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Fabrinet (FN) Stock Moves -0.03%: What You Should Know

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In the latest trading session, Fabrinet (FN - Free Report) closed at $137.82, marking a -0.03% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 1.14%, while the tech-heavy Nasdaq added 1.39%.

Prior to today's trading, shares of the company that assembles optical, electro-mechanical and electronic devices for other companies had gained 10.62% over the past month. This has outpaced the Computer and Technology sector's gain of 3.75% and the S&P 500's gain of 4.01% in that time.

Investors will be hoping for strength from Fabrinet as it approaches 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%. Meanwhile, our latest consensus estimate is calling for revenue of $652.26 million, up 15.11% from the prior-year quarter.

FN's full-year Zacks Consensus Estimates are calling for earnings of $7.48 per share and revenue of $2.63 billion. These results would represent year-over-year changes of +22.02% and +16.24%, respectively.

It is also important to note the recent changes to analyst estimates for Fabrinet. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Fabrinet is currently sporting a Zacks Rank of #3 (Hold).

Digging into valuation, Fabrinet currently has a Forward P/E ratio of 18.42. This valuation marks a premium compared to its industry's average Forward P/E of 18.19.

The Electronics - Miscellaneous Components industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 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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