BidaskClub Lowers Jabil Circuit, Inc. (JBL) to Buy
Jabil Circuit, Inc. (NYSE:JBL) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.
Other research analysts also recently issued research reports about the stock. Needham & Company LLC raised shares of Jabil Circuit from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Thursday, March 16th. ValuEngine raised shares of Jabil Circuit from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research raised shares of Jabil Circuit from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a report on Tuesday, March 21st. Stifel Nicolaus increased their price target on shares of Jabil Circuit from $23.00 to $26.00 and gave the company a “hold” rating in a report on Thursday, March 16th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $27.00 price target on shares of Jabil Circuit in a report on Tuesday, May 2nd. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $26.18.
Shares of Jabil Circuit (JBL) traded down 3.33% during midday trading on Friday, reaching $28.46. The company’s stock had a trading volume of 4,454,927 shares. The company has a market cap of $5.19 billion, a PE ratio of 35.49 and a beta of 0.58. The company’s 50-day moving average price is $29.66 and its 200-day moving average price is $26.53. Jabil Circuit has a 12 month low of $17.27 and a 12 month high of $31.70.
Jabil Circuit (NYSE:JBL) last announced its quarterly earnings results on Wednesday, June 14th. The technology company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.02. Jabil Circuit had a net margin of 0.66% and a return on equity of 12.27%. The firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.40 billion. During the same quarter last year, the firm earned $0.17 EPS. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities analysts anticipate that Jabil Circuit will post $2.10 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Monday, May 15th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Thursday, May 11th. Jabil Circuit’s payout ratio is currently 50.00%.
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In other news, COO William D. Muir, Jr. sold 2,000 shares of Jabil Circuit stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $29.08, for a total transaction of $58,160.00. Following the completion of the sale, the chief operating officer now owns 522,085 shares of the company’s stock, valued at $15,182,231.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Loparco sold 5,000 shares of Jabil Circuit stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $28.90, for a total transaction of $144,500.00. Following the sale, the chief executive officer now directly owns 249,486 shares of the company’s stock, valued at approximately $7,210,145.40. The disclosure for this sale can be found here. In the last three months, insiders sold 295,016 shares of company stock valued at $8,801,536. 2.90% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. bought a new stake in Jabil Circuit during the first quarter valued at $218,000. Boothbay Fund Management LLC bought a new stake in Jabil Circuit during the fourth quarter valued at $224,000. PNC Financial Services Group Inc. increased its stake in Jabil Circuit by 1.3% in the first quarter. PNC Financial Services Group Inc. now owns 8,194 shares of the technology company’s stock valued at $236,000 after buying an additional 109 shares in the last quarter. Symphony Asset Management LLC bought a new stake in Jabil Circuit during the first quarter valued at $242,000. Finally, Teza Capital Management LLC bought a new stake in Jabil Circuit during the first quarter valued at $287,000. 95.26% of the stock is owned by hedge funds and other institutional investors.
About Jabil Circuit
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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