Wall Street brokerages forecast that Jabil Inc (NYSE:JBL) will post sales of $5.40 billion for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Jabil’s earnings, with the highest sales estimate coming in at $5.44 billion and the lowest estimate coming in at $5.38 billion. Jabil posted sales of $5.02 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 7.6%. The business is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, September 25th.

According to Zacks, analysts expect that Jabil will report full year sales of $21.73 billion for the current year, with estimates ranging from $21.70 billion to $21.76 billion. For the next year, analysts anticipate that the company will post sales of $22.59 billion per share, with estimates ranging from $22.36 billion to $22.68 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Jabil.

Separately, Zacks Investment Research cut Jabil from a “hold” rating to a “sell” rating in a report on Wednesday, June 20th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $33.00.

Shares of NYSE JBL opened at $30.08 on Tuesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.51 and a current ratio of 1.02. The firm has a market capitalization of $5.03 billion, a P/E ratio of 16.26, a P/E/G ratio of 0.94 and a beta of 0.36. Jabil has a 52-week low of $23.70 and a 52-week high of $31.77.

Jabil declared that its Board of Directors has authorized a share repurchase plan on Thursday, June 14th that allows the company to buyback $350.00 million in outstanding shares. This buyback authorization allows the technology company to buy up to 7.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Wednesday, August 15th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, August 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.06%. Jabil’s dividend payout ratio is 17.30%.

In other news, CEO Mark T. Mondello sold 30,000 shares of Jabil stock in a transaction on Friday, September 21st. The stock was sold at an average price of $30.01, for a total transaction of $900,300.00. Following the transaction, the chief executive officer now owns 1,801,889 shares in the company, valued at $54,074,688.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President William E. Peters sold 13,915 shares of Jabil stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $27.54, for a total value of $383,219.10. Following the transaction, the president now owns 538,924 shares in the company, valued at approximately $14,841,966.96. The disclosure for this sale can be found here. Insiders have sold 71,745 shares of company stock worth $2,084,884 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Bailard Inc. grew its holdings in shares of Jabil by 39.6% during the second quarter. Bailard Inc. now owns 22,200 shares of the technology company’s stock valued at $614,000 after buying an additional 6,300 shares in the last quarter. Strs Ohio purchased a new position in shares of Jabil during the second quarter valued at $30,790,000. New Jersey Better Educational Savings Trust purchased a new position in shares of Jabil during the second quarter valued at $277,000. Commonwealth Bank of Australia boosted its position in Jabil by 248.7% during the second quarter. Commonwealth Bank of Australia now owns 175,128 shares of the technology company’s stock valued at $4,841,000 after purchasing an additional 124,900 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its position in Jabil by 23.1% during the first quarter. Allianz Asset Management GmbH now owns 605,539 shares of the technology company’s stock valued at $17,397,000 after purchasing an additional 113,678 shares during the last quarter. Institutional investors and hedge funds own 89.79% of the company’s stock.

About Jabil

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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