Jabil Circuit Inc. (JBL) Price Target Increased to $18.00 by Analysts at Citigroup Inc.
Jabil Circuit Inc. (NYSE:JBL) had its price target boosted by stock analysts at Citigroup Inc. from $17.00 to $18.00 in a research note issued on Thursday. The firm presently has a “neutral” rating on the stock. Citigroup Inc.’s price target would indicate a potential downside of 24.15% from the company’s current price.
Several other analysts have also recently weighed in on the company. B. Riley reaffirmed a “buy” rating and set a $26.00 price objective on shares of Jabil Circuit in a research report on Monday, June 13th. Royal Bank Of Canada restated a “hold” rating on shares of Jabil Circuit in a research note on Saturday, June 18th. Needham & Company LLC lowered Jabil Circuit from a “buy” rating to a “hold” rating in a research report on Thursday. Raymond James Financial Inc. reaffirmed a “buy” rating on shares of Jabil Circuit in a research note on Wednesday, July 27th. Finally, Argus reiterated a “hold” rating on shares of Jabil Circuit in a report on Thursday, June 16th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Jabil Circuit currently has a consensus rating of “Hold” and a consensus price target of $31.92.
Jabil Circuit (NYSE:JBL) traded down 4.699% during trading on Thursday, hitting $22.615. 2,293,513 shares of the company’s stock traded hands. The company’s 50 day moving average is $21.27 and its 200-day moving average is $19.49. The stock has a market cap of $4.32 billion, a P/E ratio of 14.423 and a beta of 0.87. Jabil Circuit has a 12 month low of $16.78 and a 12 month high of $26.00.
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Jabil Circuit (NYSE:JBL) last issued its quarterly earnings data on Wednesday, September 21st. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. The firm earned $4.40 billion during the quarter. Jabil Circuit had a net margin of 1.63% and a return on equity of 14.04%. The business’s revenue was down 6.0% on a year-over-year basis. During the same period last year, the company posted $0.53 earnings per share. On average, analysts predict that Jabil Circuit will post $1.83 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Thursday, August 11th. Jabil Circuit’s payout ratio is 20.38%.
In other news, CEO Michael J. Loparco sold 5,000 shares of Jabil Circuit stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $20.23, for a total transaction of $101,150.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael J. Loparco sold 2,000 shares of Jabil Circuit 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 transaction, the chief executive officer now owns 241,092 shares in the company, valued at approximately $5,279,914.80. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of JBL. FMR LLC boosted its position in shares of Jabil Circuit by 57.2% in the second quarter. FMR LLC now owns 16,352,044 shares of the company’s stock valued at $302,022,000 after buying an additional 5,952,664 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new position in shares of Jabil Circuit during the second quarter valued at $48,592,000. Norges Bank acquired a new position in shares of Jabil Circuit during the fourth quarter valued at $46,756,000. Emerald Acquisition Ltd. acquired a new position in shares of Jabil Circuit during the second quarter valued at $23,781,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Jabil Circuit by 251.6% in the first quarter. JPMorgan Chase & Co. now owns 1,632,426 shares of the company’s stock valued at $31,457,000 after buying an additional 1,168,082 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.
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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