Fabrinet (FN) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS
Fabrinet (NYSE:FN) released its earnings data on Monday. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.32 by $0.08, Analyst Ratings Network.com reports. The company had revenue of $171.60 million for the quarter, compared to the consensus estimate of $158.60 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. Fabrinet updated its Q2 guidance to $0.40-0.42 EPS.
Fabrinet (NYSE:FN) traded up 2.45% on Monday, hitting $17.13. 221,307 shares of the company’s stock traded hands. Fabrinet has a one year low of $9.45 and a one year high of $17.50. The stock’s 50-day moving average is $16.16 and its 200-day moving average is $14.84. The company has a market cap of $593.3 million and a P/E ratio of 8.44.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Fabrinet from $17.00 to $19.00 in a research note to investors on Wednesday, October 23rd. They now have an “overweight” rating on the stock. On the ratings front, analysts at Zacks downgraded shares of Fabrinet from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, October 15th. They now have a $18.20 price target on the stock. Finally, analysts at Stifel Nicolaus upgraded shares of Fabrinet from a “hold” rating to a “buy” rating in a research note to investors on Thursday, September 26th. They now have a $20.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $18.53.
Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (NYSE:FN) of complex products, such as optical communication components, modules and sub-systems, industrial lasers and sensors.
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