Jabil (NYSE:JBL) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Jabil (NYSE:JBL) announced its earnings results on Thursday. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.08, Briefing.com reports. Jabil had a net margin of 4.63% and a return on equity of 40.30%. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.59 billion. During the same period in the prior year, the firm earned $2.34 earnings per share. The business’s quarterly revenue was down 17.7% compared to the same quarter last year.

Jabil Trading Down 1.2 %

Shares of JBL traded down $1.50 during midday trading on Friday, hitting $125.15. The stock had a trading volume of 485,570 shares, compared to its average volume of 1,485,995. Jabil has a fifty-two week low of $95.85 and a fifty-two week high of $156.94. The business has a 50-day simple moving average of $107.19 and a two-hundred day simple moving average of $116.90. The firm has a market cap of $14.20 billion, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 2.23 and a beta of 1.25. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 1.26.

Jabil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. The ex-dividend date was Thursday, August 15th. Jabil’s payout ratio is 2.91%.

Insiders Place Their Bets

In other news, EVP Frederic E. Mccoy sold 1,250 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $116.42, for a total value of $145,525.00. Following the completion of the sale, the executive vice president now directly owns 112,753 shares of the company’s stock, valued at $13,126,704.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP May Yee Yap sold 4,274 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total transaction of $500,228.96. Following the transaction, the senior vice president now owns 24,829 shares of the company’s stock, valued at $2,905,986.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Frederic E. Mccoy sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $116.42, for a total transaction of $145,525.00. Following the transaction, the executive vice president now directly owns 112,753 shares in the company, valued at approximately $13,126,704.26. The disclosure for this sale can be found here. Corporate insiders own 2.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. UBS Group dropped their target price on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, June 21st. Stifel Nicolaus increased their target price on shares of Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Friday. Bank of America increased their target price on shares of Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday. Finally, Barclays increased their target price on shares of Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a report on Friday. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Jabil currently has an average rating of “Moderate Buy” and a consensus price target of $145.75.

Jabil Company Profile

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