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

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

Jabil Trading Down 1.5 %

Jabil stock traded down $1.91 during mid-day trading on Friday, hitting $124.74. The company’s stock had a trading volume of 612,067 shares, compared to its average volume of 1,486,187. The stock’s fifty day moving average is $107.19 and its two-hundred day moving average is $116.90. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $14.15 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 2.23 and a beta of 1.25. Jabil has a 1 year low of $95.85 and a 1 year high of $156.94.

Jabil Announces Dividend

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

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

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

About Jabil

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).