Analysts Expect Fabrinet (NYSE:FN) to Post $0.86 EPS

Wall Street brokerages predict that Fabrinet (NYSE:FN) will report earnings per share (EPS) of $0.86 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Fabrinet’s earnings, with the lowest EPS estimate coming in at $0.85 and the highest estimate coming in at $0.87. Fabrinet posted earnings of $1.00 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 14%. The company is scheduled to report its next earnings report on Monday, August 17th.

On average, analysts expect that Fabrinet will report full year earnings of $3.63 per share for the current fiscal year, with EPS estimates ranging from $3.62 to $3.65. For the next financial year, analysts anticipate that the business will post earnings of $4.03 per share, with EPS estimates ranging from $3.75 to $4.25. Zacks’ 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, May 4th. The technology company reported $0.92 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.02). The firm had revenue of $411.21 million for the quarter, compared to the consensus estimate of $414.10 million. Fabrinet had a net margin of 7.21% and a return on equity of 13.46%. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.92 earnings per share.

A number of equities analysts recently issued reports on the company. B. Riley dropped their price objective on Fabrinet from $60.00 to $59.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. JPMorgan Chase & Co. lowered their target price on shares of Fabrinet from $68.00 to $64.00 and set a “neutral” rating for the company in a research note on Tuesday, May 5th. Needham & Company LLC raised their price target on shares of Fabrinet from $70.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Piper Sandler lowered their price objective on shares of Fabrinet from $75.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, May 5th. Finally, Zacks Investment Research downgraded shares of Fabrinet from a “buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $63.44.

A number of institutional investors have recently modified their holdings of FN. Wasatch Advisors Inc. raised its holdings in shares of Fabrinet by 20.5% in the 1st quarter. Wasatch Advisors Inc. now owns 2,696,596 shares of the technology company’s stock valued at $147,126,000 after purchasing an additional 458,448 shares in the last quarter. State Street Corp increased its holdings in Fabrinet by 10.3% during the first quarter. State Street Corp now owns 1,149,532 shares of the technology company’s stock valued at $62,718,000 after buying an additional 107,115 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in Fabrinet by 8.4% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 835,126 shares of the technology company’s stock valued at $45,564,000 after buying an additional 64,955 shares during the period. Neumeier Poma Investment Counsel LLC raised its stake in Fabrinet by 8.4% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 806,969 shares of the technology company’s stock worth $44,028,000 after buying an additional 62,670 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Fabrinet by 23.0% during the first quarter. JPMorgan Chase & Co. now owns 634,083 shares of the technology company’s stock worth $34,597,000 after buying an additional 118,670 shares during the period. Institutional investors own 95.82% of the company’s stock.

Shares of NYSE FN traded up $0.15 during midday trading on Friday, hitting $59.35. The company’s stock had a trading volume of 510,715 shares, compared to its average volume of 347,365. The company has a current ratio of 3.34, a quick ratio of 2.45 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $61.76 and its two-hundred day moving average is $61.20. Fabrinet has a 12-month low of $44.00 and a 12-month high of $71.22. The firm has a market cap of $2.17 billion, a P/E ratio of 18.84, a price-to-earnings-growth ratio of 1.49 and a beta of 0.96.

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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