Jabil (NYSE:JBL) Issues Earnings Results

Jabil (NYSE:JBL) posted its earnings results on Thursday. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.22 by $0.08, Briefing.com reports. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.59 billion. Jabil had a net margin of 4.63% and a return on equity of 40.30%. During the same period in the previous year, the firm posted $2.34 earnings per share. The company’s revenue for the quarter was down 17.7% compared to the same quarter last year.

Jabil Trading Down 3.4 %

JBL stock traded down $4.31 during midday trading on Friday, reaching $122.34. The company’s stock had a trading volume of 2,053,555 shares, compared to its average volume of 1,494,039. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 1.26. Jabil has a 52 week low of $95.85 and a 52 week high of $156.94. The business’s 50-day simple moving average is $107.42 and its 200-day simple moving average is $116.72. The stock has a market cap of $13.88 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 2.23 and a beta of 1.25.

Jabil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were given a $0.08 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.26%. Jabil’s payout ratio is 2.91%.

Insider Activity at Jabil

In related news, EVP Frederic E. Mccoy sold 1,250 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $116.42, for a total transaction of $145,525.00. Following the sale, the executive vice president now owns 112,753 shares of the company’s stock, valued at approximately $13,126,704.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Frederic E. Mccoy sold 1,250 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $116.42, for a total transaction of $145,525.00. Following the sale, the executive vice president now directly owns 112,753 shares in the company, valued at $13,126,704.26. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP May Yee Yap sold 4,274 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total transaction of $500,228.96. Following the completion of the transaction, the senior vice president now directly owns 24,829 shares of the company’s stock, valued at $2,905,986.16. The disclosure for this sale can be found here. Corporate insiders own 2.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on JBL. JPMorgan Chase & Co. cut their price objective on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Bank of America boosted their target price on shares of Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday. UBS Group lowered their price target on Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, June 21st. Barclays boosted their price objective on Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Stifel Nicolaus raised their target price on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Jabil has an average rating of “Moderate Buy” and a consensus price target of $145.75.

About Jabil

Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; 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).