Jabil Circuit, Inc. (JBL) Scheduled to Post Quarterly Earnings on Tuesday
Jabil Circuit, Inc. (NYSE:JBL) is scheduled to be issuing its quarterly earnings data after the market closes on Tuesday, September 19th. Analysts expect the company to announce earnings of $0.62 per share for the quarter.
Jabil Circuit (NYSE:JBL) last issued its quarterly earnings data on Wednesday, June 14th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.02. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.40 billion. Jabil Circuit had a net margin of 0.66% and a return on equity of 12.27%. Jabil Circuit’s revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company posted $0.17 earnings per share. On average, analysts expect Jabil Circuit to post $1.84 EPS for the current fiscal year and $2.07 EPS for the next fiscal year.
Jabil Circuit, Inc. (NYSE:JBL) opened at 30.72 on Friday. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 47.26 and a beta of 0.55. Jabil Circuit, Inc. has a one year low of $20.32 and a one year high of $31.70. The company’s 50-day moving average is $30.44 and its 200 day moving average is $29.43.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were issued a $0.08 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.32 annualized dividend and a dividend yield of 1.04%. Jabil Circuit’s dividend payout ratio is currently 50.00%.
Jabil Circuit announced that its board has initiated a share buyback program on Thursday, July 20th that allows the company to buyback $450.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 8.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
A number of equities research analysts have issued reports on the stock. UBS AG reiterated a “buy” rating and set a $35.00 target price (up from $30.00) on shares of Jabil Circuit in a report on Friday, June 16th. BidaskClub lowered shares of Jabil Circuit from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. J P Morgan Chase & Co assumed coverage on shares of Jabil Circuit in a report on Wednesday, August 2nd. They set an “overweight” rating and a $40.00 target price on the stock. ValuEngine upgraded shares of Jabil Circuit from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $37.00 target price on shares of Jabil Circuit in a report on Friday, September 1st. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Jabil Circuit has a consensus rating of “Buy” and an average price target of $29.31.
In other Jabil Circuit news, CEO Mark T. Mondello sold 30,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $31.32, for a total value of $939,600.00. Following the sale, the chief executive officer now directly owns 1,877,619 shares of the company’s stock, valued at approximately $58,807,027.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO William D. Muir, Jr. sold 19,866 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $29.34, for a total transaction of $582,868.44. Following the completion of the sale, the chief operating officer now directly owns 597,085 shares in the company, valued at $17,518,473.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 170,387 shares of company stock worth $5,111,014. Insiders own 2.90% of the company’s stock.
Jabil Circuit Company Profile
Jabil Inc, formerly 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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