Wall Street analysts expect Jabil Inc (NYSE:JBL) to post earnings of $0.78 per share for the current quarter, according to Zacks. Four analysts have made estimates for Jabil’s earnings. Jabil posted earnings per share of $0.69 in the same quarter last year, which suggests a positive year-over-year growth rate of 13%. The firm is scheduled to report its next quarterly earnings results on Thursday, December 21st.
According to Zacks, analysts expect that Jabil will report full year earnings of $2.57 per share for the current year, with EPS estimates ranging from $2.55 to $2.58. For the next financial year, analysts expect that the firm will report earnings of $2.94 per share, with EPS estimates ranging from $2.87 to $3.01. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Jabil.
Jabil (NYSE:JBL) last announced its quarterly earnings data on Wednesday, September 27th. The technology company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. Jabil had a net margin of 0.92% and a return on equity of 7.83%. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same quarter last year, the business posted $0.28 EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis.
JBL has been the subject of several research analyst reports. ValuEngine raised shares of Jabil from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $37.00 target price on shares of Jabil in a research note on Friday, September 1st. Citigroup Inc. reaffirmed a “sell” rating and set a $28.00 target price on shares of Jabil in a research note on Thursday, September 28th. Stifel Nicolaus reaffirmed a “hold” rating and set a $30.00 target price on shares of Jabil in a research note on Thursday, September 28th. Finally, Zacks Investment Research raised shares of Jabil from a “hold” rating to a “strong-buy” rating and set a $34.00 target price for the company in a research note on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Jabil has an average rating of “Hold” and an average price target of $30.50.
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Shares of Jabil (NYSE:JBL) traded up 1.86% during midday trading on Friday, reaching $28.44. 1,738,314 shares of the company were exchanged. Jabil has a 52 week low of $20.32 and a 52 week high of $31.70. The firm has a 50-day moving average of $29.43 and a 200 day moving average of $29.72. The firm has a market capitalization of $5.08 billion, a P/E ratio of 41.22 and a beta of 0.59.
The firm 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 is Tuesday, November 14th. This represents a $0.32 annualized dividend and a dividend yield of 1.13%. Jabil’s dividend payout ratio is presently 46.38%.
Jabil announced that its Board of Directors has initiated a stock buyback program on Thursday, July 20th that allows the company to buyback $450.00 million in outstanding shares. This buyback authorization allows the technology company to buy up to 8.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.
In related news, CEO Mark T. Mondello sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $31.32, for a total value of $939,600.00. Following the sale, the chief executive officer now owns 1,877,619 shares of the company’s stock, valued at $58,807,027.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Erich Hoch sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $28.49, for a total transaction of $71,225.00. Following the completion of the sale, the chief executive officer now directly owns 206,943 shares in the company, valued at approximately $5,895,806.07. The disclosure for this sale can be found here. Insiders have sold 127,680 shares of company stock worth $3,785,446 in the last three months. Corporate insiders own 2.90% of the company’s stock.
A number of large investors have recently modified their holdings of JBL. BlackRock Inc. raised its holdings in Jabil by 10,288.7% in the first quarter. BlackRock Inc. now owns 15,301,794 shares of the technology company’s stock valued at $442,528,000 after acquiring an additional 15,154,502 shares in the last quarter. AJO LP raised its holdings in Jabil by 7,383.3% in the second quarter. AJO LP now owns 3,512,607 shares of the technology company’s stock valued at $102,533,000 after acquiring an additional 3,465,668 shares in the last quarter. Vanguard Group Inc. raised its holdings in Jabil by 7.0% in the first quarter. Vanguard Group Inc. now owns 13,833,140 shares of the technology company’s stock valued at $400,053,000 after acquiring an additional 901,400 shares in the last quarter. Federated Investors Inc. PA raised its holdings in Jabil by 495.2% in the second quarter. Federated Investors Inc. PA now owns 589,213 shares of the technology company’s stock valued at $17,199,000 after acquiring an additional 490,215 shares in the last quarter. Finally, LSV Asset Management raised its holdings in Jabil by 11.8% in the second quarter. LSV Asset Management now owns 3,071,682 shares of the technology company’s stock valued at $89,662,000 after acquiring an additional 323,845 shares in the last quarter. 92.93% of the stock is currently owned by hedge funds and other institutional investors.
Jabil 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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