Fabrinet (FN) Expected to Announce Quarterly Sales of $386.70 Million

Equities research analysts expect that Fabrinet (NYSE:FN) will report sales of $386.70 million for the current fiscal quarter, according to Zacks. Four analysts have made 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 would suggest 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 fiscal year, with estimates ranging from $1.53 billion to $1.55 billion. For the next 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 calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Fabrinet.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, November 5th. The technology company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates 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 in the previous year, the firm posted $0.75 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis.

Several equities analysts recently commented on FN shares. ValuEngine upgraded shares of Fabrinet from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. B. Riley upped their price target on shares of Fabrinet from $40.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, August 16th. Zacks Investment Research upgraded shares of Fabrinet from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Friday, August 17th. Needham & Company LLC downgraded shares of Fabrinet from a “strong-buy” rating to a “buy” rating and upped their price target for the company from $45.00 to $55.00 in a report on Tuesday, August 21st. They noted that the move was a valuation call. Finally, Piper Jaffray Companies boosted their price objective on shares of Fabrinet from $42.00 to $52.00 and gave the company an “overweight” rating in a research report on Tuesday, August 21st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $50.17.

In related news, COO Harpal Gill sold 33,479 shares of the stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $52.00, for a total transaction of $1,740,908.00. Following the completion of the sale, the chief operating officer now owns 51,860 shares of the company’s stock, valued at $2,696,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Toh-Seng Ng sold 30,000 shares of the stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $52.70, for a total transaction of $1,581,000.00. Following the sale, the chief financial officer now directly owns 117,340 shares of the company’s stock, valued at approximately $6,183,818. The disclosure for this sale can be found here. Insiders have sold 149,560 shares of company stock valued at $7,296,923 in the last three months. 1.90% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of FN. Quantbot Technologies LP acquired a new position in Fabrinet during the 3rd quarter valued at approximately $110,000. BlueMountain Capital Management LLC acquired a new position in Fabrinet during the 3rd quarter valued at approximately $111,000. Csenge Advisory Group acquired a new position in Fabrinet during the 3rd quarter valued at approximately $117,000. C M Bidwell & Associates Ltd. acquired a new position in Fabrinet during the 3rd quarter valued at approximately $169,000. Finally, Boenning & Scattergood Inc. acquired a new position in Fabrinet during the 3rd quarter valued at approximately $222,000. 99.34% of the stock is owned by institutional investors.

NYSE:FN traded down $0.04 during mid-day trading on Wednesday, hitting $52.73. 379,577 shares of the stock traded hands, compared to its average volume of 437,243. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 1.30 and a beta of 0.68. Fabrinet has a 52 week low of $24.02 and a 52 week high of $54.70. The company has a current ratio of 3.00, a quick ratio of 2.09 and a debt-to-equity ratio of 0.08.

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.

Read More: Using the New Google Finance Tool

Get a free copy of the Zacks research report on Fabrinet (FN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Fabrinet (NYSE:FN)

Receive News & Ratings for Fabrinet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fabrinet and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply