$0.79 EPS Expected for Fabrinet (FN) This Quarter

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Wall Street analysts expect that Fabrinet (NYSE:FN) will post earnings of $0.79 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Fabrinet’s earnings, with estimates ranging from $0.78 to $0.80. Fabrinet reported earnings per share of $0.75 during the same quarter last year, which suggests a positive year over year growth rate of 5.3%. The firm is expected to report its next quarterly earnings results on Monday, November 5th.

According to Zacks, analysts expect that Fabrinet will report full-year earnings of $3.24 per share for the current year, with EPS estimates ranging from $3.10 to $3.34. For the next financial year, analysts forecast that the firm will post earnings of $3.72 per share, with EPS estimates ranging from $3.67 to $3.76. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Fabrinet.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, August 20th. The technology company reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.06. Fabrinet had a net margin of 6.36% and a return on equity of 12.48%. The company had revenue of $345.30 million for the quarter, compared to analyst estimates of $338.12 million. During the same quarter last year, the firm posted $0.86 earnings per share. The company’s quarterly revenue was down 6.8% compared to the same quarter last year.

A number of equities analysts have recently commented on FN shares. Zacks Investment Research raised shares of Fabrinet from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. ValuEngine lowered shares of Fabrinet from a “hold” rating to a “sell” rating in a research report on Saturday, June 2nd. Needham & Company LLC lifted their price target on shares of Fabrinet from $40.00 to $45.00 and gave the company a “strong-buy” rating in a research report on Thursday, June 14th. B. Riley lifted their price target on shares of Fabrinet from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, August 16th. Finally, Northland Securities lowered shares of Fabrinet from an “outperform” rating to a “market perform” rating and set a $33.00 price target on the stock. in a research report on Wednesday, May 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Fabrinet presently has a consensus rating of “Hold” and an average target price of $45.14.

In other news, insider David T. Mitchell sold 40,000 shares of the firm’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $35.12, for a total value of $1,404,800.00. Following the sale, the insider now owns 111,057 shares in the company, valued at $3,900,321.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Harpal Gill sold 16,041 shares of the firm’s stock in a transaction on Tuesday, May 29th. The stock was sold at an average price of $37.05, for a total transaction of $594,319.05. Following the completion of the sale, the chief operating officer now owns 46,523 shares in the company, valued at approximately $1,723,677.15. The disclosure for this sale can be found here. In the last 90 days, insiders sold 203,273 shares of company stock worth $7,530,658. 3.30% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in FN. Optimum Investment Advisors acquired a new stake in Fabrinet during the first quarter worth $115,000. First Mercantile Trust Co. acquired a new stake in Fabrinet during the first quarter worth $134,000. Xact Kapitalforvaltning AB acquired a new stake in Fabrinet during the second quarter worth $226,000. 6 Meridian acquired a new stake in Fabrinet during the first quarter worth $203,000. Finally, Profund Advisors LLC acquired a new stake in Fabrinet during the first quarter worth $207,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

NYSE:FN opened at $46.75 on Friday. Fabrinet has a 12 month low of $24.02 and a 12 month high of $48.20. The company has a market capitalization of $1.61 billion, a PE ratio of 18.74, a PEG ratio of 1.12 and a beta of 0.61. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.01 and a current ratio of 2.84.

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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Earnings History and Estimates for Fabrinet (NYSE:FN)

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