Scotiabank Lowers Jabil Circuit Price Target to $26.10 (JBL)
Investment analysts at Scotiabank reduced their price target on shares of Jabil Circuit (NYSE:JBL) from $27.80 to $26.10 in a note issued to investors on Thursday, American Banking & Market News reports. Scotiabank’s price objective points to a potential upside of 20.72% from the stock’s previous close.
Jabil Circuit (NYSE:JBL) traded down 9.92% during mid-day trading on Thursday, hitting $21.62. 12,480,034 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 has a 50-day moving average of $23.42 and a 200-day moving average of $20.. The company has a market cap of $4.381 billion and a price-to-earnings ratio of 15.20. Jabil Circuit also was the recipient of some unusual options trading on Thursday. Stock investors bought 10,119 put options on the company. This represents an increase of approximately 562% compared to the average volume of 1,528 put options.
Jabil Circuit (NYSE:JBL) last posted its quarterly earnings results on Wednesday, September 25th. The company reported $0.56 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.54 earnings per share. Jabil Circuit’s revenue was up 11.0% compared to the same quarter last year. On average, analysts predict that Jabil Circuit will post $2.65 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital cut their price target on shares of Jabil Circuit (NYSE:JBL) from $25.00 to $24.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Jabil Circuit (NYSE:JBL) in a research note to investors on Thursday. Finally, 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. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Jabil Circuit has an average rating of “Buy” and a consensus price target of $25.28.
Jabil Circuit, Inc (NYSE:JBL), is a providers of worldwide electronic manufacturing services and solutions.
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