$389.83 Million in Sales Expected for Fabrinet (FN) This Quarter

Brokerages expect Fabrinet (NYSE:FN) to announce sales of $389.83 million for the current quarter, according to Zacks Investment Research. Four analysts have provided 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 company is scheduled to report its next earnings results on Monday, May 6th.

According to Zacks, analysts expect that Fabrinet will report full year sales of $1.57 billion for the current fiscal year, with estimates ranging from $1.55 billion to $1.58 billion. For the next financial 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’ sales averages are an average based on a survey of research analysts that that provide coverage for Fabrinet.

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

Several brokerages have recently commented on FN. Zacks Investment Research downgraded Fabrinet from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a report on Thursday, January 24th. ValuEngine raised Fabrinet from a “hold” rating to a “buy” rating in a report on Saturday, April 13th. Finally, Piper Jaffray Companies upped their target price on Fabrinet from $63.00 to $67.00 and gave the company an “overweight” rating in a report 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’s stock. The stock currently has an average rating of “Buy” and an average target price of $54.17.

Shares of NYSE FN traded down $0.12 during mid-day trading on Monday, hitting $60.03. 331,207 shares of the company traded hands, compared to its average volume of 412,351. Fabrinet has a 1 year low of $27.69 and a 1 year high of $61.18. The company has a market cap 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 quick ratio of 2.26, a current ratio of 3.19 and a debt-to-equity ratio of 0.08.

In related news, Director Thomas F. Kelly sold 3,000 shares of the company’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $54.79, for a total transaction of $164,370.00. Following the transaction, the director now directly owns 41,323 shares of the company’s stock, valued at $2,264,087.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David T. Mitchell sold 30,000 shares of the company’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 transaction, the director now directly owns 73,748 shares in the company, valued at $3,871,032.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 132,518 shares of company stock valued at $7,280,154. 1.90% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. Nkcfo LLC acquired a new position in Fabrinet during the fourth quarter valued at $30,000. Macquarie Group Ltd. acquired a new position in Fabrinet during the fourth quarter valued at $31,000. Covington Capital Management acquired a new position in Fabrinet during the fourth quarter valued at $108,000. BlueMountain Capital Management LLC acquired a new position in Fabrinet during the third quarter valued at $111,000. Finally, Csenge Advisory Group acquired a new position in Fabrinet during the third quarter valued at $117,000. 96.96% of the stock is currently owned by hedge funds and other 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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