Fabrinet (NYSE:FN) Releases Q3 Earnings Guidance

Fabrinet (NYSE:FN) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of $2.43-2.51 for the period, compared to the consensus earnings per share estimate of $2.60.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Barclays reduced their price objective on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Fox Advisors began coverage on Fabrinet in a research report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 target price on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $285.00 price target on shares of Fabrinet in a report on Friday. JPMorgan Chase & Co. lowered their target price on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Finally, B. Riley lowered shares of Fabrinet from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $246.63.

Fabrinet Trading Down 1.3 %

Shares of FN opened at $220.85 on Friday. The firm’s 50-day moving average is $219.44 and its two-hundred day moving average is $230.99. The firm has a market capitalization of $8.01 billion, a P/E ratio of 24.70 and a beta of 0.89. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.10). Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. Analysts predict that Fabrinet will post 9.4 EPS for the current year.

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.