Jabil Inc. (NYSE:JBL) to Issue $0.08 Quarterly Dividend

Jabil Inc. (NYSE:JBL) declared a quarterly dividend on Friday, July 19th, Wall Street Journal reports. Investors of record on Thursday, August 15th will be given a dividend of 0.08 per share by the technology company on Wednesday, September 4th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date is Thursday, August 15th.

Jabil has a dividend payout ratio of 3.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Jabil to earn $8.68 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 3.7%.

Jabil Stock Down 1.5 %

JBL stock traded down $1.68 during mid-day trading on Friday, reaching $110.54. The company had a trading volume of 1,087,882 shares, compared to its average volume of 1,462,499. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.74. The stock has a 50 day simple moving average of $115.76 and a two-hundred day simple moving average of $126.18. The company has a market capitalization of $12.54 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 2.05 and a beta of 1.27. Jabil has a 52 week low of $100.18 and a 52 week high of $156.94.

Jabil (NYSE:JBL) last posted its quarterly earnings results on Thursday, June 20th. The technology company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.53 billion. During the same period last year, the company earned $1.85 earnings per share. The business’s revenue was down 20.2% compared to the same quarter last year. As a group, equities analysts predict that Jabil will post 7.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on JBL shares. Bank of America cut their price objective on Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a research report on Friday, June 21st. UBS Group dropped their price target on Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, June 21st. StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Barclays dropped their price objective on Jabil from $149.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Finally, JPMorgan Chase & Co. decreased their price target on Jabil from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, June 17th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $142.63.

Insider Buying and Selling

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

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).