Brokerages Anticipate Jabil Circuit, Inc. (JBL) Will Announce Earnings of $0.54 Per Share
Brokerages forecast that Jabil Circuit, Inc. (NYSE:JBL) will announce earnings per share of $0.54 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Jabil Circuit’s earnings. Jabil Circuit reported earnings per share of $0.28 in the same quarter last year, which would indicate a positive year-over-year growth rate of 92.9%. The company is scheduled to report its next earnings report on Wednesday, September 20th.
On average, analysts expect that Jabil Circuit will report full-year earnings of $1.84 per share for the current fiscal year. For the next fiscal year, analysts forecast that the company will report earnings of $2.07 per share. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Jabil Circuit.
Jabil Circuit (NYSE:JBL) last released its earnings results on Wednesday, June 14th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.02. The business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.40 billion. Jabil Circuit had a return on equity of 12.27% and a net margin of 0.66%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 earnings per share.
JBL has been the topic of several analyst reports. UBS AG restated a “buy” rating and issued a $35.00 target price (up from $30.00) on shares of Jabil Circuit in a research report on Friday, June 16th. BidaskClub upgraded Jabil Circuit from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research cut Jabil Circuit from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. Stifel Nicolaus raised their target price on Jabil Circuit from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Thursday, June 15th. Finally, Bank of America Corporation restated a “buy” rating and issued a $34.00 target price (up from $33.00) on shares of Jabil Circuit in a research report on Monday, June 19th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $27.83.
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In other Jabil Circuit news, COO William D. Muir, Jr. sold 2,000 shares of Jabil Circuit stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $29.08, for a total transaction of $58,160.00. Following the sale, the chief operating officer now directly owns 522,085 shares of the company’s stock, valued at $15,182,231.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas A. Sansone sold 25,000 shares of Jabil Circuit stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $29.75, for a total value of $743,750.00. Following the sale, the director now directly owns 176,688 shares in the company, valued at $5,256,468. The disclosure for this sale can be found here. Insiders have sold 276,974 shares of company stock worth $8,333,156 over the last 90 days. Corporate insiders own 2.90% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in JBL. FMR LLC increased its stake in Jabil Circuit by 14.3% in the first quarter. FMR LLC now owns 27,333,444 shares of the technology company’s stock worth $790,483,000 after buying an additional 3,409,496 shares during the last quarter. BlackRock Inc. increased its position in shares of Jabil Circuit by 10,288.7% in the first quarter. BlackRock Inc. now owns 15,301,794 shares of the technology company’s stock valued at $442,528,000 after buying an additional 15,154,502 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Jabil Circuit by 7.0% in the first quarter. Vanguard Group Inc. now owns 13,833,140 shares of the technology company’s stock valued at $400,053,000 after buying an additional 901,400 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Jabil Circuit by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 5,641,826 shares of the technology company’s stock valued at $163,163,000 after buying an additional 112,486 shares during the last quarter. Finally, LSV Asset Management increased its position in shares of Jabil Circuit by 29.8% in the first quarter. LSV Asset Management now owns 2,747,837 shares of the technology company’s stock valued at $79,467,000 after buying an additional 631,653 shares during the last quarter. 94.85% of the stock is currently owned by institutional investors.
Jabil Circuit (JBL) traded down 0.10% on Wednesday, hitting $31.07. The stock had a trading volume of 773,355 shares. Jabil Circuit has a 12-month low of $19.94 and a 12-month high of $31.70. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 47.80 and a beta of 0.56. The company’s 50 day moving average price is $30.01 and its 200-day moving average price is $27.86.
Jabil Circuit declared that its Board of Directors has initiated a stock repurchase plan on Thursday, July 20th that permits the company to buyback $450.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 8.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.03%. Jabil Circuit’s payout ratio is presently 50.00%.
Jabil Circuit Company Profile
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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