Jabil Circuit, Inc. (JBL) To Go Ex-Dividend on November 14th
Jabil Circuit, Inc. (NYSE:JBL) declared a quarterly dividend on Thursday, October 19th, RTT News reports. Stockholders of record on Wednesday, November 15th will be given a dividend of 0.08 per share by the technology company on Friday, December 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Tuesday, November 14th.
Jabil Circuit has a dividend payout ratio of 14.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Jabil Circuit to earn $2.42 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 13.2%.
Jabil Circuit (NYSE JBL) opened at $28.61 on Monday. Jabil Circuit has a 52-week low of $20.32 and a 52-week high of $31.70. The company has a market cap of $5,053.76, a P/E ratio of 15.38, a PEG ratio of 1.07 and a beta of 0.53. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.96 and a quick ratio of 0.54.
Jabil Circuit (NYSE:JBL) last announced its earnings results on Wednesday, September 27th. The technology company reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.03. Jabil Circuit had a net margin of 0.68% and a return on equity of 14.47%. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same quarter in the previous year, the firm posted $0.28 earnings per share. Jabil Circuit’s revenue was up 13.4% compared to the same quarter last year. sell-side analysts forecast that Jabil Circuit will post 2.22 EPS for the current year.
A number of equities analysts recently issued reports on JBL shares. J P Morgan Chase & Co reaffirmed a “buy” rating and set a $40.00 target price on shares of Jabil Circuit in a research report on Thursday, September 28th. ValuEngine lowered shares of Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. BidaskClub lowered shares of Jabil Circuit from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Zacks Investment Research upgraded shares of Jabil Circuit from a “hold” rating to a “strong-buy” rating and set a $34.00 price target on the stock in a research note on Monday, October 2nd. Finally, Bank of America Corporation downgraded shares of Jabil Circuit from a “buy” rating to a “neutral” rating in a research note on Monday, September 25th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $30.50.
In related news, CEO Mark T. Mondello sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $28.33, for a total value of $849,900.00. Following the completion of the transaction, the chief executive officer now directly owns 1,725,499 shares in the company, valued at approximately $48,883,386.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President William E. Peters sold 3,580 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $28.74, for a total value of $102,889.20. The disclosure for this sale can be found here. Insiders sold 127,680 shares of company stock valued at $3,721,246 over the last ninety days. 2.90% of the stock is currently owned by company insiders.
Jabil Circuit declared that its Board of Directors has initiated a share buyback program on Thursday, July 20th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 8.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.
About Jabil Circuit
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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