Jabil (NYSE:JBL) Issues Earnings Results, Beats Estimates By $0.08 EPS

Jabil (NYSE:JBL) issued its quarterly earnings data on Thursday. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.08, Briefing.com reports. Jabil had a net margin of 4.63% and a return on equity of 40.30%. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.59 billion. During the same quarter last year, the firm earned $2.34 earnings per share. The company’s revenue for the quarter was down 17.7% on a year-over-year basis.

Jabil Stock Performance

NYSE JBL opened at $122.31 on Friday. The company’s fifty day moving average is $107.42 and its two-hundred day moving average is $116.72. Jabil has a 52-week low of $95.85 and a 52-week high of $156.94. 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 firm has a market capitalization of $13.88 billion, a price-to-earnings ratio of 11.13, a P/E/G ratio of 2.23 and a beta of 1.25.

Jabil Announces Dividend

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

Insider Activity at Jabil

In other Jabil news, EVP Frederic E. Mccoy sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $116.42, for a total value of $145,525.00. Following the completion of 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 through this hyperlink. In other news, EVP Frederic E. Mccoy sold 1,250 shares of the stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP May Yee Yap sold 4,274 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total transaction of $500,228.96. Following 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 Ratings Changes

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

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).