Jabil (NYSE:JBL) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Jabil (NYSE:JBL) posted its quarterly earnings results on Thursday. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.08, Briefing.com reports. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.59 billion. Jabil had a net margin of 4.63% and a return on equity of 40.30%. The firm’s quarterly revenue was down 17.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.34 earnings per share.

Jabil Stock Down 3.4 %

Shares of NYSE:JBL traded down $4.31 during midday trading on Friday, hitting $122.34. 2,053,555 shares of the stock were exchanged, compared to its average volume of 1,494,039. The company has a market capitalization of $13.88 billion, a PE ratio of 11.13, a P/E/G ratio of 2.23 and a beta of 1.25. Jabil has a 52-week low of $95.85 and a 52-week high of $156.94. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 1.13. The business’s fifty day simple moving average is $107.42 and its two-hundred day simple moving average is $116.72.

Jabil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Thursday, 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 0.26%. The ex-dividend date was Thursday, August 15th. Jabil’s dividend payout ratio (DPR) is currently 2.91%.

Insiders Place Their Bets

In other news, EVP Frederic E. Mccoy sold 1,250 shares of Jabil stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $116.42, for a total transaction of $145,525.00. Following the completion of the sale, the executive vice president now directly owns 112,753 shares in the company, valued at approximately $13,126,704.26. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Frederic E. Mccoy sold 1,250 shares of Jabil stock in a transaction on Monday, July 15th. The shares were sold at an average price of $116.42, for a total value of $145,525.00. Following the completion of the sale, the executive vice president now owns 112,753 shares of the company’s stock, valued at approximately $13,126,704.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP May Yee Yap sold 4,274 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total value of $500,228.96. Following the transaction, the senior vice president now owns 24,829 shares in the company, valued at $2,905,986.16. The disclosure for this sale can be found here. Insiders own 2.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Stifel Nicolaus increased their price target on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday. Bank of America boosted their price objective on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday. Barclays boosted their price target on shares of Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a report on Friday. Finally, UBS Group decreased their price objective on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, June 21st. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $145.75.

Jabil Company Profile

Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; 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).