Fabrinet (NYSE:FN) Issues Q3 Earnings Guidance

Fabrinet (NYSE:FN - Get Free Report) issued an update on its third quarter earnings guidance on Thursday morning. The company provided EPS guidance of $2.43-2.51 for the period, compared to the consensus EPS estimate of $2.60.

Fabrinet Trading Up 9.5 %

Shares of NYSE:FN traded up $19.25 during mid-day trading on Thursday, reaching $221.13. The stock had a trading volume of 1,212,882 shares, compared to its average volume of 759,349. The firm has a market cap of $8.02 billion, a PE ratio of 24.66 and a beta of 0.89. The firm has a 50 day simple moving average of $219.55 and a two-hundred day simple moving average of $231.25. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last posted 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 net margin of 10.44% and a return on equity of 18.48%. On average, equities analysts anticipate that Fabrinet will post 9.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FN has been the topic of several recent research reports. B. Riley downgraded Fabrinet from a "neutral" rating to a "sell" rating and dropped their price target for the company from $194.00 to $178.00 in a research note on Wednesday, November 20th. Fox Advisors began coverage on Fabrinet in a research report on Tuesday, February 18th. They set an "overweight" rating and a $270.00 price target for the company. Barclays lowered their price objective on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Rosenblatt Securities raised their target price on shares of Fabrinet from $280.00 to $285.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. lowered their price target 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. One equities research 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, Fabrinet has an average rating of "Hold" and a consensus target price of $246.63.

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Fabrinet Company Profile

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.

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