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Fabrinet (FN) Gains But Lags Market: What You Should Know
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In the latest trading session, Fabrinet (FN - Free Report) closed at $132.90, marking a +0.94% move from the previous day. The stock lagged the S&P 500's daily gain of 1.05%. At the same time, the Dow added 0.02%, and the tech-heavy Nasdaq gained 9.7%.
Heading into today, shares of the company that assembles optical, electro-mechanical and electronic devices for other companies had gained 0.67% over the past month, lagging the Computer and Technology sector's gain of 11.44% and the S&P 500's gain of 6.27% in that time.
Wall Street will be looking for positivity from Fabrinet as it approaches its next earnings report date. This is expected to be February 6, 2023. In that report, analysts expect Fabrinet to post earnings of $1.89 per share. This would mark 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 $7.47 per share and revenue of $2.63 billion. These results would represent year-over-year changes of +21.86% and +16.24%, 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 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.
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. The Zacks Consensus EPS estimate has moved 0.2% lower within the past month. Fabrinet is currently a Zacks Rank #3 (Hold).
Digging into valuation, Fabrinet currently has a Forward P/E ratio of 17.63. For comparison, its industry has an average Forward P/E of 17.84, 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 industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Gains But Lags Market: What You Should Know
In the latest trading session, Fabrinet (FN - Free Report) closed at $132.90, marking a +0.94% move from the previous day. The stock lagged the S&P 500's daily gain of 1.05%. At the same time, the Dow added 0.02%, and the tech-heavy Nasdaq gained 9.7%.
Heading into today, shares of the company that assembles optical, electro-mechanical and electronic devices for other companies had gained 0.67% over the past month, lagging the Computer and Technology sector's gain of 11.44% and the S&P 500's gain of 6.27% in that time.
Wall Street will be looking for positivity from Fabrinet as it approaches its next earnings report date. This is expected to be February 6, 2023. In that report, analysts expect Fabrinet to post earnings of $1.89 per share. This would mark 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 $7.47 per share and revenue of $2.63 billion. These results would represent year-over-year changes of +21.86% and +16.24%, 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 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.
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. The Zacks Consensus EPS estimate has moved 0.2% lower within the past month. Fabrinet is currently a Zacks Rank #3 (Hold).
Digging into valuation, Fabrinet currently has a Forward P/E ratio of 17.63. For comparison, its industry has an average Forward P/E of 17.84, 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 industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.