Jabil Circuit Inc. (JBL) Announces Quarterly Earnings Results
Jabil Circuit Inc. (NYSE:JBL) issued its earnings results on Wednesday. The company reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. The business earned $4.40 billion during the quarter. Jabil Circuit had a return on equity of 14.04% and a net margin of 1.63%. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period last year, the firm earned $0.53 earnings per share. Jabil Circuit updated its Q1 guidance to 0.54-0.74 EPS.
Shares of Jabil Circuit (NYSE:JBL) opened at 22.40 on Friday. The firm’s 50-day moving average price is $21.34 and its 200 day moving average price is $19.51. The stock has a market cap of $4.28 billion, a P/E ratio of 14.29 and a beta of 0.87. Jabil Circuit has a 1-year low of $16.78 and a 1-year high of $26.00.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, August 11th. This represents a $0.32 annualized dividend and a yield of 1.43%. Jabil Circuit’s payout ratio is presently 20.38%.
A number of equities research analysts have weighed in on JBL shares. TheStreet lowered Jabil Circuit to a “sell” rating in a research report on Thursday, May 26th. Goldman Sachs Group Inc. lowered Jabil Circuit from a “neutral” rating to a “sell” rating and decreased their target price for the company from $19.00 to $17.00 in a research report on Tuesday, June 7th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $21.00 target price on shares of Jabil Circuit in a research report on Friday, June 10th. B. Riley reaffirmed a “buy” rating and set a $26.00 target price on shares of Jabil Circuit in a research report on Monday, June 13th. Finally, Citigroup Inc. reaffirmed a “sell” rating and set a $17.00 target price on shares of Jabil Circuit in a research report on Thursday, June 16th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $31.46.
In related news, President William E. Peters sold 20,000 shares of Jabil Circuit stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $23.25, for a total value of $465,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Loparco sold 5,000 shares of Jabil Circuit stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $20.23, for a total value of $101,150.00. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JBL. State Street Corp raised its position in Jabil Circuit by 0.4% in the first quarter. State Street Corp now owns 6,957,106 shares of the company’s stock worth $134,060,000 after buying an additional 29,792 shares during the period. Stifel Financial Corp bought a new position in Jabil Circuit during the fourth quarter worth about $13,498,000. Eqis Capital Management Inc. raised its position in Jabil Circuit by 4.6% in the second quarter. Eqis Capital Management Inc. now owns 15,195 shares of the company’s stock worth $281,000 after buying an additional 673 shares during the period. Norges Bank bought a new position in Jabil Circuit during the fourth quarter worth about $46,756,000. Finally, Alpha Windward LLC raised its position in Jabil Circuit by 11.0% in the first quarter. Alpha Windward LLC now owns 20,568 shares of the company’s stock worth $396,000 after buying an additional 2,040 shares during the period. Hedge funds and other institutional investors own 89.92% of the company’s stock.
About Jabil Circuit
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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