Yahoo Finance Fabrinet (FN) Gains As Market Dips: What You Should Know
Fabrinet (FN) closed at $94.87 in the latest trading session, marking a +0.31% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.38%. Elsewhere, the Dow lost 0.68%, while the tech-heavy Nasdaq lost 10.47%.
Prior to today's trading, shares of the company that assembles optical, electro-mechanical and electronic devices for other companies had lost 15.81% over the past month. This has lagged the Computer and Technology sector's loss of 1.96% and the S&P 500's gain of 2.61% in that time.
Investors will be hoping for strength from Fabrinet as it approaches 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.
Investors might also notice recent changes to analyst estimates for Fabrinet. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.24% lower. Fabrinet is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Fabrinet's current valuation metrics, including its Forward P/E ratio of 12.3. This represents a discount compared to its industry's average Forward P/E of 16.93.
The Electronics - Miscellaneous Components industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 182, which puts it in the bottom 28% 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Fabrinet (FN) : Free Stock Analysis Report
