Jabil Circuit Inc. (JBL) Cut to “Hold” at Needham & Company LLC
Jabil Circuit Inc. (NYSE:JBL) was downgraded by Needham & Company LLC from a “buy” rating to a “hold” rating in a report released on Thursday.
Several other analysts have also recently weighed in on JBL. B. Riley reissued a “buy” rating and set a $27.00 price target (up from $22.00) on shares of Jabil Circuit in a report on Monday. Royal Bank Of Canada reissued a “hold” rating on shares of Jabil Circuit in a report on Saturday, June 18th. TheStreet cut Jabil Circuit to a “sell” rating in a report on Thursday, May 26th. Argus restated a “hold” rating on shares of Jabil Circuit in a research note on Thursday, June 16th. Finally, Zacks Investment Research lowered Jabil Circuit from a “hold” rating to a “sell” rating in a research note on Tuesday, June 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. Jabil Circuit currently has an average rating of “Hold” and an average target price of $31.67.
Shares of Jabil Circuit (NYSE:JBL) opened at 23.73 on Thursday. Jabil Circuit has a one year low of $16.78 and a one year high of $26.00. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 15.13 and a beta of 0.87. The stock’s 50 day moving average price is $21.27 and its 200 day moving average price is $19.49.
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Jabil Circuit (NYSE:JBL) last released its quarterly earnings results on Wednesday, September 21st. The company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The business earned $4.40 billion during the quarter. Jabil Circuit had a return on equity of 14.04% and a net margin of 1.63%. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 earnings per share. Analysts expect that Jabil Circuit will post $1.83 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Thursday, August 11th. Jabil Circuit’s dividend payout ratio (DPR) is 20.38%.
In related news, CEO Michael J. Loparco sold 2,000 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $21.90, for a total transaction of $43,800.00. Following the sale, the chief executive officer now owns 241,092 shares of the company’s stock, valued at approximately $5,279,914.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President William E. Peters sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $23.25, for a total value of $465,000.00. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Investment Management Company LLC increased its stake in Jabil Circuit by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 33,007 shares of the company’s stock valued at $610,000 after buying an additional 132 shares during the period. Mason Street Advisors LLC purchased a new stake in Jabil Circuit during the second quarter valued at $1,610,000. Calvert Investment Management Inc. bought a new position in shares of Jabil Circuit during the second quarter valued at approximately $201,000. Walthausen & Co. LLC bought a new position in shares of Jabil Circuit during the second quarter valued at approximately $6,436,000. Finally, Amalgamated Bank increased its position in shares of Jabil Circuit by 8.4% in the second quarter. Amalgamated Bank now owns 25,457 shares of the company’s stock valued at $532,000 after buying an additional 1,971 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors.
Jabil Circuit Company Profile
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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