Jabil Circuit, Inc. (NYSE:JBL) CEO Erich Hoch sold 2,680 shares of the stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $28.73, for a total value of $76,996.40. Following the completion of the transaction, the chief executive officer now directly owns 206,943 shares of the company’s stock, valued at $5,945,472.39. The sale was disclosed in a filing with the SEC, which is available through this link.
Erich Hoch also recently made the following trade(s):
- On Friday, October 20th, Erich Hoch sold 2,500 shares of Jabil Circuit stock. The stock was sold at an average price of $28.11, for a total value of $70,275.00.
- On Monday, October 16th, Erich Hoch sold 2,500 shares of Jabil Circuit stock. The stock was sold at an average price of $28.49, for a total value of $71,225.00.
- On Tuesday, July 25th, Erich Hoch sold 521 shares of Jabil Circuit stock. The stock was sold at an average price of $30.99, for a total value of $16,145.79.
Shares of Jabil Circuit, Inc. (NYSE:JBL) traded up 1.86% during midday trading on Friday, hitting $28.44. The stock had a trading volume of 1,738,627 shares. The stock has a 50-day moving average of $29.43 and a 200 day moving average of $29.72. The stock has a market cap of $5.08 billion, a PE ratio of 41.22 and a beta of 0.59. Jabil Circuit, Inc. has a 52 week low of $20.32 and a 52 week high of $31.70.
Jabil Circuit (NYSE:JBL) last released its earnings results on Wednesday, September 27th. The technology company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.86 billion. Jabil Circuit had a net margin of 0.68% and a return on equity of 14.47%. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.28 EPS. Analysts anticipate that Jabil Circuit, Inc. will post $2.58 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.13%. Jabil Circuit’s dividend payout ratio is 46.38%.
Jabil Circuit declared that its Board of Directors has authorized a share repurchase program on Thursday, July 20th that permits the company to buyback $450.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 8.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
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A number of research firms have weighed in on JBL. BidaskClub downgraded Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. J P Morgan Chase & Co began coverage on Jabil Circuit in a research report on Wednesday, August 2nd. They issued an “overweight” rating and a $40.00 target price for the company. Goldman Sachs Group, Inc. (The) downgraded Jabil Circuit from a “neutral” rating to a “sell” rating and cut their target price for the stock from $28.00 to $26.00 in a research report on Tuesday, October 10th. Citigroup Inc. restated a “sell” rating and issued a $28.00 target price on shares of Jabil Circuit in a research report on Thursday, September 28th. Finally, Needham & Company LLC restated a “buy” rating and issued a $37.00 target price on shares of Jabil Circuit in a research report on Wednesday, September 27th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $30.50.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Jabil Circuit by 10,288.7% during the first quarter. BlackRock Inc. now owns 15,301,794 shares of the technology company’s stock worth $442,528,000 after purchasing an additional 15,154,502 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Jabil Circuit by 1.0% during the second quarter. Vanguard Group Inc. now owns 13,967,548 shares of the technology company’s stock worth $407,712,000 after purchasing an additional 134,408 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Jabil Circuit by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 5,951,206 shares of the technology company’s stock worth $173,715,000 after purchasing an additional 309,380 shares in the last quarter. AJO LP boosted its position in shares of Jabil Circuit by 7,383.3% during the second quarter. AJO LP now owns 3,512,607 shares of the technology company’s stock worth $102,533,000 after purchasing an additional 3,465,668 shares in the last quarter. Finally, LSV Asset Management boosted its position in shares of Jabil Circuit by 11.8% during the second quarter. LSV Asset Management now owns 3,071,682 shares of the technology company’s stock worth $89,662,000 after purchasing an additional 323,845 shares in the last quarter. 92.93% of the stock is currently owned by institutional investors.
Jabil Circuit Company Profile
Jabil Inc, formerly Jabil Circuit, Inc, provides electronic manufacturing services and solutions throughout the world. The Company operates in two segments, which include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The Company’s EMS segment is focused on leveraging information technology (IT), supply chain design and engineering, technologies centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a range of markets.
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