Jabil (NYSE:JBL) released its earnings results on Thursday. The technology company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06), Morningstar.com reports. The firm had revenue of $6.01 billion during the quarter, compared to analyst estimates of $6.12 billion. Jabil had a net margin of 0.63% and a return on equity of 19.52%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 earnings per share. Jabil updated its Q3 2019 guidance to $0.47-0.67 EPS and its Q3 guidance to $0.47-0.67 EPS.
Shares of Jabil stock traded down $0.13 on Friday, reaching $27.28. 64,740 shares of the company were exchanged, compared to its average volume of 1,493,758. Jabil has a 1-year low of $21.49 and a 1-year high of $31.77. The company has a market cap of $4.23 billion, a PE ratio of 12.80, a P/E/G ratio of 0.93 and a beta of 0.61. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.62 and a current ratio of 1.02.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Thursday, February 14th. Jabil’s dividend payout ratio is presently 14.75%.
Several equities analysts have weighed in on the company. TheStreet raised Jabil from a “c+” rating to a “b” rating in a research report on Monday, February 25th. ValuEngine raised Jabil from a “sell” rating to a “hold” rating in a research report on Wednesday, November 28th. Citigroup dropped their target price on Jabil to $24.00 and set a “sell” rating for the company in a research report on Tuesday, November 27th. They noted that the move was a valuation call. Zacks Investment Research raised Jabil from a “hold” rating to a “strong-buy” rating and set a $28.00 target price for the company in a research report on Tuesday, January 15th. Finally, Royal Bank of Canada lifted their target price on Jabil to $30.00 and gave the company an “average” rating in a research report on Wednesday, December 19th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $28.20.
In other news, CEO Michael J. Loparco sold 5,000 shares of the business’s stock in a transaction dated Friday, January 25th. The stock was sold at an average price of $25.67, for a total transaction of $128,350.00. Following the completion of the transaction, the chief executive officer now directly owns 296,943 shares of the company’s stock, valued at $7,622,526.81. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Steven D. Borges sold 7,500 shares of the business’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $29.00, for a total value of $217,500.00. Following the transaction, the chief executive officer now directly owns 275,115 shares of the company’s stock, valued at $7,978,335. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,022 shares of company stock valued at $1,125,766. Corporate insiders own 2.90% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in JBL. JOYN Advisors Inc. raised its stake in shares of Jabil by 2,157.4% during the fourth quarter. JOYN Advisors Inc. now owns 1,061 shares of the technology company’s stock worth $26,000 after purchasing an additional 1,014 shares during the last quarter. IMS Capital Management acquired a new stake in shares of Jabil during the third quarter valued at $31,000. Penserra Capital Management LLC acquired a new stake in shares of Jabil during the fourth quarter valued at $34,000. Mackey Komara & Dankovich LLC purchased a new position in Jabil during the fourth quarter worth about $38,000. Finally, Doyle Wealth Management purchased a new position in Jabil during the fourth quarter worth about $73,000. 89.69% of the stock is owned by hedge funds and other institutional investors.
Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides electronic circuit design services, such as application-specific integrated circuit design, firmware development and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA).
Recommended Story: Preferred Stock
Receive News & Ratings for Jabil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jabil and related companies with MarketBeat.com's FREE daily email newsletter.