Zacks: Analysts Anticipate Fabrinet (NYSE:FN) Will Post Quarterly Sales of $412.76 Million

Brokerages forecast that Fabrinet (NYSE:FN) will announce sales of $412.76 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Fabrinet’s earnings. The highest sales estimate is $416.00 million and the lowest is $410.89 million. Fabrinet posted sales of $403.08 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.4%. The firm is expected to report its next earnings report on Monday, February 3rd.

According to Zacks, analysts expect that Fabrinet will report full year sales of $1.66 billion for the current financial year, with estimates ranging from $1.64 billion to $1.68 billion. For the next financial year, analysts anticipate that the company will report sales of $1.83 billion, with estimates ranging from $1.77 billion to $1.87 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Fabrinet.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, November 4th. The technology company reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.14. Fabrinet had a net margin of 7.41% and a return on equity of 14.48%. The firm had revenue of $399.00 million during the quarter, compared to the consensus estimate of $390.30 million. During the same period last year, the firm posted $0.92 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis.

Several analysts recently commented on the stock. Northland Securities restated a “buy” rating and set a $70.00 price target on shares of Fabrinet in a research report on Thursday, November 14th. Zacks Investment Research lowered shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $70.00 target price on shares of Fabrinet in a research report on Monday, January 6th. Piper Jaffray Companies raised their target price on shares of Fabrinet from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, ValuEngine upgraded shares of Fabrinet from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Fabrinet currently has a consensus rating of “Buy” and an average price target of $66.33.

In related news, CEO Seamus Grady sold 6,082 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $57.19, for a total transaction of $347,829.58. Following the transaction, the chief executive officer now directly owns 105,597 shares in the company, valued at $6,039,092.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Homa Bahrami sold 6,547 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $60.37, for a total value of $395,242.39. Following the transaction, the director now owns 24,650 shares in the company, valued at $1,488,120.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 124,047 shares of company stock worth $7,497,064. Insiders own 1.00% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of FN. FinTrust Capital Advisors LLC purchased a new position in Fabrinet in the 3rd quarter valued at $32,000. First Interstate Bank acquired a new position in shares of Fabrinet during the third quarter worth about $76,000. Fox Run Management L.L.C. purchased a new position in Fabrinet in the third quarter worth approximately $227,000. Eqis Capital Management Inc. acquired a new position in Fabrinet during the 3rd quarter worth approximately $246,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Fabrinet during the 3rd quarter worth approximately $321,000. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Shares of FN traded down $1.60 during trading hours on Monday, hitting $64.75. The stock had a trading volume of 129,181 shares, compared to its average volume of 187,151. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.26 and a current ratio of 3.25. The firm has a 50-day moving average price of $63.41 and a 200 day moving average price of $55.93. Fabrinet has a fifty-two week low of $42.33 and a fifty-two week high of $67.17. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 1.60 and a beta of 1.08.

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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