ValuEngine upgraded shares of Jabil (NYSE:JBL) from a sell rating to a hold rating in a report published on Thursday.
JBL has been the subject of a number of other reports. JPMorgan Chase & Co. set a $37.00 price target on Jabil and gave the stock a buy rating in a research report on Wednesday, September 26th. TheStreet lowered Jabil from a b- rating to a c+ rating in a research note on Tuesday, October 9th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $32.33.
JBL traded up $0.32 during trading on Thursday, reaching $26.13. The company had a trading volume of 1,186,527 shares, compared to its average volume of 1,895,051. The company has a market cap of $3.99 billion, a PE ratio of 12.04 and a beta of 0.40. Jabil has a 52 week low of $23.04 and a 52 week high of $31.77. The company has a quick ratio of 0.57, a current ratio of 1.04 and a debt-to-equity ratio of 1.27.
Jabil (NYSE:JBL) last issued its quarterly earnings results on Tuesday, September 25th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.41 billion. Jabil had a return on equity of 16.56% and a net margin of 0.39%. Jabil’s revenue was up 14.9% on a year-over-year basis. During the same period last year, the company earned $0.64 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.22%. Jabil’s payout ratio is 14.75%.
In other Jabil news, President William E. Peters sold 13,915 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $29.48, for a total value of $410,214.20. Following the sale, the president now owns 511,562 shares in the company, valued at $15,080,847.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Alessandro Parimbelli sold 20,500 shares of the stock in a transaction on Thursday, October 4th. The stock was sold at an average price of $26.40, for a total value of $541,200.00. Following the completion of the sale, the chief executive officer now owns 339,811 shares in the company, valued at approximately $8,971,010.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,330 shares of company stock worth $2,227,280. Insiders own 2.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Jabil by 2.2% in the second quarter. BlackRock Inc. now owns 16,205,408 shares of the technology company’s stock worth $448,242,000 after purchasing an additional 353,927 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Jabil by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 5,958,890 shares of the technology company’s stock valued at $164,821,000 after buying an additional 42,922 shares during the period. LSV Asset Management increased its stake in shares of Jabil by 6.2% during the second quarter. LSV Asset Management now owns 5,314,744 shares of the technology company’s stock valued at $147,005,000 after buying an additional 309,412 shares during the period. Frontier Capital Management Co. LLC increased its stake in shares of Jabil by 13.5% during the third quarter. Frontier Capital Management Co. LLC now owns 2,627,577 shares of the technology company’s stock valued at $71,155,000 after buying an additional 311,905 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Jabil by 22.7% during the second quarter. Wells Fargo & Company MN now owns 2,280,837 shares of the technology company’s stock valued at $63,087,000 after buying an additional 422,627 shares during the period. Institutional investors and hedge funds own 93.20% of the company’s stock.
Jabil Company Profile
Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides electronic circuit design services, such as application-specific integrated circuit design, firmware development and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA).
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