Jabil (NYSE:JBL) Releases Q3 Earnings Guidance

Jabil (NYSE:JBL) updated its third quarter earnings guidance on Monday. The company provided EPS guidance of $1.65-2.05 for the period, compared to the consensus EPS estimate of $1.85. The company issued revenue guidance of $6.2-6.8 billion, compared to the consensus revenue estimate of $6.53 billion. Jabil also updated its FY24 guidance to $8.40 EPS.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on JBL shares. The Goldman Sachs Group upped their price target on Jabil from $141.00 to $161.00 and gave the company a buy rating in a report on Monday, March 4th. StockNews.com upgraded Jabil from a hold rating to a buy rating in a report on Tuesday, April 23rd. Barclays decreased their price target on Jabil from $151.00 to $149.00 and set an overweight rating for the company in a research note on Monday, March 18th. Finally, Argus lowered Jabil from a buy rating to a hold rating in a research report on Tuesday, March 19th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Jabil currently has an average rating of Buy and an average target price of $144.50.

Jabil Stock Down 2.7 %

Shares of Jabil stock opened at $117.79 on Wednesday. Jabil has a twelve month low of $83.63 and a twelve month high of $156.94. The company has a current ratio of 1.17, a quick ratio of 0.72 and a debt-to-equity ratio of 1.08. The stock has a market cap of $14.21 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 1.29 and a beta of 1.42. The company has a fifty day moving average price of $126.55 and a 200 day moving average price of $129.39.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Friday, March 15th. The technology company reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.01). Jabil had a net margin of 4.70% and a return on equity of 39.47%. The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.91 billion. Equities research analysts forecast that Jabil will post 7.83 earnings per share for the current fiscal year.

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 15th will be given a $0.08 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. Jabil’s dividend payout ratio (DPR) is presently 2.75%.

Insider Buying and Selling

In other news, SVP May Yee Yap sold 7,877 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $139.65, for a total value of $1,100,023.05. Following the transaction, the senior vice president now directly owns 29,006 shares of the company’s stock, valued at $4,050,687.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Jabil news, Chairman Mark T. Mondello sold 50,000 shares of Jabil stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $126.09, for a total transaction of $6,304,500.00. Following the transaction, the chairman now directly owns 1,809,194 shares of the company’s stock, valued at approximately $228,121,271.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP May Yee Yap sold 7,877 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $139.65, for a total transaction of $1,100,023.05. Following the completion of the transaction, the senior vice president now directly owns 29,006 shares in the company, valued at $4,050,687.90. The disclosure for this sale can be found here. Insiders sold a total of 75,877 shares of company stock valued at $9,824,383 over the last ninety days. Insiders own 2.62% of the company’s stock.

Jabil Company Profile

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).