Insider Selling: Jabil Circuit, Inc. (JBL) President Sells 11,000 Shares of Stock
Jabil Circuit, Inc. (NYSE:JBL) President William E. Peters sold 11,000 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $28.50, for a total value of $313,500.00. Following the transaction, the president now owns 700,422 shares of the company’s stock, valued at approximately $19,962,027. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Jabil Circuit, Inc. (NYSE:JBL) traded up 0.45% during midday trading on Monday, hitting $28.93. The stock had a trading volume of 2,510,088 shares. The company has a market cap of $5.27 billion, a PE ratio of 26.20 and a beta of 0.86. The firm has a 50-day moving average of $25.68 and a 200-day moving average of $22.99. Jabil Circuit, Inc. has a 12-month low of $16.78 and a 12-month high of $29.19.
Jabil Circuit (NYSE:JBL) last released its quarterly earnings results on Wednesday, March 15th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The company earned $4.45 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Jabil Circuit had a return on equity of 11.81% and a net margin of 1.15%. Jabil Circuit’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 EPS. Equities research analysts forecast that Jabil Circuit, Inc. will post $2.08 EPS for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Wednesday, February 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, February 13th. This represents a $0.32 dividend on an annualized basis and a yield of 1.11%. Jabil Circuit’s payout ratio is 28.83%.
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Several equities analysts have weighed in on the company. Raymond James Financial, Inc. restated a “market perform” rating and set a $26.00 price target on shares of Jabil Circuit in a report on Tuesday, February 28th. They noted that the move was a valuation call. B. Riley upgraded Jabil Circuit from a “neutral” rating to a “buy” rating in a report on Thursday, December 15th. Standpoint Research upgraded Jabil Circuit from a “hold” rating to a “buy” rating in a report on Monday, November 28th. Zacks Investment Research cut Jabil Circuit from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 22nd. Finally, Stifel Nicolaus raised their price target on Jabil Circuit from $23.00 to $26.00 and gave the company a “hold” rating in a report on Thursday. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $24.58.
A number of institutional investors have recently added to or reduced their stakes in the company. Penserra Capital Management LLC boosted its position in Jabil Circuit by 148.5% in the third quarter. Penserra Capital Management LLC now owns 5,995 shares of the company’s stock worth $130,000 after buying an additional 3,583 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in Jabil Circuit during the fourth quarter worth $224,000. Virginia Retirement Systems ET AL acquired a new position in Jabil Circuit during the third quarter worth $209,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Jabil Circuit during the third quarter worth $219,000. Finally, Diligent Investors LLC acquired a new position in Jabil Circuit during the fourth quarter worth $249,000. 94.69% of the stock is owned by institutional investors.
Jabil Circuit Company Profile
Jabil circuit, Inc provides electronic manufacturing services and solutions throughout the world. The Company operates in two segments, which include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The Company’s EMS segment is focused on leveraging information technology (IT), supply chain design and engineering, technologies centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a range of markets.
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