Jabil Circuit, Inc. (NYSE:JBL) CEO Erich Hoch Sells 521 Shares
Jabil Circuit, Inc. (NYSE:JBL) CEO Erich Hoch sold 521 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $30.99, for a total value of $16,145.79. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Jabil Circuit, Inc. (NYSE JBL) traded up 0.42% during trading on Thursday, reaching $31.20. 1,107,015 shares of the company’s stock were exchanged. The company has a 50 day moving average of $30.01 and a 200 day moving average of $27.94. Jabil Circuit, Inc. has a 12-month low of $19.94 and a 12-month high of $31.70. The stock has a market cap of $5.59 billion, a P/E ratio of 48.00 and a beta of 0.56.
Jabil Circuit (NYSE:JBL) last announced its quarterly earnings results on Wednesday, June 14th. The technology company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Jabil Circuit had a net margin of 0.66% and a return on equity of 12.27%. The business had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.40 billion. During the same period last year, the business earned $0.17 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. Equities research analysts anticipate that Jabil Circuit, Inc. will post $2.10 EPS for the current year.
Jabil Circuit declared that its board has approved a stock repurchase program on Thursday, July 20th that permits the company to buyback $450.00 million in shares. This buyback authorization permits the technology company to reacquire up to 8.2% of its stock through open market purchases. Stock buyback programs are often 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. Investors of record on Tuesday, August 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Friday, August 11th. Jabil Circuit’s dividend payout ratio (DPR) is currently 50.00%.
Several brokerages have commented on JBL. ValuEngine upgraded shares of Jabil Circuit from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Macquarie assumed coverage on shares of Jabil Circuit in a research report on Thursday, June 22nd. They set an “outperform” rating for the company. Zacks Investment Research raised shares of Jabil Circuit from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Tuesday, June 20th. Needham & Company LLC reissued a “buy” rating and set a $30.00 price target on shares of Jabil Circuit in a research report on Tuesday, June 13th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $27.00 price target on shares of Jabil Circuit in a research report on Tuesday, May 2nd. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Jabil Circuit presently has an average rating of “Buy” and an average target price of $27.83.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Pegasus Partners Ltd. increased its stake in shares of Jabil Circuit by 0.7% in the first quarter. Pegasus Partners Ltd. now owns 32,719 shares of the technology company’s stock valued at $946,000 after buying an additional 232 shares in the last quarter. Greenwich Wealth Management LLC increased its stake in shares of Jabil Circuit by 1.0% in the first quarter. Greenwich Wealth Management LLC now owns 24,330 shares of the technology company’s stock valued at $704,000 after buying an additional 230 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Jabil Circuit by 5.6% in the first quarter. Russell Investments Group Ltd. now owns 230,603 shares of the technology company’s stock valued at $6,671,000 after buying an additional 12,235 shares in the last quarter. David R. Rahn & Associates Inc. bought a new stake in shares of Jabil Circuit during the first quarter valued at $488,000. Finally, First Quadrant L P CA increased its stake in shares of Jabil Circuit by 12.2% in the first quarter. First Quadrant L P CA now owns 1,027,567 shares of the technology company’s stock valued at $29,717,000 after buying an additional 111,609 shares in the last quarter. Institutional investors own 94.85% of the company’s stock.
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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