FY2019 EPS Estimates for Fabrinet (FN) Raised by Analyst

Fabrinet (NYSE:FN) – Analysts at B. Riley lifted their FY2019 earnings per share (EPS) estimates for Fabrinet in a research report issued on Tuesday, May 7th. B. Riley analyst D. Kang now anticipates that the technology company will post earnings of $3.25 per share for the year, up from their previous estimate of $3.22.

Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, May 6th. The technology company reported $0.92 EPS for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.16. Fabrinet had a return on equity of 14.91% and a net margin of 7.08%. The firm had revenue of $398.95 million during the quarter, compared to analyst estimates of $389.60 million. During the same period last year, the company earned $0.71 earnings per share. The business’s revenue for the quarter was up 20.1% on a year-over-year basis.

Other equities research analysts also recently issued research reports about the company. Needham & Company LLC increased their price objective on Fabrinet from $62.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday. ValuEngine upgraded Fabrinet from a “hold” rating to a “buy” rating in a research report on Saturday, April 13th. Zacks Investment Research upgraded Fabrinet from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research report on Friday, January 11th. Finally, Piper Jaffray Companies increased their price objective on Fabrinet from $63.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $55.17.

Shares of FN stock opened at $58.64 on Friday. The company has a current ratio of 3.19, a quick ratio of 2.26 and a debt-to-equity ratio of 0.08. Fabrinet has a 52-week low of $34.27 and a 52-week high of $62.31. The firm has a market capitalization of $2.18 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 1.48 and a beta of 0.63.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nkcfo LLC purchased a new stake in Fabrinet during the fourth quarter valued at about $30,000. Macquarie Group Ltd. purchased a new stake in Fabrinet during the fourth quarter valued at about $31,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Fabrinet in the first quarter worth about $35,000. Covington Capital Management purchased a new position in shares of Fabrinet in the fourth quarter worth about $108,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Fabrinet in the fourth quarter worth about $118,000. Institutional investors and hedge funds own 96.51% of the company’s stock.

In related news, Director Thomas F. Kelly sold 3,000 shares of the stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $54.79, for a total value of $164,370.00. Following the sale, the director now owns 41,323 shares in the company, valued at $2,264,087.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Toh-Seng Ng sold 10,000 shares of the stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $54.43, for a total value of $544,300.00. Following the completion of the sale, the chief financial officer now owns 80,266 shares in the company, valued at approximately $4,368,878.38. The disclosure for this sale can be found here. Insiders sold 132,518 shares of company stock worth $7,506,054 in the last quarter. 1.90% of the stock is currently owned by company insiders.

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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