TheStreet Downgrades Jabil Circuit to Hold (JBL)
Jabil Circuit (NYSE:JBL) was downgraded by equities research analysts at TheStreet from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Stock Ratings News reports.
The analysts wrote, “Jabil Circuit (JBL) has been downgraded by TheStreet Ratings from buy to hold. The company’s strengths can be seen in multiple areas, such as its attractive valuation levels, increase in net income and notable return on equity. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow, a generally disappointing performance in the stock itself and generally higher debt management risk.”
Shares of Jabil Circuit (NYSE:JBL) traded down 2.06% during mid-day trading on Thursday, hitting $17.08. 1,056,531 shares of the company’s stock traded hands. Jabil Circuit has a 1-year low of $15.30 and a 1-year high of $24.32. The stock’s 50-day moving average is $19.03 and its 200-day moving average is $21.43. The company has a market cap of $3.497 billion and a P/E ratio of 9.43.
Jabil Circuit (NYSE:JBL) last posted its quarterly earnings results on Tuesday, December 17th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by $0.04. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the previous year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. Analysts expect that Jabil Circuit will post $1.11 EPS for the current fiscal year.
In other Jabil Circuit news, Director Martha Brooks acquired 6,500 shares of the company’s stock on the open market in a transaction dated Friday, December 20th. The stock was purchased at an average price of $16.11 per share, with a total value of $104,715.00. Following the acquisition, the director now directly owns 56,500 shares of the company’s stock, valued at approximately $910,215. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Jabil Circuit in a research note to investors on Friday, December 20th. They now have a $17.00 price target on the stock, down previously from $20.00. Separately, analysts at Scotiabank downgraded shares of Jabil Circuit to an “underperform” rating in a research note to investors on Wednesday, December 18th. Finally, analysts at Stifel Nicolaus cut their price target on shares of Jabil Circuit from $26.00 to $24.00 in a research note to investors on Wednesday, December 18th. They now have a “buy” rating on the stock. Three analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $22.31.
Jabil Circuit, Inc (NYSE:JBL), is a providers of worldwide electronic manufacturing services and solutions.
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