Brokerages Anticipate Jabil Circuit, Inc. (JBL) Will Post Quarterly Sales of $5.50 Billion
Equities analysts expect Jabil Circuit, Inc. (NYSE:JBL) to post $5.50 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Jabil Circuit’s earnings, with the highest sales estimate coming in at $5.51 billion and the lowest estimate coming in at $5.49 billion. Jabil Circuit reported sales of $5.10 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 7.8%. The firm is scheduled to announce its next earnings report on Thursday, December 21st.
According to Zacks, analysts expect that Jabil Circuit will report full year sales of $5.50 billion for the current year, with estimates ranging from $19.78 billion to $20.50 billion. For the next financial year, analysts expect that the firm will post sales of $20.71 billion per share, with estimates ranging from $20.30 billion to $21.09 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Jabil Circuit.
Jabil Circuit (NYSE:JBL) last posted its earnings results on Wednesday, September 27th. The technology company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.03. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.86 billion. Jabil Circuit had a net margin of 0.68% and a return on equity of 14.47%. Jabil Circuit’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 earnings per share.
In other news, President William E. Peters sold 3,580 shares of the business’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $28.74, for a total value of $102,889.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark T. Mondello sold 30,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $30.47, for a total transaction of $914,100.00. Following the completion of the sale, the chief executive officer now owns 1,907,619 shares of the company’s stock, valued at approximately $58,125,150.93. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,680 shares of company stock valued at $3,785,446. Company insiders own 2.90% of the company’s stock.
Large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in shares of Jabil Circuit by 17.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,607 shares of the technology company’s stock valued at $281,000 after purchasing an additional 1,413 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Jabil Circuit by 5.0% in the 2nd quarter. Legal & General Group Plc now owns 914,334 shares of the technology company’s stock valued at $26,688,000 after purchasing an additional 43,628 shares in the last quarter. Chicago Equity Partners LLC raised its holdings in shares of Jabil Circuit by 315.7% in the 2nd quarter. Chicago Equity Partners LLC now owns 185,845 shares of the technology company’s stock valued at $5,425,000 after purchasing an additional 141,140 shares in the last quarter. Martingale Asset Management L P raised its holdings in shares of Jabil Circuit by 62.0% in the 2nd quarter. Martingale Asset Management L P now owns 249,995 shares of the technology company’s stock valued at $7,298,000 after purchasing an additional 95,635 shares in the last quarter. Finally, Teachers Advisors LLC raised its holdings in shares of Jabil Circuit by 0.4% in the 1st quarter. Teachers Advisors LLC now owns 502,040 shares of the technology company’s stock valued at $14,519,000 after purchasing an additional 2,138 shares in the last quarter. Institutional investors and hedge funds own 92.93% of the company’s stock.
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Shares of Jabil Circuit (JBL) opened at 28.44 on Friday. Jabil Circuit has a 12-month low of $20.32 and a 12-month high of $31.70. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 41.22 and a beta of 0.59. The stock’s 50 day moving average is $29.30 and its 200-day moving average is $29.71.
Jabil Circuit announced that its board has approved a stock repurchase plan on Thursday, July 20th that allows the company to repurchase $450.00 million in shares. This repurchase authorization allows the technology company to buy up to 8.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be issued a $0.08 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $0.32 annualized dividend and a dividend yield of 1.13%. Jabil Circuit’s dividend payout ratio is currently 46.38%.
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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