Jabil Circuit, Inc. (NYSE:JBL) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Jabil Circuit, Inc. (NYSE:JBL) have earned an average rating of “Buy” from the sixteen brokerages that are covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $28.20.
A number of equities analysts have issued reports on the company. BidaskClub upgraded Jabil Circuit from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Macquarie initiated coverage on Jabil Circuit in a research report on Thursday, June 22nd. They set an “outperform” rating on the stock. Zacks Investment Research raised Jabil Circuit from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Tuesday, June 20th. Bank of America Corporation reaffirmed a “buy” rating and set a $34.00 price target (up previously from $33.00) on shares of Jabil Circuit in a research report on Monday, June 19th. Finally, UBS AG reaffirmed a “buy” rating and set a $35.00 price target (up previously from $30.00) on shares of Jabil Circuit in a research report on Friday, June 16th.
In other news, CEO Mark T. Mondello sold 30,000 shares of Jabil Circuit stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $29.57, for a total transaction of $887,100.00. Following the completion of the transaction, the chief executive officer now directly owns 1,937,619 shares in the company, valued at approximately $57,295,393.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael Dastoor sold 2,350 shares of Jabil Circuit stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $29.49, for a total value of $69,301.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 279,324 shares of company stock valued at $8,402,458. Corporate insiders own 2.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. KBC Group NV increased its position in shares of Jabil Circuit by 63.0% in the first quarter. KBC Group NV now owns 252,871 shares of the technology company’s stock valued at $7,313,000 after buying an additional 97,765 shares in the last quarter. Capstone Asset Management Co. increased its position in shares of Jabil Circuit by 3.1% in the first quarter. Capstone Asset Management Co. now owns 26,126 shares of the technology company’s stock valued at $756,000 after buying an additional 780 shares in the last quarter. Pegasus Partners Ltd. increased its position in shares of Jabil Circuit by 6.3% in the fourth quarter. Pegasus Partners Ltd. now owns 32,487 shares of the technology company’s stock valued at $769,000 after buying an additional 1,922 shares in the last quarter. Martingale Asset Management L P acquired a new position in shares of Jabil Circuit during the first quarter valued at approximately $4,465,000. Finally, Creative Planning increased its position in shares of Jabil Circuit by 2.0% in the first quarter. Creative Planning now owns 18,157 shares of the technology company’s stock valued at $525,000 after buying an additional 351 shares in the last quarter. Institutional investors own 94.85% of the company’s stock.
Shares of Jabil Circuit (NYSE JBL) traded up 0.68% during midday trading on Monday, reaching $30.95. 405,477 shares of the company’s stock traded hands. The firm has a market capitalization of $5.55 billion, a P/E ratio of 47.62 and a beta of 0.56. The stock’s 50 day moving average price is $30.01 and its 200 day moving average price is $27.73. Jabil Circuit has a 52-week low of $19.94 and a 52-week high of $31.70.
Jabil Circuit (NYSE:JBL) last issued its earnings results on Wednesday, June 14th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. Jabil Circuit had a return on equity of 12.27% and a net margin of 0.66%. The firm had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.40 billion. During the same quarter last year, the business earned $0.17 earnings per share. The company’s revenue was up 4.1% compared to the same quarter last year. On average, equities research analysts anticipate that Jabil Circuit will post $2.10 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be paid a $0.08 dividend. The ex-dividend date is Friday, August 11th. This represents a $0.32 dividend on an annualized basis and a yield of 1.04%. Jabil Circuit’s dividend payout ratio is 50.00%.
Jabil Circuit declared that its board has authorized a share buyback plan on Thursday, July 20th that authorizes the company to repurchase $450.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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About Jabil Circuit
Jabil Inc, formerly 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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