Jabil Circuit’s (JBL) Buy Rating Reiterated at Needham & Company LLC
Needham & Company LLC reiterated their buy rating on shares of Jabil Circuit Inc. (NYSE:JBL) in a research report report published on Tuesday. Needham & Company LLC currently has a $23.00 price target on the stock.
Other research analysts also recently issued reports about the company. B. Riley reissued a buy rating and issued a $22.00 price objective on shares of Jabil Circuit in a research note on Saturday, June 18th. UBS AG cut their price objective on Jabil Circuit from $22.00 to $20.00 and set a buy rating on the stock in a research note on Thursday, June 16th. Bank of America Corp. reissued a buy rating on shares of Jabil Circuit in a research note on Thursday, June 16th. Raymond James Financial Inc. reaffirmed a buy rating on shares of Jabil Circuit in a research report on Wednesday, July 27th. Finally, TheStreet raised Jabil Circuit from a hold rating to a buy rating in a research report on Thursday, September 8th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $31.46.
Shares of Jabil Circuit (NYSE:JBL) opened at 22.40 on Tuesday. The company has a market capitalization of $4.28 billion, a PE 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 firm has a 50-day moving average price of $21.34 and a 200-day moving average price of $19.51.
Jabil Circuit (NYSE:JBL) last issued its quarterly earnings data on Wednesday, September 21st. The company reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. Jabil Circuit had a return on equity of 12.21% and a net margin of 1.38%. The business had revenue of $4.40 billion for the quarter. During the same period in the previous year, the business posted $0.53 earnings per share. The firm’s revenue was down 6.0% on a year-over-year basis. Equities analysts anticipate that Jabil Circuit will post $2.07 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were paid a $0.08 dividend. 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 is 24.24%.
In other Jabil Circuit news, President William E. Peters sold 20,000 shares of the business’s 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 SEC, which is available at this link. Also, CEO Michael J. Loparco sold 2,000 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $21.90, for a total value of $43,800.00. Following the completion of the transaction, the chief executive officer now directly owns 241,092 shares in the company, valued at approximately $5,279,914.80. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the company. Northwestern Mutual Investment Management Company LLC raised its position 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 worth $610,000 after buying an additional 132 shares in the last quarter. Mason Street Advisors LLC acquired a new position in Jabil Circuit during the second quarter worth approximately $1,610,000. Calvert Investment Management Inc. acquired a new position in Jabil Circuit during the second quarter worth approximately $201,000. Walthausen & Co. LLC acquired a new position in Jabil Circuit during the second quarter worth approximately $6,436,000. Finally, Amalgamated Bank raised its position in Jabil Circuit by 8.4% in the second quarter. Amalgamated Bank now owns 25,457 shares of the company’s stock worth $532,000 after buying an additional 1,971 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors.
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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