Brokerages expect Fabrinet (NYSE:FN) to report sales of $352.40 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Fabrinet’s earnings, with estimates ranging from $351.00 million to $354.00 million. Fabrinet posted sales of $357.31 million during the same quarter last year, which suggests a negative year-over-year growth rate of 1.4%. The company is scheduled to report its next earnings report on Monday, November 5th.
On average, analysts expect that Fabrinet will report full-year sales of $1.46 billion for the current fiscal year, with estimates ranging from $1.44 billion to $1.47 billion. For the next financial year, analysts expect that the company will post sales of $1.64 billion per share, with estimates ranging from $1.63 billion to $1.64 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Fabrinet.
Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, August 20th. The technology company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. The firm had revenue of $345.30 million for the quarter, compared to analyst estimates of $338.12 million. Fabrinet had a return on equity of 12.68% and a net margin of 6.14%. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 EPS.
Several analysts have recently issued reports on FN shares. Needham & Company LLC increased their target price on Fabrinet from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday. Zacks Investment Research lowered Fabrinet from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. ValuEngine raised Fabrinet from a “hold” rating to a “buy” rating in a report on Thursday, August 23rd. B. Riley lowered Fabrinet from a “buy” rating to a “neutral” rating and set a $52.00 target price on the stock. in a report on Tuesday. Finally, Northland Securities lowered Fabrinet from an “outperform” rating to a “market perform” rating and set a $33.00 target price on the stock. in a report on Wednesday, May 30th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Fabrinet presently has an average rating of “Buy” and a consensus price target of $45.86.
FN opened at $46.27 on Friday. The firm has a market cap of $1.75 billion, a PE ratio of 15.61, a P/E/G ratio of 1.28 and a beta of 0.64. Fabrinet has a 52-week low of $24.02 and a 52-week high of $48.97. The company has a current ratio of 3.16, a quick ratio of 2.21 and a debt-to-equity ratio of 0.08.
In related news, Director David T. Mitchell sold 40,000 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $46.14, for a total transaction of $1,845,600.00. Following the completion of the sale, the director now directly owns 69,641 shares in the company, valued at approximately $3,213,235.74. 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 company’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $48.03, for a total value of $240,150.00. Following the sale, the director now owns 48,303 shares of the company’s stock, valued at $2,319,993.09. The disclosure for this sale can be found here. Over the last three months, insiders have sold 205,000 shares of company stock worth $8,956,150. 3.30% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. Frontier Capital Management Co. LLC raised its position in Fabrinet by 458.7% in the second quarter. Frontier Capital Management Co. LLC now owns 1,477,476 shares of the technology company’s stock valued at $54,504,000 after purchasing an additional 1,213,046 shares during the last quarter. Paradigm Capital Management Inc. NY bought a new position in Fabrinet in the second quarter valued at about $29,442,000. Wedge Capital Management L L P NC bought a new position in Fabrinet in the second quarter valued at about $17,050,000. Bank of New York Mellon Corp raised its position in Fabrinet by 52.5% in the second quarter. Bank of New York Mellon Corp now owns 1,092,082 shares of the technology company’s stock valued at $40,288,000 after purchasing an additional 375,901 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Fabrinet by 15.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,623,670 shares of the technology company’s stock valued at $82,331,000 after purchasing an additional 348,728 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.
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.
See Also: Return on Equity (ROE)
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