Jabil (NYSE:JBL) Issues FY 2024 Earnings Guidance

Jabil (NYSE:JBL) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 8.400-8.400 for the period, compared to the consensus estimate of 8.370. The company issued revenue guidance of -. Jabil also updated its Q3 2024 guidance to 1.650-2.050 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Argus lowered shares of Jabil from a buy rating to a hold rating in a report on Tuesday, March 19th. Barclays decreased their price objective on shares of Jabil from $151.00 to $149.00 and set an overweight rating on the stock in a report on Monday, March 18th. StockNews.com raised shares of Jabil from a hold rating to a buy rating in a report on Tuesday, April 23rd. Finally, The Goldman Sachs Group increased their price objective on shares of Jabil from $141.00 to $161.00 and gave the stock a buy rating in a report on Monday, March 4th. One research 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 company. According to data from MarketBeat, the company currently has a consensus rating of Buy and a consensus target price of $144.50.

Jabil Stock Performance

Shares of NYSE:JBL opened at $118.22 on Thursday. The company has a market capitalization of $14.26 billion, a price-to-earnings ratio of 10.15, a P/E/G ratio of 1.46 and a beta of 1.42. The firm’s 50 day simple moving average is $125.94 and its 200 day simple moving average is $129.31. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.17 and a quick ratio of 0.72. Jabil has a fifty-two week low of $83.64 and a fifty-two week high of $156.94.

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

Jabil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.32 annualized dividend and a yield of 0.27%. Jabil’s dividend payout ratio (DPR) is currently 2.75%.

Insiders Place Their Bets

In other news, Chairman Mark T. Mondello sold 50,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chairman now directly owns 1,809,194 shares of the company’s stock, valued at approximately $228,121,271.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Jabil news, CEO Kenneth S. Wilson sold 15,000 shares of Jabil stock in a transaction on Monday, April 15th. The shares were sold at an average price of $134.20, for a total transaction of $2,013,000.00. Following the completion of the transaction, the chief executive officer now directly owns 339,725 shares of the company’s stock, valued at $45,591,095. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Mark T. Mondello sold 50,000 shares of Jabil stock in a transaction on Tuesday, March 19th. The stock was 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 $228,121,271.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,877 shares of company stock worth $9,824,383. Company 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).