Fabrinet (FN) Dips More Than Broader Markets: What You Should Know
Fabrinet (FN) closed the most recent trading day at $92.17, moving -2% from the previous trading session. This change lagged the S&P 500's 1.16% loss on the day. Meanwhile, the Dow lost 1.08%, and the Nasdaq, a tech-heavy index, lost 7.95%.
Heading into today, shares of the company that assembles optical, electro-mechanical and electronic devices for other companies had lost 19.17% over the past month, lagging the Computer and Technology sector's loss of 0.03% and the S&P 500's gain of 1.53% in that time.
Fabrinet will be looking to display strength as it nears its next earnings release, which is expected to be May 8, 2023. The company is expected to report EPS of $1.89, up 26% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $650.88 million, up 15.32% from the year-ago period.
FN's full-year Zacks Consensus Estimates are calling for earnings of $7.69 per share and revenue of $2.64 billion. These results would represent year-over-year changes of +25.45% and +16.89%, respectively.
Any recent changes to analyst estimates for Fabrinet should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.24% lower. Fabrinet currently has a Zacks Rank of #3 (Hold).
Investors should also note Fabrinet's current valuation metrics, including its Forward P/E ratio of 12.23. For comparison, its industry has an average Forward P/E of 18.62, which means Fabrinet is trading at a discount to the group.
The Electronics - Miscellaneous Components industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 158, putting it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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Fabrinet (FN) : Free Stock Analysis Report
