Jabil Circuit Inc. (JBL) Issues Q1 Earnings Guidance
Jabil Circuit Inc. (NYSE:JBL) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided EPS guidance of 0.54-0.74 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.61. The company issued revenue guidance of 4800-5000, compared to the consensus revenue estimate of $4.88 billion.
Jabil Circuit Inc. (NYSE:JBL) opened at 23.73 on Thursday. Jabil Circuit Inc. has a 52 week low of $16.78 and a 52 week high of $26.00. The stock’s 50 day moving average is $21.27 and its 200-day moving average is $19.49. The stock has a market capitalization of $4.53 billion, a PE ratio of 15.13 and a beta of 0.87.
Jabil Circuit (NYSE:JBL) last announced its quarterly earnings data on Wednesday, September 21st. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Jabil Circuit had a net margin of 1.63% and a return on equity of 14.04%. The business earned $4.40 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. Equities research analysts forecast that Jabil Circuit Inc. will post $1.83 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Thursday, August 11th. Jabil Circuit’s dividend payout ratio is presently 20.38%.
JBL has been the subject of a number of recent research reports. Raymond James Financial Inc. raised shares of Jabil Circuit from an outperform rating to a strong-buy rating and boosted their price objective for the company from $21.00 to $26.00 in a research report on Friday, July 15th. TheStreet raised shares of Jabil Circuit from a hold rating to a buy rating in a research report on Thursday, September 8th. Goldman Sachs Group Inc. downgraded shares of Jabil Circuit from a neutral rating to a sell rating and lowered their price objective for the company from $19.00 to $17.00 in a research report on Tuesday, June 7th. Zacks Investment Research raised shares of Jabil Circuit from a sell rating to a hold rating in a research report on Tuesday, August 16th. Finally, Bank of America Corp. set a $24.00 price objective on shares of Jabil Circuit and gave the company a buy rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $31.42.
In related news, President William E. Peters sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $23.25, for a total value of $465,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Loparco sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $22.90, for a total transaction of $45,800.00. Following the completion of the sale, the chief executive officer now owns 239,092 shares of the company’s stock, valued at approximately $5,475,206.80. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Highbridge Capital Management LLC purchased a new stake in shares of Jabil Circuit during the second quarter valued at approximately $6,598,000. Paloma Partners Management Co increased its stake in shares of Jabil Circuit by 449.3% in the second quarter. Paloma Partners Management Co now owns 107,517 shares of the company’s stock valued at $1,986,000 after buying an additional 87,943 shares during the period. Guggenheim Capital LLC increased its stake in shares of Jabil Circuit by 15.2% in the second quarter. Guggenheim Capital LLC now owns 324,548 shares of the company’s stock valued at $5,994,000 after buying an additional 42,756 shares during the period. Seven Eight Capital LLC purchased a new stake in shares of Jabil Circuit during the second quarter valued at approximately $273,000. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Jabil Circuit by 1.1% in the second quarter. Parametric Portfolio Associates LLC now owns 704,852 shares of the company’s stock valued at $13,019,000 after buying an additional 7,860 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.
Jabil Circuit Company Profile
Jabil Circuit, Inc provides electronic manufacturing services and solutions. The Company provides electronic design, production and product management services to companies in the aerospace, automotive, computing, defense, digital home, energy, healthcare, industrial, instrumentation, lifestyles, mobility, mold, networking, packaging, peripherals, storage, telecommunications and wearable technology industries.
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