Jabil Circuit Inc. (JBL) Rating Lowered to Hold at Standpoint Research
Jabil Circuit Inc. (NYSE:JBL) was downgraded by equities research analysts at Standpoint Research from a “buy” rating to a “hold” rating in a research report issued on Thursday. They currently have a $26.00 price target on the stock. Standpoint Research’s price objective indicates a potential upside of 9.57% from the company’s current price.
Several other equities analysts have also commented on JBL. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price target on shares of Jabil Circuit in a research note on Tuesday. Goldman Sachs Group Inc. lowered shares of Jabil Circuit from a “neutral” rating to a “sell” rating and dropped their price target for the company from $19.00 to $17.00 in a research note on Tuesday, June 7th. Bank of America Corp. set a $24.00 price target on shares of Jabil Circuit and gave the company a “buy” rating in a research note on Tuesday. TheStreet upgraded shares of Jabil Circuit from a “hold” rating to a “buy” rating in a research note on Thursday, September 8th. Finally, UBS AG dropped their price target on shares of Jabil Circuit from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, June 16th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $31.46.
Jabil Circuit (NYSE:JBL) traded down 5.48% during trading on Thursday, hitting $22.43. 5,130,504 shares of the company traded hands. The company’s 50-day moving average is $21.27 and its 200 day moving average is $19.49. Jabil Circuit has a 52-week low of $16.78 and a 52-week high of $26.00. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 14.30 and a beta of 0.87.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/22/jabil-circuit-inc-jbl-rating-lowered-to-hold-at-standpoint-research.html
Jabil Circuit (NYSE:JBL) last released its earnings results on Wednesday, September 21st. The company reported $0.28 earnings per share 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 firm had revenue of $4.40 billion for the quarter. During the same quarter in the previous year, the company posted $0.53 earnings per share. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. On average, equities analysts anticipate that Jabil Circuit will post $1.83 earnings per share for the current year.
The business also recently declared 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 is presently 20.38%.
In related news, President William E. Peters sold 20,000 shares of the stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $23.25, for a total transaction of $465,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Loparco sold 2,000 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $21.90, for a total value of $43,800.00. Following the sale, the chief executive officer now directly owns 241,092 shares of the company’s stock, valued at $5,279,914.80. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
Large investors have recently modified their holdings of the company. Quantitative Systematic Strategies LLC bought a new stake in shares of Jabil Circuit during the second quarter valued at $181,000. Calvert Investment Management Inc. bought a new stake in shares of Jabil Circuit during the second quarter valued at $201,000. LS Investment Advisors LLC increased its stake 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 in the last quarter. LPL Financial LLC increased its stake 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 in the last quarter. Finally, World Asset Management Inc increased its stake 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 in the last quarter. 89.92% of the stock is owned by hedge funds and other 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.
Receive News & Ratings for Jabil Circuit Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jabil Circuit Inc. and related companies with MarketBeat.com's FREE daily email newsletter.