Fabrinet (NYSE:FN) Issues Q4 2024 Earnings Guidance

Fabrinet (NYSE:FN) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided EPS guidance of 2.200-2.270 for the period, compared to the consensus EPS estimate of 2.170. The company issued revenue guidance of $720.0 million-$740.0 million, compared to the consensus revenue estimate of $736.5 million. Fabrinet also updated its Q4 guidance to $2.20-2.27 EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Rosenblatt Securities reaffirmed a buy rating and issued a $230.00 price target on shares of Fabrinet in a report on Tuesday, February 6th. JPMorgan Chase & Co. upped their target price on shares of Fabrinet from $210.00 to $212.00 and gave the company a neutral rating in a report on Thursday, April 11th. Northland Securities upgraded shares of Fabrinet from a market perform rating to an outperform rating and lifted their price target for the stock from $200.00 to $220.00 in a research note on Thursday, March 21st. B. Riley decreased their price objective on shares of Fabrinet from $173.00 to $171.00 and set a neutral rating for the company in a research note on Tuesday. Finally, Needham & Company LLC reaffirmed a buy rating and set a $220.00 price objective on shares of Fabrinet in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Fabrinet has an average rating of Moderate Buy and an average price target of $161.00.

Fabrinet Stock Performance

Shares of FN opened at $211.44 on Thursday. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 30.55 and a beta of 1.04. Fabrinet has a 1 year low of $90.19 and a 1 year high of $229.02. The company’s 50 day simple moving average is $189.91 and its 200 day simple moving average is $185.95.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, February 5th. The technology company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.05. The firm had revenue of $712.69 million during the quarter, compared to analysts’ expectations of $699.76 million. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. Equities analysts expect that Fabrinet will post 7.59 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Rollance E. Olson sold 10,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the completion of the transaction, the director now directly owns 25,981 shares in the company, valued at approximately $5,339,615.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.51% of the company’s stock.

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 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.