Fabrinet (FN) Expected to Post Earnings of $0.72 Per Share
Equities research analysts expect Fabrinet (NYSE:FN) to report earnings of $0.72 per share for the current quarter, according to Zacks. Three analysts have made estimates for Fabrinet’s earnings, with the lowest EPS estimate coming in at $0.71 and the highest estimate coming in at $0.73. Fabrinet posted earnings per share of $0.80 during the same quarter last year, which indicates a negative year-over-year growth rate of 10%. The business is expected to issue its next quarterly 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 year, with EPS estimates ranging from $2.89 to $2.96. For the next financial year, analysts expect that the company will report earnings of $3.31 per share, with EPS estimates ranging from $3.25 to $3.35. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for Fabrinet.
Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, February 5th. The technology company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. Fabrinet had a return on equity of 12.96% and a net margin of 6.24%. The firm had revenue of $337.10 million during the quarter, compared to analysts’ expectations of $329.41 million. During the same period last year, the business posted $0.91 earnings per share. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year.
Shares of Fabrinet (NYSE:FN) traded up $0.22 during trading hours on Friday, hitting $28.88. The stock had a trading volume of 38,691 shares, compared to its average volume of 815,738. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.99 and a current ratio of 2.84. The stock has a market capitalization of $1,066.25, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.12 and a beta of 0.75. Fabrinet has a 1 year low of $24.02 and a 1 year high of $49.63.
Fabrinet announced that its board has approved a share buyback plan on Monday, February 5th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the technology company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In other news, insider David T. Mitchell sold 69,801 shares of Fabrinet stock in a transaction that occurred 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 sale, the insider now directly owns 111,057 shares of the company’s stock, valued at $3,333,931.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David T. Mitchell sold 8,600 shares of Fabrinet stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $30.02, for a total value of $258,172.00. Following the completion of the sale, the insider now directly owns 111,057 shares in the company, valued at $3,333,931.14. The disclosure for this sale can be found here. Insiders sold 128,401 shares of company stock valued at $3,900,098 over the last 90 days. Company insiders own 3.30% of the company’s stock.
Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Fabrinet by 53.7% in the third quarter. JPMorgan Chase & Co. now owns 124,233 shares of the technology company’s stock worth $4,597,000 after acquiring an additional 43,405 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of Fabrinet by 58.9% in the third quarter. Nationwide Fund Advisors now owns 62,476 shares of the technology company’s stock worth $2,315,000 after acquiring an additional 23,161 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Fabrinet by 5.0% in the second quarter. Northern Trust Corp now owns 630,019 shares of the technology company’s stock worth $26,876,000 after acquiring an additional 30,080 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Fabrinet by 0.7% in the third quarter. Dimensional Fund Advisors LP now owns 2,042,651 shares of the technology company’s stock worth $75,701,000 after acquiring an additional 14,887 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Fabrinet by 4.8% in the second quarter. Vanguard Group Inc. now owns 1,984,041 shares of the technology company’s stock worth $84,640,000 after acquiring an additional 90,477 shares during the last quarter. 94.25% of the stock is currently owned by hedge funds and other institutional investors.
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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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