Jabil (NYSE:JBL) Releases FY 2024 Earnings Guidance

Jabil (NYSE:JBL) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 8.400-8.400 for the period, compared to the consensus estimate of 8.370. The company issued revenue guidance of -. Jabil also updated its Q3 2024 guidance to 1.650-2.050 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Barclays decreased their price objective on shares of Jabil from $151.00 to $149.00 and set an overweight rating on the stock in a report on Monday, March 18th. StockNews.com raised shares of Jabil from a hold rating to a buy rating in a report on Tuesday, April 23rd. The Goldman Sachs Group upped their target price on shares of Jabil from $141.00 to $161.00 and gave the company a buy rating in a research report on Monday, March 4th. Finally, Argus downgraded shares of Jabil from a buy rating to a hold rating in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Jabil has a consensus rating of Buy and a consensus target price of $144.50.

Jabil Price Performance

NYSE JBL opened at $118.27 on Wednesday. The business has a 50 day simple moving average of $126.55 and a 200 day simple moving average of $129.39. Jabil has a 52-week low of $83.64 and a 52-week high of $156.94. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.72 and a current ratio of 1.17. The stock has a market cap of $14.26 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 1.29 and a beta of 1.42.

Jabil (NYSE:JBL) last released its earnings results on Friday, March 15th. The technology company reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.01). Jabil had a net margin of 4.70% and a return on equity of 39.47%. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.91 billion. Analysts anticipate that Jabil will post 7.83 earnings per share for the current fiscal year.

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Wednesday, May 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. Jabil’s dividend payout ratio is presently 2.75%.

Insider Activity at Jabil

In other Jabil news, SVP May Yee Yap sold 7,877 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $139.65, for a total transaction of $1,100,023.05. Following the completion of the sale, the senior vice president now owns 29,006 shares of the company’s stock, valued at approximately $4,050,687.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Gerald Creadon sold 3,000 shares of Jabil stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $135.62, for a total transaction of $406,860.00. Following the completion of the sale, the executive vice president now owns 65,434 shares of the company’s stock, valued at $8,874,159.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP May Yee Yap sold 7,877 shares of Jabil stock in a transaction on Monday, April 8th. The stock was sold at an average price of $139.65, for a total value of $1,100,023.05. Following the sale, the senior vice president now directly owns 29,006 shares of the company’s stock, valued at approximately $4,050,687.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,877 shares of company stock valued at $9,824,383. 2.62% of the stock is owned by corporate insiders.

Jabil Company Profile

Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; electronic circuit design services, such as application-specific integrated circuit design, firmware development, and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA).