Jabil (JBL) Updates Q2 Earnings Guidance
Jabil (NYSE:JBL) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.50-0.74 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.60. The company issued revenue guidance of $4.75-5.05 billion, compared to the consensus revenue estimate of $4.74 billion.
JBL has been the subject of several analyst reports. Goldman Sachs Group cut Jabil from a neutral rating to a sell rating and cut their price target for the stock from $28.00 to $26.00 in a research note on Tuesday, October 10th. Citigroup restated a sell rating and set a $28.00 price target on shares of Jabil in a research note on Thursday, September 28th. Needham & Company LLC reiterated a buy rating and issued a $37.00 price objective on shares of Jabil in a research report on Wednesday, September 27th. Zacks Investment Research cut Jabil from a strong-buy rating to a hold rating in a research report on Tuesday, November 28th. Finally, UBS reiterated a buy rating and issued a $35.00 price objective on shares of Jabil in a research report on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $30.50.
Jabil (NYSE:JBL) opened at $27.45 on Friday. The stock has a market capitalization of $5,045.71, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 1.07 and a beta of 0.55. 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 has a 52-week low of $21.51 and a 52-week high of $31.70.
Jabil (NYSE:JBL) last released its quarterly earnings data on Thursday, December 14th. The technology company reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.01. The firm had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.50 billion. Jabil had a return on equity of 14.47% and a net margin of 0.68%. Jabil’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.69 earnings per share. equities analysts expect that Jabil will post 2.22 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.17%. The ex-dividend date was Tuesday, November 14th. Jabil’s dividend payout ratio (DPR) is 46.38%.
In other Jabil news, CEO Mark T. Mondello sold 30,000 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $28.48, for a total value of $854,400.00. Following the sale, the chief executive officer now owns 1,836,889 shares of the company’s stock, valued at $52,314,598.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Erich Hoch sold 2,500 shares of the company’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $28.49, for a total value of $71,225.00. Following the completion of the sale, the chief executive officer now directly owns 206,943 shares in the company, valued at approximately $5,895,806.07. The disclosure for this sale can be found here. Insiders sold 147,680 shares of company stock worth $4,204,246 in the last three months. 2.90% of the stock is owned by corporate insiders.
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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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