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 earnings per share (EPS) guidance of 2.200-2.270 for the period, compared to the consensus 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.

Fabrinet Trading Down 0.2 %

Shares of FN stock traded down $0.40 during trading on Wednesday, hitting $208.91. The company’s stock had a trading volume of 367,120 shares, compared to its average volume of 460,775. The company has a market cap of $7.59 billion, a PE ratio of 29.54 and a beta of 1.04. The business has a fifty day moving average of $189.76 and a 200-day moving average of $185.77. Fabrinet has a 52 week low of $90.19 and a 52 week high of $229.02.

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on FN. Northland Securities raised Fabrinet from a market perform rating to an outperform rating and increased their target price for the company from $200.00 to $220.00 in a report on Thursday, March 21st. B. Riley lowered their target price on shares of Fabrinet from $173.00 to $171.00 and set a neutral rating for the company in a research note on Tuesday. Rosenblatt Securities restated a buy rating and set a $230.00 price objective on shares of Fabrinet in a report on Tuesday, February 6th. Needham & Company LLC restated a buy rating and set a $220.00 target price on shares of Fabrinet in a report on Tuesday. Finally, JPMorgan Chase & Co. increased their target price on shares of Fabrinet from $210.00 to $212.00 and gave the company a neutral rating in a research report on Thursday, April 11th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Fabrinet has an average rating of Moderate Buy and a consensus target price of $161.00.

Insider Buying and Selling at Fabrinet

In other Fabrinet news, Director Rollance E. Olson sold 10,000 shares of the firm’s stock in a transaction 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 owns 25,981 shares of the company’s stock, valued at $5,339,615.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.51% of the stock is currently owned by 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 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.