Jabil Circuit Price Target Cut to $24.00 (JBL)
Analysts at RBC Capital lowered their price objective on shares of Jabil Circuit (NYSE:JBL) from $25.00 to $24.00 in a research report issued to clients and investors on Thursday, ARN reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s target price suggests a potential upside of 11.01% from the company’s current price.
JBL has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Jabil Circuit (NYSE:JBL) in a research note to investors on Thursday. Separately, analysts at Needham & Company upgraded shares of Jabil Circuit (NYSE:JBL) from a “buy” rating to a “strong-buy” rating in a research note to investors on Wednesday. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Jabil Circuit (NYSE:JBL) in a research note to investors on Tuesday, September 17th. They now have a $25.00 price target on the stock. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $25.28.
Jabil Circuit (NYSE:JBL) traded down 9.92% on Thursday, hitting $21.62. 12,481,346 shares of the company’s stock traded hands. Jabil Circuit has a 52-week low of $16.39 and a 52-week high of $24.32. The stock’s 50-day moving average is $23.42 and its 200-day moving average is $20.. The company has a market cap of $4.381 billion and a price-to-earnings ratio of 15.20. Jabil Circuit also saw some unusual options trading on Thursday. Investors acquired 10,119 put options on the stock. This represents an increase of 562% compared to the typical volume of 1,528 put options.
Jabil Circuit (NYSE:JBL) last announced its earnings results on Wednesday, September 25th. The company reported $0.56 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.54 by $0.02. The company had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.51 billion. During the same quarter in the prior year, the company posted $0.54 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. Analysts expect that Jabil Circuit will post $2.65 EPS for the current fiscal year.
Jabil Circuit, Inc (NYSE:JBL), is a providers of worldwide electronic manufacturing services and solutions.
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