Fabrinet (NYSE:FN) Expected to Post Quarterly Sales of $433.71 Million


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Equities analysts predict that Fabrinet (NYSE:FN) will report $433.71 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Fabrinet’s earnings. The highest sales estimate is $437.65 million and the lowest is $430.00 million. Fabrinet reported sales of $426.22 million during the same quarter last year, which would suggest a positive year over year growth rate of 1.8%. The business is expected to announce its next quarterly earnings results on Monday, February 1st.

On average, analysts expect that Fabrinet will report full year sales of $1.77 billion for the current year, with estimates ranging from $1.73 billion to $1.79 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.91 billion, with estimates ranging from $1.85 billion to $1.98 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Fabrinet.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, November 2nd. The technology company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.07. The business had revenue of $436.60 million during the quarter, compared to the consensus estimate of $421.66 million. Fabrinet had a net margin of 7.18% and a return on equity of 13.37%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 earnings per share.

FN has been the topic of several recent analyst reports. Zacks Investment Research lowered Fabrinet from a “buy” rating to a “hold” rating in a research report on Wednesday, January 6th. Stifel Nicolaus boosted their target price on Fabrinet from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, November 3rd. BidaskClub raised Fabrinet from a “hold” rating to a “buy” rating in a report on Thursday, January 7th. Finally, Northland Securities upped their target price on Fabrinet from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $73.75.

In other news, CEO Seamus Grady sold 6,081 shares of the stock in a transaction on Monday, November 23rd. The stock was sold at an average price of $70.71, for a total transaction of $429,987.51. Following the transaction, the chief executive officer now directly owns 90,711 shares of the company’s stock, valued at approximately $6,414,174.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.67% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new position in shares of Fabrinet during the 3rd quarter valued at $42,000. Nisa Investment Advisors LLC bought a new position in Fabrinet in the 3rd quarter worth $50,000. FinTrust Capital Advisors LLC raised its holdings in Fabrinet by 96.2% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 1,140 shares of the technology company’s stock worth $71,000 after purchasing an additional 559 shares during the period. Advisor Group Holdings Inc. raised its holdings in Fabrinet by 53.4% in the 2nd quarter. Advisor Group Holdings Inc. now owns 1,339 shares of the technology company’s stock worth $84,000 after purchasing an additional 466 shares during the period. Finally, American Beacon Advisors Inc. bought a new position in Fabrinet in the 3rd quarter worth $164,000. 89.26% of the stock is currently owned by hedge funds and other institutional investors.

NYSE FN opened at $83.05 on Thursday. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 25.87 and a beta of 0.99. The stock’s 50 day moving average price is $74.70 and its two-hundred day moving average price is $68.30. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.37 and a current ratio of 3.32. Fabrinet has a 52 week low of $44.00 and a 52 week high of $87.06.

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 advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.

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Earnings History and Estimates for Fabrinet (NYSE:FN)

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