Fabrinet (FN) Issues Q2 2019 Earnings Guidance

Fabrinet (NYSE:FN) issued an update on its second quarter 2019 earnings guidance on Monday morning. The company provided EPS guidance of $0.91-0.94 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.84. The company issued revenue guidance of $380-388 million, compared to the consensus revenue estimate of $366.07 million.

Shares of Fabrinet stock traded down $1.35 during trading hours on Monday, hitting $45.20. 591,290 shares of the company’s stock traded hands, compared to its average volume of 487,871. Fabrinet has a 12-month low of $24.02 and a 12-month high of $48.97. The firm has a market cap of $1.71 billion, a PE ratio of 15.17, a P/E/G ratio of 1.28 and a beta of 0.68. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.16 and a quick ratio of 2.21.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, August 20th. The technology company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.06. Fabrinet had a return on equity of 12.68% and a net margin of 6.14%. The firm had revenue of $345.30 million during the quarter, compared to analyst estimates of $338.12 million. During the same period last year, the firm posted $0.86 EPS. The business’s revenue was down 6.8% compared to the same quarter last year. As a group, equities analysts anticipate that Fabrinet will post 2.8 EPS for the current fiscal year.

Several research analysts have recently weighed in on the company. Zacks Investment Research downgraded Fabrinet from a hold rating to a sell rating in a research note on Tuesday, July 10th. ValuEngine raised Fabrinet from a sell rating to a hold rating in a report on Wednesday, August 8th. B. Riley raised their price objective on Fabrinet from $40.00 to $50.00 and gave the company a buy rating in a report on Thursday, August 16th. Needham & Company LLC cut Fabrinet from a strong-buy rating to a buy rating and lifted their price target for the stock from $45.00 to $55.00 in a research note on Tuesday, August 21st. They noted that the move was a valuation call. Finally, Piper Jaffray Companies lifted their price target on Fabrinet from $42.00 to $52.00 and gave the stock an overweight rating in a research note on Tuesday, August 21st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $48.43.

In related news, CFO Toh-Seng Ng sold 20,000 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $47.77, for a total transaction of $955,400.00. Following the completion of the transaction, the chief financial officer now directly owns 177,340 shares of the company’s stock, valued at $8,471,531.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Rollance E. Olson sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $48.03, for a total value of $240,150.00. Following the transaction, the director now directly owns 48,303 shares of the company’s stock, valued at $2,319,993.09. The disclosure for this sale can be found here. Insiders have sold 165,000 shares of company stock valued at $7,727,350 in the last three months. 1.90% of the stock is currently owned by corporate insiders.

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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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Earnings History and Estimates for Fabrinet (NYSE:FN)

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