Royal Bank Of Canada Raises Jabil Circuit, Inc. (JBL) Price Target to $31.00
Jabil Circuit, Inc. (NYSE:JBL) had its price objective upped by Royal Bank Of Canada from $27.00 to $31.00 in a research report report published on Thursday morning, Marketbeat.com reports. They currently have a sector perform rating on the technology company’s stock.
Other equities analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Jabil Circuit from a buy rating to a hold rating in a report on Tuesday, May 16th. Stifel Nicolaus raised their target price on shares of Jabil Circuit from $29.00 to $30.00 and gave the company a hold rating in a report on Thursday, June 15th. Needham & Company LLC upgraded shares of Jabil Circuit from a hold rating to a buy rating and set a $30.00 target price for the company in a report on Thursday, March 16th. ValuEngine upgraded shares of Jabil Circuit from a hold rating to a buy rating in a report on Friday, June 2nd. Finally, Raymond James Financial, Inc. downgraded shares of Jabil Circuit from a strong-buy rating to a market perform rating in a report on Wednesday, March 1st. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Jabil Circuit currently has a consensus rating of Hold and a consensus price target of $27.09.
Shares of Jabil Circuit (NYSE JBL) opened at 29.11 on Thursday. The stock’s 50 day moving average is $29.66 and its 200-day moving average is $26.67. Jabil Circuit has a 1-year low of $17.27 and a 1-year high of $31.70. The stock has a market cap of $5.27 billion, a PE ratio of 44.78 and a beta of 0.58.
Jabil Circuit (NYSE:JBL) last posted its earnings results on Wednesday, June 14th. The technology company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.02. Jabil Circuit had a net margin of 0.66% and a return on equity of 12.27%. The firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.40 billion. During the same period last year, the firm posted $0.17 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, analysts predict that Jabil Circuit will post $2.10 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Monday, May 15th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, May 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.10%. Jabil Circuit’s dividend payout ratio (DPR) is presently 50.00%.
In other news, CFO Forbes I. J. Alexander sold 4,341 shares of Jabil Circuit stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $30.00, for a total transaction of $130,230.00. Following the completion of the sale, the chief financial officer now directly owns 586,184 shares in the company, valued at $17,585,520. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas A. Sansone sold 25,000 shares of Jabil Circuit stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $31.25, for a total transaction of $781,250.00. Following the sale, the director now owns 176,688 shares of the company’s stock, valued at $5,521,500. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 255,341 shares of company stock valued at $7,652,012. Insiders own 2.90% of the company’s stock.
Several large investors have recently modified their holdings of JBL. ETRADE Capital Management LLC boosted its stake in Jabil Circuit by 46.7% in the third quarter. ETRADE Capital Management LLC now owns 15,026 shares of the technology company’s stock valued at $328,000 after buying an additional 4,782 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Jabil Circuit during the fourth quarter valued at about $5,195,000. Commerzbank Aktiengesellschaft FI boosted its stake in Jabil Circuit by 10.4% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 25,851 shares of the technology company’s stock valued at $612,000 after buying an additional 2,442 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Jabil Circuit by 5.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,529,340 shares of the technology company’s stock valued at $130,883,000 after buying an additional 273,598 shares in the last quarter. Finally, Aviva PLC boosted its stake in Jabil Circuit by 5.2% in the fourth quarter. Aviva PLC now owns 115,923 shares of the technology company’s stock valued at $2,745,000 after buying an additional 5,690 shares in the last quarter. Institutional investors and hedge funds own 95.40% of the company’s stock.
About Jabil Circuit
Jabil circuit, Inc provides electronic manufacturing services and solutions throughout the world. The Company operates in two segments, which include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The Company’s EMS segment is focused on leveraging information technology (IT), supply chain design and engineering, technologies centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a range of markets.
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