Jabil Circuit Inc. (JBL) Sees Large Volume Increase on Strong Earnings
Shares of Jabil Circuit Inc. (NYSE:JBL) saw an uptick in trading volume on Wednesday after the company announced better than expected quarterly earnings. 3,882,101 shares changed hands during trading, an increase of 66% from the previous session’s volume of 2,335,098 shares.The stock last traded at $23.73 and had previously closed at $23.16.
The company reported $0.28 earnings per share (EPS) for the quarter, beating the 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%.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.32 annualized dividend and a yield of 1.38%. Jabil Circuit’s dividend payout ratio (DPR) is 20.38%.
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Several research firms have issued reports on JBL. Bank of America Corp. set a $24.00 price objective on shares of Jabil Circuit and gave the company a “buy” rating in a research report on Tuesday. Goldman Sachs Group Inc. raised shares of Jabil Circuit from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $16.00 to $21.00 in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price objective on shares of Jabil Circuit in a research report on Tuesday. B. Riley reissued a “buy” rating and issued a $27.00 price objective (up from $22.00) on shares of Jabil Circuit in a research report on Monday. Finally, Zacks Investment Research raised shares of Jabil Circuit from a “sell” rating to a “hold” rating in a research report on Tuesday, August 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $31.42.
In other Jabil Circuit news, President William E. Peters sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $23.25, for a total transaction of $465,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael J. Loparco sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $20.23, for a total transaction of $101,150.00. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Columbia Partners L L C Investment Management raised its position in shares of Jabil Circuit by 19.6% in the first quarter. Columbia Partners L L C Investment Management now owns 39,309 shares of the company’s stock worth $757,000 after buying an additional 6,439 shares during the last quarter. BlackRock Group LTD raised its position in shares of Jabil Circuit by 3.9% in the first quarter. BlackRock Group LTD now owns 585,718 shares of the company’s stock worth $11,286,000 after buying an additional 21,997 shares during the last quarter. BlackRock Inc. raised its position in shares of Jabil Circuit by 17.9% in the first quarter. BlackRock Inc. now owns 89,153 shares of the company’s stock worth $1,718,000 after buying an additional 13,557 shares during the last quarter. Aston Asset Management LLC raised its position in shares of Jabil Circuit by 1.9% in the first quarter. Aston Asset Management LLC now owns 85,959 shares of the company’s stock worth $1,656,000 after buying an additional 1,633 shares during the last quarter. Finally, FDO Partners LLC bought a new position in shares of Jabil Circuit during the first quarter worth about $1,229,000. Institutional investors and hedge funds own 89.92% of the company’s stock.
The stock’s 50-day moving average price is $21.17 and its 200 day moving average price is $19.46. The company has a market cap of $4.53 billion, a price-to-earnings ratio of 15.13 and a beta of 0.87.
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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