$400.00 Million in Sales Expected for Fabrinet (NYSE:FN) This Quarter

Analysts expect Fabrinet (NYSE:FN) to post $400.00 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Fabrinet’s earnings. The highest sales estimate is $402.90 million and the lowest is $396.90 million. Fabrinet posted sales of $345.33 million during the same quarter last year, which suggests a positive year over year growth rate of 15.8%. The company is expected to issue its next quarterly earnings results on Monday, August 19th.

According to Zacks, analysts expect that Fabrinet will report full-year sales of $1.60 billion for the current year, with estimates ranging from $1.58 billion to $1.67 billion. For the next fiscal year, analysts expect that the firm will report sales of $1.77 billion, with estimates ranging from $1.67 billion to $1.89 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Fabrinet.

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

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

Shares of FN opened at $49.65 on Friday. Fabrinet has a twelve month low of $35.02 and a twelve month high of $62.31. The stock has a market cap of $1.81 billion, a PE ratio of 16.66, a P/E/G ratio of 1.16 and a beta of 0.96. The company has a current ratio of 3.23, a quick ratio of 2.30 and a debt-to-equity ratio of 0.07.

In other news, Director David T. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $60.02, for a total transaction of $1,800,600.00. Following the completion of the transaction, the director now owns 73,748 shares of the company’s stock, valued at $4,426,354.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 90,000 shares of company stock valued at $4,664,700 in the last three months. 1.90% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Fabrinet by 1.6% during the first quarter. BlackRock Inc. now owns 5,452,511 shares of the technology company’s stock worth $285,494,000 after purchasing an additional 85,633 shares in the last quarter. FMR LLC boosted its stake in Fabrinet by 4.0% in the first quarter. FMR LLC now owns 2,848,772 shares of the technology company’s stock worth $149,162,000 after buying an additional 108,412 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Fabrinet by 23.4% in the first quarter. JPMorgan Chase & Co. now owns 999,623 shares of the technology company’s stock worth $52,341,000 after buying an additional 189,390 shares in the last quarter. Clark Capital Management Group Inc. boosted its stake in Fabrinet by 5.5% in the first quarter. Clark Capital Management Group Inc. now owns 485,178 shares of the technology company’s stock worth $25,404,000 after buying an additional 25,295 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Fabrinet by 19.4% in the fourth quarter. Geode Capital Management LLC now owns 425,370 shares of the technology company’s stock worth $21,825,000 after buying an additional 68,991 shares in the last quarter. 94.31% of the stock is owned by institutional investors.

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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