earnings. Fabrinet reported earnings per share of $0.86 in the same quarter last year, which suggests a negative year-over-year growth rate of 12.8%. The business is scheduled to report its next quarterly earnings results on Monday, August 20th.

On average, analysts expect that Fabrinet will report full year earnings of $2.91 per share for the current financial year, with EPS estimates ranging from $2.89 to $2.92. For the next fiscal year, analysts expect that the company will post earnings of $3.21 per share, with EPS estimates ranging from $3.10 to $3.34. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Fabrinet.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, May 7th. The technology company reported $0.71 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.71. Fabrinet had a return on equity of 12.48% and a net margin of 6.36%. The business had revenue of $332.20 million for the quarter, compared to analyst estimates of $319.17 million. During the same quarter in the prior year, the company earned $0.80 earnings per share. The company’s revenue was down 9.4% on a year-over-year basis.

A number of analysts have recently weighed in on FN shares. ValuEngine lowered Fabrinet from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Northland Securities reissued a “buy” rating and issued a $35.00 target price on shares of Fabrinet in a report on Tuesday, April 17th. B. Riley increased their target price on Fabrinet to $38.00 and gave the company a “buy” rating in a report on Tuesday, May 8th. Finally, Needham & Company LLC increased their target price on Fabrinet from $40.00 to $45.00 and gave the company a “strong-buy” rating in a report on Thursday, June 14th. Three analysts have rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Fabrinet presently has an average rating of “Hold” and an average price target of $40.67.

In related news, COO Harpal Gill sold 21,457 shares of the stock in a transaction on Monday, May 21st. The stock was sold at an average price of $37.06, for a total value of $795,196.42. Following the transaction, the chief operating officer now owns 130,506 shares of the company’s stock, valued at $4,836,552.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David T. Mitchell sold 40,000 shares of the stock in a transaction on Wednesday, May 2nd. The shares were sold at an average price of $30.05, for a total value of $1,202,000.00. Following the completion of the transaction, the insider now directly owns 111,057 shares in the company, valued at approximately $3,337,262.85. The disclosure for this sale can be found here. Insiders sold 224,730 shares of company stock worth $7,713,854 in the last three months. 3.30% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its stake in Fabrinet by 20.1% in the first quarter. Millennium Management LLC now owns 9,353 shares of the technology company’s stock valued at $293,000 after acquiring an additional 1,565 shares in the last quarter. California Public Employees Retirement System boosted its stake in Fabrinet by 1.2% in the fourth quarter. California Public Employees Retirement System now owns 138,678 shares of the technology company’s stock valued at $3,980,000 after acquiring an additional 1,700 shares in the last quarter. Jefferies Group LLC boosted its stake in Fabrinet by 34.3% in the fourth quarter. Jefferies Group LLC now owns 7,661 shares of the technology company’s stock valued at $220,000 after acquiring an additional 1,958 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Fabrinet by 3.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 120,816 shares of the technology company’s stock valued at $3,467,000 after acquiring an additional 3,574 shares in the last quarter. Finally, Optimum Investment Advisors acquired a new position in Fabrinet in the first quarter valued at $115,000. Institutional investors own 97.70% of the company’s stock.

Fabrinet opened at $36.89 on Thursday, MarketBeat Ratings reports. Fabrinet has a twelve month low of $24.02 and a twelve month high of $47.02. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.01 and a current ratio of 2.84. The firm has a market cap of $1.36 billion, a PE ratio of 15.83, a P/E/G ratio of 1.21 and a beta of 0.63.

About Fabrinet

Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services to original equipment manufacturers of optical communication components, modules and sub-systems, industrial lasers, medical devices, and sensors. It offers a range of optical and electro-mechanical capabilities across 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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