Wall Street analysts expect Fabrinet (NYSE:FN) to report sales of $386.70 million for the current quarter, Zacks reports. Four analysts have provided estimates for Fabrinet’s earnings, with the lowest sales estimate coming in at $384.70 million and the highest estimate coming in at $388.00 million. Fabrinet reported sales of $337.07 million in the same quarter last year, which indicates a positive year over year growth rate of 14.7%. The company is expected to report its next quarterly earnings report on Monday, February 4th.
On average, analysts expect that Fabrinet will report full-year sales of $1.54 billion for the current year, with estimates ranging from $1.53 billion to $1.55 billion. For the next financial year, analysts expect that the business will post sales of $1.70 billion, with estimates ranging from $1.65 billion to $1.72 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Fabrinet.
Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, November 5th. The technology company reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.24. Fabrinet had a net margin of 6.54% and a return on equity of 13.53%. The firm had revenue of $377.00 million for the quarter, compared to the consensus estimate of $352.28 million. During the same period last year, the firm earned $0.75 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis.
Several brokerages have weighed in on FN. ValuEngine upgraded shares of Fabrinet from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. B. Riley raised their target price on shares of Fabrinet from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 16th. Zacks Investment Research upgraded shares of Fabrinet from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Friday, August 17th. Needham & Company LLC downgraded shares of Fabrinet from a “strong-buy” rating to a “buy” rating and raised their target price for the company 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 raised their target price on shares of Fabrinet from $42.00 to $52.00 and gave the company an “overweight” rating in a research note on Tuesday, August 21st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $50.17.
Shares of NYSE FN traded down $1.14 during midday trading on Wednesday, reaching $52.16. 573,815 shares of the company’s stock traded hands, compared to its average volume of 440,395. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.09 and a current ratio of 3.00. Fabrinet has a one year low of $24.02 and a one year high of $54.70. The company has a market cap of $1.94 billion, a PE ratio of 17.50, a P/E/G ratio of 1.31 and a beta of 0.65.
In other Fabrinet news, CFO Toh-Seng Ng sold 30,000 shares of the firm’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $52.70, for a total value of $1,581,000.00. Following the completion of the transaction, the chief financial officer now owns 117,340 shares of the company’s stock, valued at $6,183,818. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Seamus Grady sold 6,081 shares of the firm’s 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 transaction, the chief executive officer now directly owns 67,726 shares of the company’s stock, valued at approximately $3,490,598.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,560 shares of company stock valued at $5,451,323. Corporate insiders own 1.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Fabrinet by 1.6% in the third quarter. Vanguard Group Inc. now owns 2,183,069 shares of the technology company’s stock worth $100,988,000 after buying an additional 33,413 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Fabrinet by 5.9% in the third quarter. Legal & General Group Plc now owns 84,071 shares of the technology company’s stock worth $3,890,000 after buying an additional 4,677 shares during the last quarter. Csenge Advisory Group purchased a new position in shares of Fabrinet in the third quarter worth $117,000. BlueMountain Capital Management LLC purchased a new position in shares of Fabrinet in the third quarter worth $111,000. Finally, Paloma Partners Management Co purchased a new position in shares of Fabrinet in the third quarter worth $232,000. 93.50% of the stock is owned by institutional investors and hedge funds.
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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