Fabrinet (FN) Releases Q2 Earnings Guidance

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Fabrinet (NYSE:FN) issued an update on its second quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.91-0.94 for the period, compared to the Thomson Reuters consensus estimate of $0.84. The company issued revenue guidance of $380-388 million, compared to the consensus revenue estimate of $366.07 million.Fabrinet also updated its Q2 2019 guidance to $0.91-0.94 EPS.

FN traded down $1.35 during trading on Monday, hitting $45.20. The company’s stock had a trading volume of 591,290 shares, compared to its average volume of 487,871. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.21 and a current ratio of 3.16. The company has a market capitalization of $1.71 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 1.28 and a beta of 0.68. Fabrinet has a twelve month low of $24.02 and a twelve month high of $48.97.

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

A number of research firms have recently commented on FN. Stifel Nicolaus began coverage on Fabrinet in a report on Monday, October 22nd. They set a buy rating and a $53.00 price objective for the company. Needham & Company LLC upped their price objective on Fabrinet from $55.00 to $58.00 and gave the stock a buy rating in a report on Wednesday, September 5th. Zacks Investment Research downgraded Fabrinet from a hold rating to a sell rating in a report on Tuesday, July 10th. ValuEngine upgraded Fabrinet from a hold rating to a buy rating in a report on Thursday, August 23rd. Finally, B. Riley downgraded Fabrinet from a buy rating to a neutral rating and set a $52.00 price objective for the company. in a report on Tuesday, September 4th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Fabrinet has a consensus rating of Buy and an average price target of $48.43.

In related news, Director Rollance E. Olson sold 5,000 shares of the company’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $48.03, for a total transaction of $240,150.00. Following the completion of the sale, the director now directly owns 48,303 shares of the company’s stock, valued at approximately $2,319,993.09. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Toh-Seng Ng sold 40,000 shares of the company’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $47.78, for a total transaction of $1,911,200.00. Following the sale, the chief financial officer now directly owns 157,340 shares of the company’s stock, valued at $7,517,705.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 165,000 shares of company stock valued at $7,727,350. Insiders own 1.90% of the company’s stock.

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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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