Jabil (NYSE:JBL) Releases Quarterly Earnings Results

Jabil (NYSE:JBL) issued its quarterly earnings data on Thursday. The technology company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.11, Briefing.com reports. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same period in the prior year, the firm earned $1.68 earnings per share. The company’s revenue was down .6% on a year-over-year basis.

Jabil Stock Up 3.0 %

Shares of NYSE JBL opened at $143.69 on Friday. The stock has a 50-day moving average price of $156.14 and a two-hundred day moving average price of $137.66. Jabil has a 12 month low of $95.85 and a 12 month high of $174.80. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. The company has a market cap of $15.69 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.65 and a beta of 1.19.

Jabil Dividend Announcement

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

Insider Activity

In other news, Director John C. Plant sold 50,000 shares of Jabil 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 sale, the director now directly owns 5,900 shares of the company’s stock, valued at approximately $1,018,045. This trade represents a 89.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $151.30, for a total value of $3,026,000.00. Following the completion of the transaction, the director now directly owns 119,108 shares of the company’s stock, valued at $18,021,040.40. This represents a 14.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,400 shares of company stock worth $12,804,458. Corporate insiders own 1.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on JBL. StockNews.com cut shares of Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. UBS Group boosted their price target on Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Barclays raised their price objective on Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Stifel Nicolaus reiterated a “buy” rating and set a $160.00 target price (up from $150.00) on shares of Jabil in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group raised their price target on Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $158.83.

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).