Fabrinet (NYSE:FN) Releases Q3 Earnings Guidance

Fabrinet (NYSE:FN) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.43-2.51 for the period, compared to the consensus estimate of $2.60.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. B. Riley downgraded shares of Fabrinet from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Fox Advisors assumed coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $280.00 price target on shares of Fabrinet in a research report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their price target on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Finally, Rosenblatt Securities restated a “buy” rating and set a $285.00 price target on shares of Fabrinet in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Fabrinet presently has an average rating of “Hold” and an average target price of $246.63.

Fabrinet Stock Performance

Shares of FN opened at $220.85 on Friday. The company has a market capitalization of $8.01 billion, a PE ratio of 24.70 and a beta of 0.89. Fabrinet has a 52 week low of $159.69 and a 52 week high of $281.79. The company’s 50 day moving average price is $219.44 and its 200 day moving average price is $230.99.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.10). Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. On average, equities analysts forecast that Fabrinet will post 9.4 earnings per share for the current fiscal year.

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 advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.