Analysts Expect Fabrinet (FN) to Announce $0.72 EPS

Equities analysts expect that Fabrinet (NYSE:FN) will report $0.72 earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for Fabrinet’s earnings. The highest EPS estimate is $0.73 and the lowest is $0.71. Fabrinet posted earnings per share of $0.80 during the same quarter last year, which would suggest a negative year over year growth rate of 10%. The business is scheduled to report its next earnings results on Monday, May 14th.

On average, analysts expect that Fabrinet will report full year earnings of $2.92 per share for the current fiscal year, with EPS estimates ranging from $2.89 to $2.96. For the next year, analysts anticipate that the company will report earnings of $3.31 per share, with EPS estimates ranging from $3.25 to $3.35. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Fabrinet.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, February 5th. The technology company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. The business had revenue of $337.10 million for the quarter, compared to analysts’ expectations of $329.41 million. Fabrinet had a return on equity of 12.96% and a net margin of 6.24%. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 EPS.

Several research firms have recently weighed in on FN. ValuEngine raised Fabrinet from a “hold” rating to a “buy” rating in a report on Thursday. JPMorgan Chase & Co. cut Fabrinet from an “overweight” rating to a “neutral” rating and set a $42.00 price target on the stock. in a report on Tuesday, November 7th. Northland Securities set a $37.00 price target on Fabrinet and gave the company a “buy” rating in a report on Monday, January 29th. Needham & Company LLC lowered their price target on Fabrinet from $60.00 to $45.00 and set a “strong-buy” rating on the stock in a report on Tuesday, November 7th. Finally, Piper Jaffray Companies reissued a “buy” rating on shares of Fabrinet in a report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $41.25.

In other Fabrinet news, insider David T. Mitchell sold 50,000 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $30.93, for a total value of $1,546,500.00. Following the completion of the sale, the insider now owns 111,057 shares in the company, valued at approximately $3,434,993.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David T. Mitchell sold 69,801 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $30.02, for a total value of $2,095,426.02. Following the completion of the sale, the insider now owns 111,057 shares of the company’s stock, valued at approximately $3,333,931.14. The disclosure for this sale can be found here. Insiders sold a total of 128,401 shares of company stock valued at $3,900,098 over the last 90 days. 3.30% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. Flinton Capital Management LLC increased its stake in Fabrinet by 62.7% in the 2nd quarter. Flinton Capital Management LLC now owns 3,706 shares of the technology company’s stock worth $158,000 after buying an additional 1,428 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Fabrinet in the 3rd quarter worth $161,000. Russell Investments Group Ltd. increased its stake in Fabrinet by 139.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,821 shares of the technology company’s stock worth $179,000 after buying an additional 2,810 shares in the last quarter. Amalgamated Bank purchased a new stake in Fabrinet in the 2nd quarter worth $215,000. Finally, Miles Capital Inc. purchased a new stake in Fabrinet in the 4th quarter worth $219,000. Institutional investors and hedge funds own 96.45% of the company’s stock.

Fabrinet (NYSE:FN) traded up $0.49 during mid-day trading on Friday, reaching $29.53. The company had a trading volume of 804,330 shares, compared to its average volume of 993,075. The company has a market cap of $1,100.91, a PE ratio of 12.57, a PEG ratio of 1.16 and a beta of 0.75. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.84 and a quick ratio of 1.85. Fabrinet has a fifty-two week low of $24.02 and a fifty-two week high of $49.63.

Fabrinet announced that its board has approved a stock repurchase program on Monday, February 5th that authorizes the company to repurchase $30.00 million in shares. This repurchase authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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Fabrinet Company Profile

Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Company offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.

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