Jabil (NYSE:JBL) issued an update on its third quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.47-0.67 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.57. The company issued revenue guidance of $5.7-6.3 billion, compared to the consensus revenue estimate of $5.95 billion.Jabil also updated its Q3 2019 guidance to $0.47-0.67 EPS.
Shares of JBL traded down $0.25 during trading hours on Thursday, reaching $27.41. The stock had a trading volume of 1,600,152 shares, compared to its average volume of 1,493,758. Jabil has a 12 month low of $21.49 and a 12 month high of $31.77. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 0.93 and a beta of 0.61. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.62 and a current ratio of 1.02.
Jabil (NYSE:JBL) last announced its quarterly earnings results on Tuesday, December 18th. The technology company reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.21. Jabil had a return on equity of 19.52% and a net margin of 0.63%. The company had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.05 billion. During the same period in the prior year, the company earned $0.80 EPS. As a group, equities analysts forecast that Jabil will post 2.45 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 15th were issued a $0.08 dividend. The ex-dividend date was Thursday, February 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.17%. Jabil’s payout ratio is 14.75%.
A number of analysts recently weighed in on JBL shares. JPMorgan Chase & Co. decreased their price objective on Jabil from $37.00 to $34.00 and set a buy rating for the company in a report on Wednesday, November 14th. Citigroup decreased their price objective on Jabil to $24.00 and set a sell rating for the company in a report on Tuesday, November 27th. They noted that the move was a valuation call. ValuEngine upgraded Jabil from a sell rating to a hold rating in a report on Wednesday, November 28th. Wolfe Research started coverage on Jabil in a report on Tuesday, December 11th. They issued a market perform rating for the company. Finally, Royal Bank of Canada increased their price objective on Jabil to $30.00 and gave the company an average rating in a report on Wednesday, December 19th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and an average price target of $28.20.
In other Jabil news, CEO Michael J. Loparco sold 5,000 shares of the stock in a transaction dated Friday, January 25th. The stock was sold at an average price of $25.67, for a total transaction of $128,350.00. Following the completion of the sale, the chief executive officer now directly owns 296,943 shares in the company, valued at approximately $7,622,526.81. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas A. Sansone sold 15,000 shares of the stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $28.50, for a total value of $427,500.00. Following the sale, the director now owns 192,988 shares of the company’s stock, valued at $5,500,158. The disclosure for this sale can be found here. Insiders sold 41,022 shares of company stock valued at $1,125,766 over the last 90 days. 2.90% of the stock is currently owned by company insiders.
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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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