Jabil Circuit Inc. (JBL) Price Target Raised to $18.00
Jabil Circuit Inc. (NYSE:JBL) had its price target raised by research analysts at Citigroup Inc. from $17.00 to $18.00 in a research report issued on Thursday, StockTargetPrices.com reports. The firm presently has a “neutral” rating on the stock. Citigroup Inc.’s target price points to a potential downside of 24.15% from the company’s previous close.
Other analysts also recently issued reports about the stock. Raymond James Financial Inc. raised shares of Jabil Circuit from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $21.00 to $26.00 in a research report on Friday, July 15th. Goldman Sachs Group Inc. raised shares of Jabil Circuit from a “sell” rating to a “neutral” rating and upped their target price for the stock from $16.00 to $21.00 in a research report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 target price on shares of Jabil Circuit in a research report on Tuesday. UBS AG reduced their target price on shares of Jabil Circuit from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, June 16th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $21.00 target price on shares of Jabil Circuit in a research report on Friday, June 10th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $31.92.
Shares of Jabil Circuit (NYSE:JBL) traded down 4.93% during mid-day trading on Thursday, reaching $22.56. 2,413,993 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $21.27 and its 200-day moving average price is $19.49. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of 14.39 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 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. The business had revenue of $4.40 billion for the quarter. Jabil Circuit had a net margin of 1.63% and a return on equity of 14.04%. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 earnings per share. Equities research analysts forecast that Jabil Circuit will post $1.83 earnings per share for the current year.
The firm also recently disclosed 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 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 presently 20.38%.
In other news, President William E. Peters sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $23.25, for a total value of $465,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Loparco sold 2,000 shares of the stock in a transaction that occurred 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 completion of 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 insiders.
Institutional investors have recently modified their holdings of the company. Quantitative Systematic Strategies LLC acquired a new position in shares of Jabil Circuit during the second quarter valued at $181,000. Calvert Investment Management Inc. acquired a new position in shares of Jabil Circuit during the second quarter valued at $201,000. LS Investment Advisors LLC boosted its position in shares of Jabil Circuit by 71.2% in the second quarter. LS Investment Advisors LLC now owns 11,551 shares of the company’s stock valued at $213,000 after buying an additional 4,802 shares during the period. World Asset Management Inc boosted its position in shares of Jabil Circuit by 1.0% in the second quarter. World Asset Management Inc now owns 11,987 shares of the company’s stock valued at $221,000 after buying an additional 120 shares during the period. Finally, LPL Financial LLC boosted its position in shares of Jabil Circuit by 22.8% in the first quarter. LPL Financial LLC now owns 11,912 shares of the company’s stock valued at $222,000 after buying an additional 2,209 shares during the period. Hedge funds and other institutional investors own 89.92% of the company’s stock.
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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