Jabil Circuit, Inc. (NYSE:JBL) President William E. Peters sold 3,580 shares of the stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $28.74, for a total value of $102,889.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Jabil Circuit, Inc. (NYSE JBL) opened at 28.44 on Friday. Jabil Circuit, Inc. has a 1-year low of $20.32 and a 1-year high of $31.70. The stock has a market cap of $5.08 billion, a PE ratio of 41.22 and a beta of 0.59. The stock has a 50 day moving average price of $29.43 and a 200-day moving average price of $29.72.
Jabil Circuit (NYSE:JBL) last posted its earnings results on Wednesday, September 27th. The technology company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.86 billion. Jabil Circuit had a return on equity of 14.47% and a net margin of 0.68%. Jabil Circuit’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 earnings per share. On average, equities analysts expect that Jabil Circuit, Inc. will post $2.58 EPS for the current year.
Jabil Circuit announced that its Board of Directors has approved a stock repurchase plan on Thursday, July 20th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the technology company to buy up to 8.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be issued 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 yield of 1.13%. Jabil Circuit’s dividend payout ratio is currently 46.38%.
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Institutional investors and hedge funds have recently modified their holdings of the company. IHT Wealth Management LLC lifted its holdings in shares of Jabil Circuit by 142.6% during the 2nd quarter. IHT Wealth Management LLC now owns 359 shares of the technology company’s stock valued at $159,000 after purchasing an additional 211 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of Jabil Circuit by 68.2% during the 2nd quarter. Advisor Group Inc. now owns 5,765 shares of the technology company’s stock valued at $168,000 after purchasing an additional 2,337 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Jabil Circuit by 9.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,054 shares of the technology company’s stock valued at $177,000 after acquiring an additional 547 shares during the period. Stevens Capital Management LP acquired a new position in shares of Jabil Circuit in the 2nd quarter valued at $206,000. Finally, Bridgewater Associates LP acquired a new position in shares of Jabil Circuit in the 2nd quarter valued at $219,000. Hedge funds and other institutional investors own 92.93% of the company’s stock.
Several equities analysts recently issued reports on the company. BidaskClub upgraded Jabil Circuit from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. ValuEngine lowered Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. J P Morgan Chase & Co restated a “buy” rating and set a $40.00 price target on shares of Jabil Circuit in a research report on Thursday, September 28th. Needham & Company LLC restated a “buy” rating and set a $37.00 price target on shares of Jabil Circuit in a research report on Wednesday, September 27th. Finally, Bank of America Corporation lowered Jabil Circuit from a “buy” rating to a “neutral” rating in a research report on Monday, September 25th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $30.50.
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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