Zacks: Brokerages Anticipate Fabrinet (FN) Will Post Earnings of $0.92 Per Share

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Brokerages expect Fabrinet (NYSE:FN) to report earnings per share (EPS) of $0.92 for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Fabrinet’s earnings. The lowest EPS estimate is $0.91 and the highest is $0.93. Fabrinet reported earnings per share of $0.72 in the same quarter last year, which indicates a positive year-over-year growth rate of 27.8%. The business is scheduled to report its next quarterly earnings results on Monday, February 4th.

On average, analysts expect that Fabrinet will report full-year earnings of $3.65 per share for the current financial year, with EPS estimates ranging from $3.59 to $3.69. For the next fiscal year, analysts expect that the company will report earnings of $3.83 per share, with EPS estimates ranging from $3.56 to $4.06. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Fabrinet.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, November 5th. The technology company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.24. Fabrinet had a return on equity of 13.53% and a net margin of 6.54%. The firm had revenue of $377.00 million for the quarter, compared to analysts’ expectations of $352.28 million. During the same period in the prior year, the firm posted $0.75 earnings per share. The firm’s quarterly revenue was up 5.5% on a year-over-year basis.

FN has been the topic of a number of research analyst reports. Zacks Investment Research raised Fabrinet from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. ValuEngine raised Fabrinet from a “sell” rating to a “hold” rating in a research report on Wednesday, August 8th. B. Riley boosted their target price on Fabrinet from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, August 16th. Needham & Company LLC lowered Fabrinet from a “strong-buy” rating to a “buy” rating and boosted their target price for the company from $45.00 to $55.00 in a research report on Tuesday, August 21st. They noted that the move was a valuation call. Finally, Piper Jaffray Companies boosted their target price on Fabrinet from $42.00 to $52.00 and gave the company an “overweight” rating in a research report on Tuesday, August 21st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $50.17.

In other news, CFO Toh-Seng Ng sold 40,000 shares of the company’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $47.78, for a total transaction of $1,911,200.00. Following the sale, the chief financial officer now owns 157,340 shares of the company’s stock, valued at $7,517,705.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rollance E. Olson sold 5,000 shares of the company’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $48.03, for a total value of $240,150.00. Following the sale, the director now directly owns 48,303 shares in the company, valued at approximately $2,319,993.09. The disclosure for this sale can be found here. Insiders have sold 165,000 shares of company stock worth $7,727,350 in the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Several institutional investors have recently bought and sold shares of FN. Canada Pension Plan Investment Board acquired a new stake in shares of Fabrinet during the third quarter worth about $3,493,000. BlackRock Inc. boosted its stake in shares of Fabrinet by 4.3% during the third quarter. BlackRock Inc. now owns 5,227,542 shares of the technology company’s stock worth $241,826,000 after buying an additional 215,696 shares during the period. Martingale Asset Management L P acquired a new stake in shares of Fabrinet during the third quarter worth about $1,135,000. PNC Financial Services Group Inc. boosted its stake in shares of Fabrinet by 578.7% during the third quarter. PNC Financial Services Group Inc. now owns 8,565 shares of the technology company’s stock worth $397,000 after buying an additional 7,303 shares during the period. Finally, Seizert Capital Partners LLC acquired a new stake in shares of Fabrinet during the third quarter worth about $1,508,000. 99.66% of the stock is currently owned by institutional investors and hedge funds.

FN traded down $0.85 during trading hours on Friday, reaching $51.16. The company’s stock had a trading volume of 390,859 shares, compared to its average volume of 440,079. The stock has a market capitalization of $1.94 billion, a PE ratio of 17.17, a P/E/G ratio of 1.45 and a beta of 0.68. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.21 and a current ratio of 3.00. Fabrinet has a fifty-two week low of $24.02 and a fifty-two week high of $54.70.

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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