Jabil Circuit, Inc. (JBL) Expected to Post Quarterly Sales of $4.90 Billion
Equities analysts expect that Jabil Circuit, Inc. (NYSE:JBL) will post sales of $4.90 billion for the current quarter, Zacks reports. Three analysts have provided estimates for Jabil Circuit’s earnings, with estimates ranging from $4.85 billion to $4.92 billion. Jabil Circuit posted sales of $4.43 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.6%. The business is expected to issue its next earnings results on Wednesday, September 20th.
On average, analysts expect that Jabil Circuit will report full year sales of $4.90 billion for the current financial year, with estimates ranging from $18.70 billion to $18.96 billion. For the next financial year, analysts forecast that the company will report sales of $19.74 billion per share, with estimates ranging from $19.16 billion to $20.31 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Jabil Circuit.
Jabil Circuit (NYSE:JBL) last issued its earnings results on Wednesday, June 14th. The technology company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.02. The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.40 billion. Jabil Circuit had a return on equity of 12.27% and a net margin of 0.66%. Jabil Circuit’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.17 EPS.
Several research analysts recently commented on the company. BidaskClub lowered Jabil Circuit from a “buy” rating to a “hold” rating in a research report on Saturday. J P Morgan Chase & Co assumed coverage on Jabil Circuit in a research report on Wednesday, August 2nd. They issued an “overweight” rating and a $40.00 price target for the company. Macquarie assumed coverage on Jabil Circuit in a research report on Thursday, June 22nd. They issued an “outperform” rating for the company. Zacks Investment Research upgraded 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. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $34.00 price target (up previously from $33.00) on shares of Jabil Circuit in a research report on Monday, June 19th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Jabil Circuit currently has an average rating of “Hold” and an average target price of $28.77.
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Shares of Jabil Circuit (JBL) opened at 29.62 on Tuesday. The company’s 50-day moving average price is $30.18 and its 200 day moving average price is $28.60. The stock has a market capitalization of $5.31 billion, a PE ratio of 45.57 and a beta of 0.56. Jabil Circuit has a one year low of $20.32 and a one year high of $31.70.
The company also recently declared 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. 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 1.08%. Jabil Circuit’s payout ratio is 50.00%.
Jabil Circuit announced that its Board of Directors has initiated a share repurchase plan on Thursday, July 20th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits the technology company to buy up to 8.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
In related news, COO William D. Muir, Jr. sold 19,866 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $29.34, for a total value of $582,868.44. Following the completion of the sale, the chief operating officer now owns 597,085 shares in the company, valued at $17,518,473.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Forbes I. J. Alexander sold 4,341 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $30.00, for a total value of $130,230.00. Following the completion of the sale, the chief financial officer now owns 586,184 shares of the company’s stock, valued at approximately $17,585,520. The disclosure for this sale can be found here. Insiders sold 280,495 shares of company stock valued at $8,461,492 in the last quarter. 2.90% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of JBL. PNC Financial Services Group Inc. increased its position in shares of 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 worth $236,000 after buying an additional 109 shares during the period. Meeder Asset Management Inc. increased its position in shares of Jabil Circuit by 0.4% in the second quarter. Meeder Asset Management Inc. now owns 50,734 shares of the technology company’s stock worth $1,482,000 after buying an additional 194 shares during the period. Greenwich Wealth Management LLC increased its position 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 worth $704,000 after buying an additional 230 shares during the period. Pegasus Partners Ltd. increased its position 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 worth $946,000 after buying an additional 232 shares during the period. Finally, Advantus Capital Management Inc increased its position in shares of Jabil Circuit by 1.2% in the first quarter. Advantus Capital Management Inc now owns 23,332 shares of the technology company’s stock worth $675,000 after buying an additional 268 shares during the period. 93.03% of the stock is owned by institutional investors.
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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