Jabil Circuit Inc. (JBL) Releases Earnings Results, Beats Expectations By $0.03 EPS
Jabil Circuit Inc. (NYSE:JBL) released its earnings results on Wednesday. The company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. Jabil Circuit had a net margin of 1.63% and a return on equity of 14.04%.
Shares of Jabil Circuit (NYSE:JBL) traded up 2.46% during mid-day trading on Wednesday, hitting $23.73. 3,837,631 shares of the stock were exchanged. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of 15.13 and a beta of 0.87. Jabil Circuit has a 1-year low of $16.78 and a 1-year high of $26.00. The company’s 50-day moving average is $21.17 and its 200-day moving average is $19.46.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Thursday, August 11th. Jabil Circuit’s dividend payout ratio is currently 20.38%.
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In other news, CEO Michael J. Loparco sold 2,000 shares of the stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $21.90, for a total value of $43,800.00. Following the completion of the transaction, the chief executive officer now owns 241,092 shares in the company, valued at approximately $5,279,914.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President William E. Peters sold 20,000 shares of the stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $23.25, for a total transaction of $465,000.00. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in JBL. Seven Eight Capital LLC acquired a new position in shares of Jabil Circuit during the second quarter worth about $273,000. Pacer Advisors Inc. boosted its position in shares of Jabil Circuit by 463.5% in the second quarter. Pacer Advisors Inc. now owns 17,565 shares of the company’s stock worth $324,000 after buying an additional 14,448 shares in the last quarter. TFS Capital LLC acquired a new position in shares of Jabil Circuit during the second quarter worth about $351,000. Pacad Investment Ltd. acquired a new position in shares of Jabil Circuit during the second quarter worth about $414,000. Finally, First Heartland Consultants Inc. acquired a new position in shares of Jabil Circuit during the second quarter worth about $421,000. Institutional investors own 89.92% of the company’s stock.
JBL has been the subject of several research analyst reports. Raymond James Financial Inc. raised shares of Jabil Circuit from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $21.00 to $26.00 in a research report on Friday, July 15th. TheStreet raised shares of Jabil Circuit from a “hold” rating to a “buy” rating in a research report on Thursday, September 8th. Goldman Sachs Group Inc. downgraded shares of Jabil Circuit from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $19.00 to $17.00 in a research report on Tuesday, June 7th. Zacks Investment Research raised shares of Jabil Circuit from a “sell” rating to a “hold” rating in a research report on Tuesday, August 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price objective on shares of Jabil Circuit in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $31.42.
About Jabil Circuit
Jabil Circuit, Inc provides electronic manufacturing services and solutions. The Company provides electronic design, production and product management services to companies in the aerospace, automotive, computing, defense, digital home, energy, healthcare, industrial, instrumentation, lifestyles, mobility, mold, networking, packaging, peripherals, storage, telecommunications and wearable technology industries.
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