We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Fabrinet (FN) Gains As Market Dips: What You Should Know
Read MoreHide Full Article
In the latest trading session, Fabrinet (FN - Free Report) closed at $130.74, marking a +1.03% move from the previous day. This move outpaced the S&P 500's daily loss of 0.08%. Meanwhile, the Dow lost 0.34%, and the Nasdaq, a tech-heavy index, added 11.55%.
Prior to today's trading, shares of the company that assembles optical, electro-mechanical and electronic devices for other companies had lost 0.64% over the past month. This has was narrower than the Computer and Technology sector's loss of 8.41% and the S&P 500's loss of 1.03% in that time.
Fabrinet will be looking to display strength as it nears its next earnings release. On that day, Fabrinet is projected to report earnings of $1.89 per share, which would represent year-over-year growth of 26%. Our most recent consensus estimate is calling for quarterly revenue of $652.26 million, up 15.11% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.48 per share and revenue of $2.63 billion, which would represent changes of +22.02% and +16.24%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Fabrinet. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Fabrinet is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Fabrinet has a Forward P/E ratio of 17.29 right now. For comparison, its industry has an average Forward P/E of 17.02, which means Fabrinet is trading at a premium to the group.
The Electronics - Miscellaneous Components industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 179, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Fabrinet (FN) Gains As Market Dips: What You Should Know
In the latest trading session, Fabrinet (FN - Free Report) closed at $130.74, marking a +1.03% move from the previous day. This move outpaced the S&P 500's daily loss of 0.08%. Meanwhile, the Dow lost 0.34%, and the Nasdaq, a tech-heavy index, added 11.55%.
Prior to today's trading, shares of the company that assembles optical, electro-mechanical and electronic devices for other companies had lost 0.64% over the past month. This has was narrower than the Computer and Technology sector's loss of 8.41% and the S&P 500's loss of 1.03% in that time.
Fabrinet will be looking to display strength as it nears its next earnings release. On that day, Fabrinet is projected to report earnings of $1.89 per share, which would represent year-over-year growth of 26%. Our most recent consensus estimate is calling for quarterly revenue of $652.26 million, up 15.11% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.48 per share and revenue of $2.63 billion, which would represent changes of +22.02% and +16.24%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Fabrinet. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Fabrinet is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Fabrinet has a Forward P/E ratio of 17.29 right now. For comparison, its industry has an average Forward P/E of 17.02, which means Fabrinet is trading at a premium to the group.
The Electronics - Miscellaneous Components industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 179, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.