Jabil Inc. Plans Quarterly Dividend of $0.08 (NYSE:JBL)

Jabil Inc. (NYSE:JBL) announced a quarterly dividend on Thursday, October 17th, Wall Street Journal reports. Investors of record on Friday, November 15th will be paid a dividend of 0.08 per share by the technology company on Tuesday, December 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend is Friday, November 15th.

Jabil has a dividend payout ratio of 3.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Jabil to earn $8.99 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 3.6%.

Jabil Trading Up 0.3 %

NYSE JBL traded up $0.37 during trading hours on Friday, reaching $126.29. The company had a trading volume of 1,108,659 shares, compared to its average volume of 1,475,977. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $14.33 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25. The stock has a 50-day moving average of $111.82 and a 200 day moving average of $115.62. Jabil has a 1-year low of $95.85 and a 1-year high of $156.94.

Jabil (NYSE:JBL) last issued its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.22 by $0.08. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.59 billion. During the same period in the prior year, the business posted $2.34 EPS. The business’s revenue for the quarter was down 17.7% compared to the same quarter last year. As a group, research analysts anticipate that Jabil will post 7.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on JBL shares. UBS Group dropped their price objective on Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, June 21st. Bank of America lifted their target price on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Stifel Nicolaus boosted their price target on shares of Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. lowered their price objective on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Finally, Barclays upped their target price on shares of Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.50.

Insider Activity

In other Jabil news, EVP Frederic E. Mccoy sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total transaction of $474,800.00. Following the completion of the transaction, the executive vice president now owns 108,753 shares in the company, valued at $12,908,981.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.62% of the company’s stock.

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).