Bank of America Corporation reiterated their buy rating on shares of Jabil Circuit, Inc. (NYSE:JBL) in a research note issued to investors on Monday morning. Bank of America Corporation currently has a $34.00 target price on the technology company’s stock, up from their prior target price of $33.00.
Other equities analysts have also recently issued reports about the company. Needham & Company LLC upgraded Jabil Circuit from a hold rating to a buy rating and set a $30.00 price objective for the company in a report on Thursday, March 16th. ValuEngine upgraded Jabil Circuit from a hold rating to a buy rating in a report on Friday, June 2nd. Zacks Investment Research upgraded Jabil Circuit from a hold rating to a buy rating and set a $32.00 price objective for the company in a report on Tuesday, March 21st. BidaskClub cut Jabil Circuit from a strong-buy rating to a buy rating in a report on Saturday, June 17th. Finally, Stifel Nicolaus upped their price objective on Jabil Circuit from $23.00 to $26.00 and gave the stock a hold rating in a report on Thursday, March 16th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $27.18.
Jabil Circuit (JBL) opened at 29.36 on Monday. The company has a market capitalization of $5.32 billion, a P/E ratio of 45.17 and a beta of 0.58. Jabil Circuit has a 52-week low of $17.27 and a 52-week high of $31.70. The firm has a 50-day moving average price of $29.65 and a 200 day moving average price of $26.73.
Jabil Circuit (NYSE:JBL) last posted its quarterly earnings data on Wednesday, June 14th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. Jabil Circuit had a return on equity of 12.27% and a net margin of 0.66%. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.40 billion. During the same period in the prior year, the business earned $0.17 EPS. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, analysts predict that Jabil Circuit will post $2.10 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Monday, May 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Thursday, May 11th. Jabil Circuit’s dividend payout ratio is currently 50.00%.
In other news, CFO Forbes I. J. Alexander sold 4,341 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $30.00, for a total value of $130,230.00. Following the completion of the transaction, the chief financial officer now owns 586,184 shares of the company’s stock, valued at approximately $17,585,520. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark T. Mondello sold 20,000 shares of the stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $28.62, for a total value of $572,400.00. Following the completion of the transaction, the chief executive officer now directly owns 2,017,619 shares of the company’s stock, valued at approximately $57,744,255.78. The disclosure for this sale can be found here. Insiders sold a total of 252,986 shares of company stock valued at $7,583,128 in the last three months. Corporate insiders own 2.90% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans raised its position in shares of Jabil Circuit by 4.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 31,480 shares of the technology company’s stock valued at $745,000 after buying an additional 1,390 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of Jabil Circuit by 0.4% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 371,504 shares of the technology company’s stock valued at $8,793,000 after buying an additional 1,339 shares in the last quarter. Barings LLC raised its position in shares of Jabil Circuit by 31.3% in the fourth quarter. Barings LLC now owns 71,700 shares of the technology company’s stock valued at $1,697,000 after buying an additional 17,100 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in shares of Jabil Circuit during the fourth quarter valued at about $224,000. Finally, Guggenheim Capital LLC raised its position in shares of Jabil Circuit by 30.6% in the fourth quarter. Guggenheim Capital LLC now owns 489,367 shares of the technology company’s stock valued at $11,582,000 after buying an additional 114,779 shares in the last quarter. 95.40% of the stock is owned by hedge funds and other institutional investors.
Jabil Circuit Company Profile
Jabil circuit, Inc provides electronic manufacturing services and solutions throughout the world. The Company operates in two segments, which include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The Company’s EMS segment is focused on leveraging information technology (IT), supply chain design and engineering, technologies centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a range of markets.
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