Jabil Circuit, Inc. (NYSE:JBL) declared a quarterly dividend on Thursday, October 19th, RTT News reports. Stockholders of record on Wednesday, November 15th will be paid a dividend of 0.08 per share by the technology company on Friday, December 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Tuesday, November 14th.
Jabil Circuit has a payout ratio of 14.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Jabil Circuit to earn $2.42 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 13.2%.
Shares of Jabil Circuit (NYSE:JBL) traded up 1.86% during midday trading on Friday, hitting $28.44. 1,738,627 shares of the stock were exchanged. Jabil Circuit has a one year low of $20.32 and a one year high of $31.70. The stock has a market cap of $5.08 billion, a P/E ratio of 41.22 and a beta of 0.59. The stock’s 50-day moving average price is $29.30 and its 200 day moving average price is $29.71.
Jabil Circuit (NYSE:JBL) last posted its quarterly earnings data on Wednesday, September 27th. The technology company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.86 billion. Jabil Circuit had a return on equity of 14.47% and a net margin of 0.68%. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.28 EPS. On average, analysts anticipate that Jabil Circuit will post $2.58 earnings per share for the current year.
JBL has been the subject of several recent research reports. BidaskClub raised Jabil Circuit from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. ValuEngine cut Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. J P Morgan Chase & Co reissued a “buy” rating and issued a $40.00 price target on shares of Jabil Circuit in a research note on Thursday, September 28th. Needham & Company LLC reissued a “buy” rating and issued a $37.00 price target on shares of Jabil Circuit in a research note on Wednesday, September 27th. Finally, Bank of America Corporation cut Jabil Circuit from a “buy” rating to a “neutral” rating in a research note on Monday, September 25th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $30.50.
In other Jabil Circuit news, CEO Erich Hoch sold 2,500 shares of the stock in a transaction on Monday, October 16th. The stock was sold at an average price of $28.49, for a total transaction of $71,225.00. Following the completion of the transaction, the chief executive officer now directly owns 206,943 shares in the company, valued at $5,895,806.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark T. Mondello sold 30,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $31.32, for a total value of $939,600.00. Following the transaction, the chief executive officer now owns 1,877,619 shares of the company’s stock, valued at $58,807,027.08. The disclosure for this sale can be found here. Insiders sold 127,680 shares of company stock valued at $3,785,446 over the last three months. 2.90% of the stock is owned by company insiders.
Jabil Circuit declared that its Board of Directors has authorized a share repurchase plan on Thursday, July 20th that allows the company to repurchase $450.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 8.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
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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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