Jabil (NYSE:JBL) Shares Gap Up After Better-Than-Expected Earnings

Jabil Inc. (NYSE:JBL) shares gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $133.96, but opened at $148.16. Jabil shares last traded at $146.17, with a volume of 982,781 shares traded.

The technology company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.12. The company had revenue of $6.99 billion during the quarter, compared to analyst estimates of $6.61 billion. Jabil had a net margin of 4.81% and a return on equity of 42.64%. Jabil’s revenue for the quarter was down 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.60 EPS.

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were given a dividend of $0.08 per share. The ex-dividend date was Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.23%. Jabil’s dividend payout ratio (DPR) is presently 2.90%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on JBL shares. Barclays boosted their target price on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Stifel Nicolaus restated a “buy” rating and set a $160.00 price objective (up previously from $150.00) on shares of Jabil in a report on Thursday. The Goldman Sachs Group increased their target price on Jabil from $136.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday. Bank of America boosted their price target on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, UBS Group upped their price objective on shares of Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.50.

Insider Buying and Selling

In other Jabil news, SVP Francis Mckay sold 11,755 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $121.71, for a total value of $1,430,701.05. Following the completion of the sale, the senior vice president now owns 41,507 shares in the company, valued at approximately $5,051,816.97. This trade represents a 22.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Frederic E. Mccoy sold 4,000 shares of Jabil stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $118.70, for a total transaction of $474,800.00. Following the transaction, the executive vice president now directly owns 108,753 shares in the company, valued at approximately $12,908,981.10. This represents a 3.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,689 shares of company stock worth $5,377,431. 1.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp boosted its holdings in shares of Jabil by 6.0% in the 3rd quarter. Van ECK Associates Corp now owns 1,589 shares of the technology company’s stock worth $195,000 after buying an additional 90 shares during the last quarter. Verdence Capital Advisors LLC boosted its stake in Jabil by 2.9% in the third quarter. Verdence Capital Advisors LLC now owns 3,234 shares of the technology company’s stock valued at $387,000 after acquiring an additional 91 shares during the last quarter. Gateway Investment Advisers LLC grew its position in shares of Jabil by 3.5% during the 3rd quarter. Gateway Investment Advisers LLC now owns 3,139 shares of the technology company’s stock valued at $376,000 after acquiring an additional 105 shares during the period. Richard P Slaughter Associates Inc grew its position in shares of Jabil by 0.7% during the 3rd quarter. Richard P Slaughter Associates Inc now owns 17,624 shares of the technology company’s stock valued at $2,112,000 after acquiring an additional 120 shares during the period. Finally, Private Advisor Group LLC increased its stake in shares of Jabil by 4.9% during the 3rd quarter. Private Advisor Group LLC now owns 2,578 shares of the technology company’s stock worth $309,000 after purchasing an additional 120 shares during the last quarter. Institutional investors own 93.39% of the company’s stock.

Jabil Price Performance

The business’s fifty day moving average is $130.72 and its 200 day moving average is $118.12. The company has a market cap of $15.69 billion, a P/E ratio of 12.74, a PEG ratio of 1.57 and a beta of 1.25. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66.

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).