Equities research analysts predict that Fabrinet (NYSE:FN) will announce $487.86 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Fabrinet's earnings, with estimates ranging from $485.00 million to $491.00 million. Fabrinet posted sales of $405.11 million during the same quarter last year, which suggests a positive year over year growth rate of 20.4%. The company is scheduled to announce its next earnings report on Monday, August 16th.
According to Zacks, analysts expect that Fabrinet will report full-year sales of $1.86 billion for the current fiscal year, with estimates ranging from $1.85 billion to $1.86 billion. For the next fiscal year, analysts forecast that the business will report sales of $2.04 billion, with estimates ranging from $2.02 billion to $2.06 billion. Zacks Investment Research's sales averages are a mean average based on a survey of sell-side research analysts that follow Fabrinet.
Fabrinet (NYSE:FN) last issued its quarterly earnings data on Sunday, May 2nd. The technology company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.07. The firm had revenue of $479.32 million for the quarter, compared to analyst estimates of $467.24 million. Fabrinet had a net margin of 7.55% and a return on equity of 13.78%. Fabrinet's revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 EPS.
Several equities analysts have weighed in on the company. Needham & Company LLC lifted their target price on Fabrinet from $100.00 to $115.00 and gave the company a "buy" rating in a research report on Monday. MKM Partners assumed coverage on Fabrinet in a research report on Wednesday. They issued a "neutral" rating and a $100.00 target price for the company. Zacks Investment Research downgraded Fabrinet from a "buy" rating to a "hold" rating in a research report on Tuesday, April 6th. B. Riley lifted their target price on Fabrinet from $75.00 to $79.00 and gave the company a "neutral" rating in a research report on Tuesday, May 4th. They noted that the move was a valuation call. Finally, Royal Bank of Canada boosted their price objective on Fabrinet from $50.00 to $53.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 28th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of "Hold" and a consensus price target of $81.89.
A number of hedge funds have recently bought and sold shares of FN. Eaton Vance Management purchased a new stake in Fabrinet during the first quarter worth approximately $30,000. Vantage Consulting Group Inc purchased a new stake in Fabrinet in the fourth quarter valued at approximately $33,000. McIlrath & Eck LLC purchased a new stake in Fabrinet in the first quarter valued at approximately $33,000. FORA Capital LLC purchased a new stake in Fabrinet in the first quarter valued at approximately $50,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Fabrinet in the first quarter valued at approximately $75,000. Hedge funds and other institutional investors own 96.92% of the company's stock.
Shares of FN opened at $93.95 on Thursday. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 26.32 and a beta of 1.01. Fabrinet has a 12-month low of $58.85 and a 12-month high of $97.04. The firm has a 50-day moving average of $91.20. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.46 and a current ratio of 3.43.
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.
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