Analysts Expect Fabrinet (FN) Will Post Quarterly Sales of $389.83 Million

Equities research analysts predict that Fabrinet (NYSE:FN) will announce $389.83 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Fabrinet’s earnings, with the highest sales estimate coming in at $392.00 million and the lowest estimate coming in at $388.00 million. Fabrinet posted sales of $332.21 million in the same quarter last year, which would indicate a positive year over year growth rate of 17.3%. The business is scheduled to report its next quarterly earnings report on Monday, May 6th.

On average, analysts expect that Fabrinet will report full-year sales of $1.57 billion for the current financial year, with estimates ranging from $1.55 billion to $1.58 billion. For the next year, analysts forecast that the business will post sales of $1.72 billion, with estimates ranging from $1.63 billion to $1.82 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Fabrinet.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, February 4th. The technology company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. Fabrinet had a net margin of 7.08% and a return on equity of 14.91%. The business had revenue of $403.10 million during the quarter, compared to analyst estimates of $386.22 million. During the same period in the previous year, the business earned $0.72 EPS. Fabrinet’s revenue was up 19.6% compared to the same quarter last year.

A number of research firms recently weighed in on FN. ValuEngine upgraded shares of Fabrinet from a “hold” rating to a “buy” rating in a research note on Saturday, April 13th. Zacks Investment Research lowered shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Finally, Piper Jaffray Companies lifted their price objective on shares of Fabrinet from $63.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $54.17.

In other Fabrinet news, Director David T. Mitchell sold 30,000 shares of the firm’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $52.49, for a total value of $1,574,700.00. Following the completion of the transaction, the director now directly owns 73,748 shares of the company’s stock, valued at approximately $3,871,032.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Toh-Seng Ng sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $54.43, for a total transaction of $544,300.00. Following the completion of the transaction, the chief financial officer now directly owns 80,266 shares of the company’s stock, valued at $4,368,878.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 132,518 shares of company stock valued at $7,280,154. Insiders own 1.90% of the company’s stock.

A number of large investors have recently made changes to their positions in FN. BlackRock Inc. lifted its holdings in shares of Fabrinet by 2.7% during the 4th quarter. BlackRock Inc. now owns 5,366,878 shares of the technology company’s stock worth $275,376,000 after acquiring an additional 139,336 shares during the last quarter. FMR LLC lifted its holdings in shares of Fabrinet by 79.2% during the 4th quarter. FMR LLC now owns 2,740,360 shares of the technology company’s stock worth $140,608,000 after acquiring an additional 1,211,028 shares during the last quarter. Vanguard Group Inc lifted its holdings in shares of Fabrinet by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 2,183,069 shares of the technology company’s stock worth $100,988,000 after acquiring an additional 33,413 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Fabrinet by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,183,069 shares of the technology company’s stock worth $100,988,000 after acquiring an additional 33,413 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Fabrinet by 7.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,169,366 shares of the technology company’s stock worth $54,095,000 after acquiring an additional 77,284 shares during the last quarter. 96.96% of the stock is owned by hedge funds and other institutional investors.

Fabrinet stock traded down $0.12 during mid-day trading on Monday, reaching $60.03. The company’s stock had a trading volume of 331,207 shares, compared to its average volume of 412,351. Fabrinet has a 12-month low of $27.69 and a 12-month high of $61.18. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 1.40 and a beta of 0.58. The company has a current ratio of 3.19, a quick ratio of 2.26 and a debt-to-equity ratio of 0.08.

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.

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Earnings History and Estimates for Fabrinet (NYSE:FN)

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