Jabil Circuit Inc. (JBL) Receives Sector Perform Rating from RBC Capital Markets
Jabil Circuit Inc. (NYSE:JBL)‘s stock had its “sector perform” rating reiterated by analysts at RBC Capital Markets in a research report issued on Friday. They presently have a $23.00 target price on the stock, up from their prior target price of $20.00. RBC Capital Markets’ price objective suggests a potential upside of 2.68% from the company’s previous close.
A number of other analysts also recently commented on JBL. TheStreet downgraded shares of Jabil Circuit to a “sell” rating in a report on Thursday, May 26th. Goldman Sachs Group Inc. cut shares of Jabil Circuit from a “neutral” rating to a “sell” rating and cut their target price for the stock from $19.00 to $17.00 in a research report on Tuesday, June 7th. Royal Bank Of Canada restated 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 restated 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. restated a “sell” rating and set a $17.00 target price on shares of Jabil Circuit in a research report on Thursday, June 16th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $30.86.
Jabil Circuit (NYSE:JBL) traded down 1.540% during mid-day trading on Friday, reaching $22.055. 1,995,814 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $21.34 and its 200 day moving average is $19.51. Jabil Circuit has a 1-year low of $16.78 and a 1-year high of $26.00. The stock has a market capitalization of $4.17 billion, a PE ratio of 16.708 and a beta of 0.87.
Jabil Circuit (NYSE:JBL) last released its quarterly earnings data on Wednesday, September 21st. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $4.40 billion for the quarter. Jabil Circuit had a net margin of 1.38% and a return on equity of 12.21%. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. Analysts forecast that Jabil Circuit will post $2.07 earnings per share for the current fiscal year.
The business also recently declared 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 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Thursday, August 11th. Jabil Circuit’s dividend payout ratio (DPR) is 24.24%.
In other Jabil Circuit news, CEO Michael J. Loparco sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $21.90, for a total transaction of $43,800.00. Following the completion of the sale, the chief executive officer now directly owns 241,092 shares in the company, valued at $5,279,914.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael J. Loparco sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $20.23, for a total transaction of $101,150.00. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. World Asset Management Inc increased its stake in Jabil Circuit by 1.0% in the second quarter. World Asset Management Inc now owns 11,987 shares of the company’s stock valued at $221,000 after buying an additional 120 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in Jabil Circuit by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 33,007 shares of the company’s stock valued at $610,000 after buying an additional 132 shares in the last quarter. Ifrah Financial Services Inc. increased its stake in Jabil Circuit by 2.1% in the second quarter. Ifrah Financial Services Inc. now owns 17,279 shares of the company’s stock valued at $319,000 after buying an additional 360 shares in the last quarter. United Services Automobile Association increased its stake in Jabil Circuit by 2.2% in the second quarter. United Services Automobile Association now owns 29,590 shares of the company’s stock valued at $547,000 after buying an additional 630 shares in the last quarter. Finally, Eqis Capital Management Inc. increased its stake in Jabil Circuit by 4.6% in the second quarter. Eqis Capital Management Inc. now owns 15,195 shares of the company’s stock valued at $281,000 after buying an additional 673 shares in the last quarter. Institutional investors 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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