Jabil (NYSE:JBL) Shares Gap Up After Strong Earnings

Jabil Inc. (NYSE:JBL)’s stock price gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $139.48, but opened at $146.30. Jabil shares last traded at $145.95, with a volume of 440,800 shares traded.

The technology company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.11. The firm had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.40 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The company’s revenue was down .6% on a year-over-year basis. During the same period last year, the company earned $1.68 earnings per share.

Jabil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date was Tuesday, February 18th. Jabil’s payout ratio is 3.07%.

Analysts Set New Price Targets

Several analysts have commented on JBL shares. StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a research note on Friday. The Goldman Sachs Group boosted their target price on Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Stifel Nicolaus reaffirmed a “buy” rating and set a $160.00 price target (up previously from $150.00) on shares of Jabil in a report on Thursday, December 19th. Barclays increased their price objective on shares of Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Jabil from $172.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $167.50.

Insider Buying and Selling at Jabil

In other news, Director John C. Plant sold 50,000 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $172.55, for a total value of $8,627,500.00. Following the transaction, the director now owns 5,900 shares of the company’s stock, valued at $1,018,045. This trade represents a 89.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Frederic E. Mccoy sold 4,000 shares of Jabil stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $149.81, for a total value of $599,240.00. Following the transaction, the executive vice president now directly owns 138,472 shares in the company, valued at approximately $20,744,490.32. The trade was a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,400 shares of company stock valued at $12,804,458. Insiders own 1.73% of the company’s stock.

Institutional Investors Weigh In On Jabil

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JBL. Wellington Management Group LLP lifted its stake in shares of Jabil by 70,781.4% during the 4th quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company’s stock valued at $835,876,000 after buying an additional 5,800,535 shares in the last quarter. Norges Bank purchased a new position in shares of Jabil in the fourth quarter valued at about $218,430,000. Point72 Asset Management L.P. boosted its stake in shares of Jabil by 1,007.6% in the fourth quarter. Point72 Asset Management L.P. now owns 965,629 shares of the technology company’s stock worth $138,954,000 after acquiring an additional 878,444 shares during the period. Two Sigma Advisers LP raised its stake in Jabil by 406.5% during the 3rd quarter. Two Sigma Advisers LP now owns 722,800 shares of the technology company’s stock valued at $86,613,000 after purchasing an additional 580,100 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Jabil by 16,190.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 552,740 shares of the technology company’s stock worth $79,539,000 after purchasing an additional 549,347 shares in the last quarter. Institutional investors own 93.39% of the company’s stock.

Jabil Stock Up 0.8 %

The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. The company has a 50 day simple moving average of $155.96 and a two-hundred day simple moving average of $137.91. The firm has a market capitalization of $15.83 billion, a P/E ratio of 13.90, a P/E/G ratio of 1.65 and a beta of 1.19.

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).