Jabil (NYSE:JBL) Shares Gap Up on Earnings Beat

Jabil Inc. (NYSE:JBL)’s stock price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $139.48, but opened at $146.30. Jabil shares last traded at $145.95, with a volume of 440,800 shares traded.

The technology company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.11. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The company had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same period in the prior year, the company earned $1.68 earnings per share. The firm’s revenue was down .6% on a year-over-year basis.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil’s payout ratio is 3.07%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Barclays boosted their target price on shares of Jabil from $179.00 to $184.00 and gave the stock an “overweight” rating in a report on Friday. Stifel Nicolaus reissued a “buy” rating and set a $160.00 price objective (up from $150.00) on shares of Jabil in a research note on Thursday, December 19th. The Goldman Sachs Group raised their price objective on Jabil from $160.00 to $179.00 and gave the company a “buy” rating in a research note on Monday, February 24th. StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a research report on Friday. Finally, JPMorgan Chase & Co. raised their price target on Jabil from $172.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Jabil presently has an average rating of “Moderate Buy” and a consensus target price of $167.50.

Insider Activity

In other news, Director Christopher S. Holland sold 3,400 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $162.27, for a total value of $551,718.00. Following the transaction, the director now directly owns 12,900 shares in the company, valued at approximately $2,093,283. This represents a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John C. Plant sold 50,000 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $172.55, for a total transaction of $8,627,500.00. Following the completion of the transaction, the director now directly owns 5,900 shares in the company, valued at $1,018,045. This represents a 89.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 77,400 shares of company stock valued at $12,804,458. 1.73% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Jabil

Institutional investors have recently modified their holdings of the stock. 111 Capital bought a new position in Jabil in the fourth quarter worth approximately $940,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Jabil by 68.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,318 shares of the technology company’s stock worth $3,212,000 after buying an additional 9,039 shares during the period. NorthCrest Asset Manangement LLC increased its stake in shares of Jabil by 3.8% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 10,701 shares of the technology company’s stock valued at $1,540,000 after buying an additional 394 shares during the period. BridgePort Financial Solutions LLC bought a new stake in shares of Jabil in the fourth quarter valued at about $618,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Jabil in the fourth quarter worth about $9,123,000. 93.39% of the stock is owned by hedge funds and other institutional investors.

Jabil Trading Up 0.8 %

The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. The company has a market capitalization of $15.83 billion, a P/E ratio of 13.90, a PEG ratio of 1.65 and a beta of 1.19. The company’s fifty day simple moving average is $155.96 and its 200-day simple moving average is $137.91.

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).