Fabrinet (NYSE:FN) Updates Q3 Earnings Guidance

Fabrinet (NYSE:FN) issued an update on its third quarter earnings guidance on Thursday morning. 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.

Fabrinet Stock Performance

NYSE FN opened at $223.93 on Friday. The stock has a market capitalization of $8.12 billion, a price-to-earnings ratio of 25.05 and a beta of 0.89. The stock’s 50 day moving average price is $219.62 and its two-hundred day moving average price is $231.20. Fabrinet has a 52 week low of $159.69 and a 52 week high of $281.79.

Fabrinet (NYSE:FN) last released its earnings results on Monday, February 3rd. The technology company reported $2.38 EPS for the quarter, missing the consensus estimate 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 research analysts forecast that Fabrinet will post 9.4 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on FN shares. Needham & Company LLC restated a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a research note on Tuesday, February 4th. Barclays lowered their price target on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. 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 on the stock. JPMorgan Chase & Co. lowered their price target on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Finally, Rosenblatt Securities boosted their price target on Fabrinet from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $246.63.

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.