Fabrinet (FN) Expected to Post Quarterly Sales of $400.00 Million

Wall Street analysts expect Fabrinet (NYSE:FN) to announce $400.00 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Fabrinet’s earnings. The lowest sales estimate is $396.90 million and the highest is $402.90 million. Fabrinet reported sales of $345.33 million in the same quarter last year, which indicates a positive year-over-year growth rate of 15.8%. The business is expected to announce its next earnings report on Monday, August 19th.

On average, analysts expect that Fabrinet will report full year sales of $1.60 billion for the current financial year, with estimates ranging from $1.58 billion to $1.67 billion. For the next fiscal year, analysts expect that the company will report sales of $1.77 billion, with estimates ranging from $1.67 billion to $1.89 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Fabrinet.

Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, May 6th. The technology company reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.16. Fabrinet had a net margin of 7.27% and a return on equity of 15.60%. The company had revenue of $398.95 million for the quarter, compared to the consensus estimate of $389.60 million. During the same quarter last year, the firm posted $0.71 EPS. The firm’s revenue was up 20.1% compared to the same quarter last year.

Several research analysts have issued reports on the stock. Zacks Investment Research cut shares of Fabrinet from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. Needham & Company LLC dropped their target price on shares of Fabrinet from $70.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, May 28th. Northland Securities set a $45.00 target price on shares of Fabrinet and gave the stock a “hold” rating in a report on Monday, May 20th. ValuEngine cut shares of Fabrinet from a “buy” rating to a “hold” rating in a report on Saturday, May 18th. Finally, Piper Jaffray Companies increased their target price on shares of Fabrinet from $63.00 to $67.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $57.50.

Fabrinet stock traded up $1.48 during midday trading on Thursday, hitting $46.21. 483,709 shares of the company’s stock were exchanged, compared to its average volume of 423,850. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.23 and a quick ratio of 2.30. Fabrinet has a 12 month low of $35.02 and a 12 month high of $62.31. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 1.07 and a beta of 0.96.

In other news, Director David T. Mitchell sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $60.02, for a total value of $1,800,600.00. Following the sale, the director now directly owns 73,748 shares in the company, valued at approximately $4,426,354.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 90,000 shares of company stock worth $4,664,700 over the last 90 days. Company insiders own 1.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in FN. Macquarie Group Ltd. acquired a new stake in Fabrinet in the 4th quarter worth approximately $31,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Fabrinet in the 1st quarter worth approximately $35,000. Covington Capital Management acquired a new stake in Fabrinet in the 4th quarter worth approximately $108,000. Acadian Asset Management LLC acquired a new stake in Fabrinet in the 4th quarter worth approximately $118,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Fabrinet by 19.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,382 shares of the technology company’s stock worth $122,000 after purchasing an additional 392 shares in the last quarter. Institutional investors and hedge funds own 94.37% of the company’s stock.

About Fabrinet

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: Backdoor Roth IRA

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.