Fabrinet (FN) Set to Announce Quarterly Earnings on Monday
Fabrinet (NYSE:FN) is scheduled to issue its quarterly earnings data after the market closes on Monday, November 6th. Analysts expect the company to announce earnings of $0.80 per share for the quarter. Fabrinet has set its Q1 guidance at $0.78-0.80 EPS.
Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, August 21st. The technology company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.11). The business had revenue of $370.50 million for the quarter, compared to analysts’ expectations of $363.41 million. Fabrinet had a return on equity of 15.32% and a net margin of 6.84%. The company’s revenue was up 34.0% compared to the same quarter last year. During the same period last year, the business posted $0.60 earnings per share. On average, analysts expect Fabrinet to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Fabrinet (NYSE:FN) opened at $32.25 on Friday. The company has a market cap of $1,211.79, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. Fabrinet has a one year low of $31.20 and a one year high of $49.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.80 and a current ratio of 2.57.
Fabrinet declared that its Board of Directors has approved a stock repurchase program on Monday, August 21st that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 21% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
In other Fabrinet news, CFO Toh-Seng Ng sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $39.00, for a total transaction of $877,500.00. Following the transaction, the chief financial officer now directly owns 201,749 shares of the company’s stock, valued at approximately $7,868,211. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David T. Mitchell sold 105,000 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $38.63, for a total transaction of $4,056,150.00. Following the transaction, the chief executive officer now directly owns 111,057 shares in the company, valued at $4,290,131.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 207,500 shares of company stock worth $8,034,350. Insiders own 3.30% of the company’s stock.
FN has been the topic of several analyst reports. ValuEngine raised shares of Fabrinet from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $48.00 target price on shares of Fabrinet in a research note on Friday, July 14th. Northland Securities set a $50.00 target price on shares of Fabrinet and gave the stock a “buy” rating in a research note on Tuesday, August 22nd. B. Riley reaffirmed a “buy” rating and issued a $44.75 target price on shares of Fabrinet in a research note on Friday, August 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of Fabrinet in a research note on Tuesday, September 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $50.92.
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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