Wall Street brokerages expect that Fabrinet (NYSE:FN) will post earnings of $0.94 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Fabrinet’s earnings. The highest EPS estimate is $0.94 and the lowest is $0.92. Fabrinet reported earnings of $0.81 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 16%. The company is expected to announce its next earnings results on Monday, August 19th.
On average, analysts expect that Fabrinet will report full year earnings of $3.74 per share for the current fiscal year, with EPS estimates ranging from $3.72 to $3.75. For the next year, analysts expect that the company will post earnings of $4.07 per share, with EPS estimates ranging from $3.95 to $4.27. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that cover Fabrinet.
Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, May 6th. The technology company reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.16. Fabrinet had a net margin of 7.27% and a return on equity of 15.60%. The firm had revenue of $398.95 million for the quarter, compared to analysts’ expectations of $389.60 million. During the same quarter in the prior year, the business earned $0.71 EPS. The business’s quarterly revenue was up 20.1% on a year-over-year basis.
A number of research analysts recently weighed in on the stock. Piper Jaffray Companies reissued a “hold” rating on shares of Seattle Genetics in a report on Thursday, March 28th. ValuEngine downgraded Zymeworks from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. Northland Securities restated a “buy” rating and issued a $35.00 price target on shares of Carbonite in a research report on Monday, July 1st. Needham & Company LLC lowered their price target on Fabrinet from $70.00 to $62.00 and set a “buy” rating for the company in a research report on Tuesday, May 28th. Finally, Zacks Investment Research downgraded Hanger from a “hold” rating to a “sell” rating in a research report on Tuesday, May 28th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $57.92.
In related news, Director David T. Mitchell sold 30,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $42.90, for a total value of $1,287,000.00. Following the completion of the sale, the director now directly owns 73,748 shares in the company, valued at $3,163,789.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 90,000 shares of company stock valued at $4,651,800. 1.90% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund grew its stake in shares of Fabrinet by 3.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 14,766 shares of the technology company’s stock worth $733,000 after acquiring an additional 500 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Fabrinet during the second quarter worth about $2,608,000. Dalton Greiner Hartman Maher & Co. purchased a new stake in shares of Fabrinet during the second quarter worth about $4,848,000. Scout Investments Inc. grew its stake in shares of Fabrinet by 91.2% during the second quarter. Scout Investments Inc. now owns 150,990 shares of the technology company’s stock worth $7,500,000 after acquiring an additional 72,033 shares during the last quarter. Finally, Sanders Morris Harris LLC purchased a new stake in shares of Fabrinet during the second quarter worth about $1,182,000. Institutional investors own 94.34% of the company’s stock.
FN traded down $0.60 during trading on Friday, reaching $51.89. 516 shares of the company traded hands, compared to its average volume of 337,980. The company has a current ratio of 3.23, a quick ratio of 2.30 and a debt-to-equity ratio of 0.07. Fabrinet has a 12-month low of $38.34 and a 12-month high of $62.31. The business’s fifty day simple moving average is $48.56. The stock has a market capitalization of $1.93 billion, a P/E ratio of 17.42, a P/E/G ratio of 1.11 and a beta of 1.02.
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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