$0.62 Earnings Per Share Expected for Jabil Circuit, Inc. (JBL) This Quarter
Wall Street analysts predict that Jabil Circuit, Inc. (NYSE:JBL) will announce earnings per share (EPS) of $0.62 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Jabil Circuit’s earnings, with the lowest EPS estimate coming in at $0.60 and the highest estimate coming in at $0.63. Jabil Circuit reported earnings of $0.28 per share during the same quarter last year, which suggests a positive year over year growth rate of 121.4%. The business is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, September 27th.
On average, analysts expect that Jabil Circuit will report full year earnings of $2.11 per share for the current year, with EPS estimates ranging from $2.08 to $2.12. For the next financial year, analysts expect that the firm will post earnings of $2.60 per share, with EPS estimates ranging from $2.56 to $2.62. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Jabil Circuit.
A number of analysts have commented on JBL shares. ValuEngine upgraded shares of Jabil Circuit from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. BidaskClub cut shares of Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Royal Bank Of Canada increased their price target on shares of Jabil Circuit from $27.00 to $31.00 and gave the company a “sector perform” rating in a research note on Thursday, June 15th. UBS AG reiterated a “buy” rating and issued a $35.00 price target (up previously from $30.00) on shares of Jabil Circuit in a research note on Friday, June 16th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $37.00 price target on shares of Jabil Circuit in a research note on Friday, September 1st. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $30.64.
Jabil Circuit (NYSE JBL) traded down 1.08% on Tuesday, reaching $29.44. 3,327,876 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $30.47 and its 200-day moving average is $29.56. Jabil Circuit has a 12 month low of $20.32 and a 12 month high of $31.70. The firm has a market cap of $5.28 billion, a PE ratio of 45.29 and a beta of 0.55.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Friday, August 11th. Jabil Circuit’s dividend payout ratio is presently 50.00%.
Jabil Circuit announced that its board has initiated a share repurchase program on Thursday, July 20th that authorizes the company to buyback $450.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 8.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
In related news, Director Frank A. Newman sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $29.52, for a total transaction of $1,771,200.00. Following the transaction, the director now directly owns 127,665 shares of the company’s stock, valued at $3,768,670.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mark T. Mondello sold 30,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $31.32, for a total transaction of $939,600.00. Following the transaction, the chief executive officer now directly owns 1,877,619 shares in the company, valued at $58,807,027.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 150,521 shares of company stock valued at $4,528,146. 2.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in Jabil Circuit by 14.3% during the first quarter. FMR LLC now owns 27,333,444 shares of the technology company’s stock worth $790,483,000 after acquiring an additional 3,409,496 shares during the period. BlackRock Inc. increased its position in Jabil Circuit by 10,288.7% during the first quarter. BlackRock Inc. now owns 15,301,794 shares of the technology company’s stock worth $442,528,000 after acquiring an additional 15,154,502 shares during the period. Vanguard Group Inc. increased its position in Jabil Circuit by 1.0% during the second quarter. Vanguard Group Inc. now owns 13,967,548 shares of the technology company’s stock worth $407,712,000 after acquiring an additional 134,408 shares during the period. Dimensional Fund Advisors LP increased its position in Jabil Circuit by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 5,951,206 shares of the technology company’s stock worth $173,715,000 after acquiring an additional 309,380 shares during the period. Finally, AJO LP increased its position in Jabil Circuit by 7,383.3% during the second quarter. AJO LP now owns 3,512,607 shares of the technology company’s stock worth $102,533,000 after acquiring an additional 3,465,668 shares during the period. 93.05% of the stock is currently owned by institutional investors and hedge funds.
Jabil Circuit Company Profile
Jabil Inc, formerly Jabil Circuit, Inc, provides electronic manufacturing services and solutions throughout the world. The Company operates in two segments, which include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The Company’s EMS segment is focused on leveraging information technology (IT), supply chain design and engineering, technologies centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a range of markets.
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