Jabil Circuit, Inc. (JBL) Given Average Recommendation of “Hold” by Analysts
Shares of Jabil Circuit, Inc. (NYSE:JBL) have been given an average recommendation of “Hold” by the seventeen analysts that are currently covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $29.27.
Several analysts have issued reports on the company. BidaskClub cut Jabil Circuit from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. J P Morgan Chase & Co assumed coverage on Jabil Circuit in a research report on Wednesday, August 2nd. They set an “overweight” rating and a $40.00 target price on the stock. Macquarie assumed 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 target price on the stock in a research report on Tuesday, June 20th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $34.00 target price (up previously from $33.00) on shares of Jabil Circuit in a research report on Monday, June 19th.
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In related news, CFO Forbes I. J. Alexander sold 4,341 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $30.00, for a total value of $130,230.00. Following the completion of the transaction, the chief financial officer now owns 586,184 shares in the company, valued at approximately $17,585,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Loparco sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $29.90, for a total value of $149,500.00. Following the completion of the transaction, the chief executive officer now owns 244,486 shares of the company’s stock, valued at approximately $7,310,131.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 280,495 shares of company stock valued at $8,461,492. Company insiders own 2.90% of the company’s stock.
Institutional investors have recently modified their holdings of the company. KBC Group NV raised 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 worth $7,313,000 after buying an additional 97,765 shares during the period. Capstone Asset Management Co. raised 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 worth $756,000 after buying an additional 780 shares during the period. Teachers Advisors LLC raised its position in shares of Jabil Circuit by 0.4% in the first quarter. Teachers Advisors LLC now owns 502,040 shares of the technology company’s stock worth $14,519,000 after buying an additional 2,138 shares during the period. Martingale Asset Management L P purchased a new position in shares of Jabil Circuit during the first quarter worth about $4,465,000. Finally, PGGM Investments raised its position in shares of Jabil Circuit by 2.7% in the second quarter. PGGM Investments now owns 113,091 shares of the technology company’s stock worth $3,301,000 after buying an additional 3,006 shares during the period. Institutional investors own 93.03% of the company’s stock.
Jabil Circuit (NYSE JBL) traded up 0.81% on Friday, hitting $29.72. The stock had a trading volume of 1,571,095 shares. The firm has a market capitalization of $5.33 billion, a price-to-earnings ratio of 45.72 and a beta of 0.56. The stock’s 50-day moving average is $30.18 and its 200 day moving average is $28.66. Jabil Circuit has a 1-year low of $20.32 and a 1-year high of $31.70.
Jabil Circuit (NYSE:JBL) last announced its earnings results on Wednesday, June 14th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.02. The business had revenue of $4.49 billion for 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%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 EPS. On average, equities research analysts predict that Jabil Circuit will post $2.09 earnings per share for the current fiscal year.
Jabil Circuit announced that its Board of Directors has approved a stock repurchase plan on Thursday, July 20th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the technology company to buy up to 8.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management 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 issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.32 annualized dividend and a dividend yield of 1.09%. Jabil Circuit’s dividend payout ratio is presently 50.00%.
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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