Jabil Circuit Inc. (JBL) PT Raised to $23.00 at Royal Bank Of Canada
Jabil Circuit Inc. (NYSE:JBL) had its price target lifted by equities researchers at Royal Bank Of Canada from $20.00 to $23.00 in a note issued to investors on Thursday. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential downside of 3.08% from the stock’s previous close.
A number of other equities research analysts also recently issued reports on JBL. B. Riley reaffirmed 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. TheStreet cut shares of Jabil Circuit to a “sell” rating in a research note on Thursday, May 26th. Argus reiterated a “hold” rating on shares of Jabil Circuit in a research note on Thursday, June 16th. Zacks Investment Research cut shares of Jabil Circuit from a “hold” rating to a “sell” rating in a research note on Tuesday, June 21st. Finally, Deutsche Bank AG dropped their target price on shares of Jabil Circuit from $21.00 to $18.00 and set a “hold” rating on the stock in a research note on Thursday, June 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $31.67.
Jabil Circuit (NYSE:JBL) opened at 23.73 on Thursday. The company has a 50-day moving average of $21.27 and a 200-day moving average of $19.49. The company has a market capitalization of $4.53 billion, a PE ratio of 15.13 and a beta of 0.87. Jabil Circuit has a 52 week low of $16.78 and a 52 week 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, topping the Zacks’ 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 earned $4.40 billion during the quarter. During the same period in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. On average, equities research analysts anticipate that Jabil Circuit will post $1.83 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were paid 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 currently 20.38%.
In related news, CEO Michael J. Loparco sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President William E. Peters sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 20th. The stock was 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. Corporate insiders own 2.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in Jabil Circuit during the fourth quarter worth $46,756,000. PGGM Investments raised its stake in Jabil Circuit by 2.5% in the first quarter. PGGM Investments now owns 117,746 shares of the company’s stock worth $2,269,000 after buying an additional 2,873 shares during the period. Glenmede Trust Co. NA raised its stake in Jabil Circuit by 51.7% in the first quarter. Glenmede Trust Co. NA now owns 1,409,345 shares of the company’s stock worth $27,157,000 after buying an additional 480,424 shares during the period. Aperio Group LLC raised its stake in Jabil Circuit by 47.1% in the first quarter. Aperio Group LLC now owns 55,686 shares of the company’s stock worth $1,073,000 after buying an additional 17,826 shares during the period. Finally, Ramsey Quantitative Systems raised its stake in Jabil Circuit by 5.5% in the first quarter. Ramsey Quantitative Systems now owns 27,443 shares of the company’s stock worth $529,000 after buying an additional 1,423 shares during the period. 89.92% of the stock is currently owned by institutional investors and hedge funds.
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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