$6.61 Billion in Sales Expected for Jabil Inc (NYSE:JBL) This Quarter
Analysts expect Jabil Inc (NYSE:JBL) to report sales of $6.61 billion for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Jabil’s earnings. The highest sales estimate is $6.62 billion and the lowest is $6.60 billion. Jabil posted sales of $5.77 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 14.6%. The business is expected to issue its next quarterly earnings report on Tuesday, September 24th.
According to Zacks, analysts expect that Jabil will report full-year sales of $25.32 billion for the current fiscal year, with estimates ranging from $25.30 billion to $25.32 billion. For the next year, analysts anticipate that the firm will post sales of $26.39 billion, with estimates ranging from $26.19 billion to $26.56 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Jabil.
Jabil (NYSE:JBL) last released its earnings results on Tuesday, June 18th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.57. Jabil had a net margin of 0.72% and a return on equity of 18.57%. The business had revenue of $6.14 billion during the quarter, compared to analyst estimates of $6.01 billion. During the same quarter in the prior year, the firm earned $0.46 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year.
In other news, Director Martha Brooks sold 10,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $30.22, for a total transaction of $302,200.00. Following the transaction, the director now owns 92,400 shares of the company’s stock, valued at approximately $2,792,328. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Alessandro Parimbelli sold 3,500 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $30.78, for a total transaction of $107,730.00. Following the completion of the transaction, the chief executive officer now directly owns 317,292 shares in the company, valued at approximately $9,766,247.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,500 shares of company stock worth $1,460,795. Corporate insiders own 2.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. LSV Asset Management lifted its position in Jabil by 6.0% in the first quarter. LSV Asset Management now owns 6,537,449 shares of the technology company’s stock valued at $173,830,000 after buying an additional 371,247 shares during the last quarter. FMR LLC lifted its position in Jabil by 38.7% in the first quarter. FMR LLC now owns 6,368,324 shares of the technology company’s stock valued at $169,335,000 after buying an additional 1,775,742 shares during the last quarter. Norges Bank acquired a new position in Jabil in the fourth quarter valued at about $46,681,000. Millennium Management LLC lifted its position in Jabil by 529.6% in the fourth quarter. Millennium Management LLC now owns 1,858,462 shares of the technology company’s stock valued at $46,071,000 after buying an additional 1,563,273 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Jabil by 5.8% in the first quarter. Wells Fargo & Company MN now owns 1,798,599 shares of the technology company’s stock valued at $47,825,000 after buying an additional 98,510 shares during the last quarter. 89.43% of the stock is currently owned by institutional investors.
Shares of Jabil stock traded up $0.22 during trading hours on Monday, reaching $30.47. 750,855 shares of the company’s stock were exchanged, compared to its average volume of 1,322,021. The firm has a fifty day moving average price of $29.46. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.01 and a quick ratio of 0.61. The stock has a market capitalization of $4.70 billion, a P/E ratio of 14.04, a P/E/G ratio of 1.17 and a beta of 0.97. Jabil has a 1 year low of $21.49 and a 1 year high of $32.24.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.32 annualized dividend and a dividend yield of 1.05%. Jabil’s payout ratio is 14.75%.
Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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).
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