Jabil (NYSE:JBL) Updates FY 2022 Earnings Guidance

Jabil (NYSE:JBLGet Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share guidance of $7.45-$7.45 for the period, compared to the consensus earnings per share estimate of $7.25. The company issued revenue guidance of $32.80 billion-$32.80 billion, compared to the consensus revenue estimate of $32.67 billion. Jabil also updated its Q4 2022 guidance to $1.94-$2.34 EPS.

A number of research firms have recently commented on JBL. The Goldman Sachs Group cut their price target on shares of Jabil from $78.00 to $69.00 and set a buy rating on the stock in a report on Wednesday, June 1st. StockNews.com upgraded shares of Jabil from a buy rating to a strong-buy rating in a report on Friday, April 15th. Finally, Citigroup dropped their target price on shares of Jabil from $90.00 to $80.00 in a report on Friday, June 17th. Three research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Strong Buy and a consensus price target of $74.80.

JBL opened at $53.56 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.54 and a debt-to-equity ratio of 1.22. Jabil has a 1-year low of $51.90 and a 1-year high of $72.11. The company has a market capitalization of $7.56 billion, a PE ratio of 9.20, a PEG ratio of 0.69 and a beta of 1.37. The firm’s 50 day simple moving average is $58.32 and its two-hundred day simple moving average is $61.01.

Jabil (NYSE:JBLGet Rating) last released its quarterly earnings results on Thursday, June 16th. The technology company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.10. Jabil had a net margin of 2.69% and a return on equity of 37.88%. During the same period in the prior year, the firm earned $1.12 EPS. Equities analysts forecast that Jabil will post 6.59 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 2nd. Shareholders of record on Monday, May 16th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, May 13th. This represents a $0.32 annualized dividend and a yield of 0.60%. Jabil’s payout ratio is presently 5.50%.

In related news, Director Anousheh Ansari sold 3,500 shares of the firm’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $62.00, for a total transaction of $217,000.00. Following the completion of the transaction, the director now directly owns 37,400 shares of the company’s stock, valued at $2,318,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark T. Mondello sold 12,000 shares of the firm’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $62.20, for a total transaction of $746,400.00. Following the transaction, the chief executive officer now directly owns 2,055,589 shares of the company’s stock, valued at $127,857,635.80. The disclosure for this sale can be found here. 2.59% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of JBL. Zions Bancorporation N.A. purchased a new position in shares of Jabil in the 1st quarter worth $40,000. Point72 Hong Kong Ltd boosted its stake in shares of Jabil by 223.5% during the 1st quarter. Point72 Hong Kong Ltd now owns 3,600 shares of the technology company’s stock worth $222,000 after purchasing an additional 2,487 shares during the period. Delphia USA Inc. purchased a new position in shares of Jabil during the 1st quarter worth about $227,000. Brown Brothers Harriman & Co. purchased a new position in shares of Jabil during the 1st quarter worth about $236,000. Finally, Cetera Advisor Networks LLC boosted its stake in shares of Jabil by 4.7% during the 1st quarter. Cetera Advisor Networks LLC now owns 3,989 shares of the technology company’s stock worth $246,000 after purchasing an additional 180 shares during the period. 79.69% of the stock is owned by institutional investors and hedge funds.

Jabil Company Profile (Get Rating)

Jabil Inc provides manufacturing services and solutions worldwide. The company operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides electronic 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).

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