Fabrinet (NYSE:FN) Expected to Post Earnings of $0.82 Per Share

Wall Street brokerages expect that Fabrinet (NYSE:FN) will announce $0.82 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Fabrinet’s earnings. The lowest EPS estimate is $0.81 and the highest is $0.84. Fabrinet posted earnings per share of $0.92 during the same quarter last year, which would indicate a negative year over year growth rate of 10.9%. The company is scheduled to announce its next earnings report on Monday, November 4th.

According to Zacks, analysts expect that Fabrinet will report full year earnings of $3.76 per share for the current year, with EPS estimates ranging from $3.62 to $4.05. For the next financial year, analysts anticipate that the business will report earnings of $4.38 per share, with EPS estimates ranging from $3.97 to $4.75. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Fabrinet.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, August 19th. The technology company reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.09. Fabrinet had a return on equity of 15.40% and a net margin of 7.63%. The firm had revenue of $405.10 million during the quarter, compared to the consensus estimate of $399.22 million. During the same period last year, the company earned $0.81 earnings per share. The company’s revenue for the quarter was up 17.3% on a year-over-year basis.

Several equities research analysts recently weighed in on the company. Piper Jaffray Companies decreased their price target on Fabrinet to $64.00 and set an “overweight” rating for the company in a report on Tuesday, August 20th. Zacks Investment Research downgraded Fabrinet from a “hold” rating to a “sell” rating in a report on Friday, August 23rd. Stifel Nicolaus decreased their price target on Fabrinet from $65.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. JPMorgan Chase & Co. assumed coverage on Fabrinet in a report on Monday, July 29th. They set a “neutral” rating and a $57.00 price target for the company. Finally, Northland Securities raised Fabrinet from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $44.00 to $57.00 in a report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $62.33.

In related news, CFO Toh-Seng Ng sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $53.70, for a total transaction of $268,500.00. Following the transaction, the chief financial officer now directly owns 64,963 shares of the company’s stock, valued at approximately $3,488,513.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David T. Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $52.62, for a total value of $1,578,600.00. Following the transaction, the director now directly owns 27,402 shares in the company, valued at $1,441,893.24. The disclosure for this sale can be found here. Insiders have sold a total of 100,206 shares of company stock worth $5,242,670 over the last three months. 1.90% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Fabrinet by 87.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,268 shares of the technology company’s stock valued at $63,000 after purchasing an additional 591 shares in the last quarter. USA Financial Portformulas Corp raised its position in shares of Fabrinet by 8.2% in the 2nd quarter. USA Financial Portformulas Corp now owns 3,308 shares of the technology company’s stock valued at $173,000 after purchasing an additional 251 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Fabrinet in the 2nd quarter valued at approximately $181,000. Miles Capital Inc. raised its position in shares of Fabrinet by 6.2% in the 2nd quarter. Miles Capital Inc. now owns 4,762 shares of the technology company’s stock valued at $237,000 after purchasing an additional 278 shares in the last quarter. Finally, Everence Capital Management Inc. raised its position in shares of Fabrinet by 52.4% in the 2nd quarter. Everence Capital Management Inc. now owns 7,070 shares of the technology company’s stock valued at $351,000 after purchasing an additional 2,430 shares in the last quarter. 95.26% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE FN traded up $1.31 during mid-day trading on Friday, hitting $50.00. 411,206 shares of the company were exchanged, compared to its average volume of 307,970. The company has a quick ratio of 2.33, a current ratio of 3.27 and a debt-to-equity ratio of 0.07. The stock has a 50 day simple moving average of $51.72 and a 200-day simple moving average of $52.37. Fabrinet has a 1-year low of $40.94 and a 1-year high of $62.31. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 14.93 and a beta of 1.07.

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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