Jabil Circuit, Inc. (NYSE:JBL)’s share price reached a new 52-week high during trading on Thursday following a dividend announcement from the company. The stock traded as high as $29.37 and last traded at $29.37, with a volume of 2,350,864 shares traded. The stock had previously closed at $29.00.
The newly announced dividend which will be paid on Thursday, June 1st. Investors of record on Monday, May 15th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Thursday, May 11th. Jabil Circuit’s payout ratio is currently 28.83%.
JBL has been the topic of a number of recent research reports. Zacks Investment Research lowered Jabil Circuit from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 15th. Raymond James Financial, Inc. reaffirmed a “market perform” rating and issued a $26.00 target price on shares of Jabil Circuit in a research note on Tuesday, February 28th. They noted that the move was a valuation call. Standpoint Research lowered Jabil Circuit from a “buy” rating to a “hold” rating in a research note on Wednesday, March 1st. Royal Bank of Canada increased their price target on Jabil Circuit from $24.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Monday, March 13th. Finally, Needham & Company LLC raised Jabil Circuit from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Thursday, March 16th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $25.25.
The stock has a market cap of $5.21 billion, a price-to-earnings ratio of 35.64 and a beta of 0.86. The firm has a 50-day moving average of $28.94 and a 200 day moving average of $25.27.
Jabil Circuit (NYSE:JBL) last announced its earnings results on Wednesday, March 15th. The technology company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Jabil Circuit had a net margin of 1.15% and a return on equity of 11.81%. The business had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter in the prior year, the company posted $0.57 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. On average, equities research analysts predict that Jabil Circuit, Inc. will post $2.07 earnings per share for the current fiscal year.
In other Jabil Circuit news, COO William D. Muir, Jr. sold 10,000 shares of the stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $25.71, for a total value of $257,100.00. Following the completion of the sale, the chief operating officer now owns 534,085 shares in the company, valued at $13,731,325.35. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark T. Mondello sold 4,305 shares of the stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $26.20, for a total transaction of $112,791.00. Following the completion of the sale, the chief executive officer now owns 2,067,619 shares of the company’s stock, valued at approximately $54,171,617.80. The disclosure for this sale can be found here. Insiders have sold 400,094 shares of company stock valued at $11,168,189 in the last 90 days. 2.90% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Jabil Circuit by 10,288.7% in the first quarter. BlackRock Inc. now owns 15,301,794 shares of the technology company’s stock worth $442,528,000 after buying an additional 15,154,502 shares in the last quarter. FMR LLC boosted its stake in Jabil Circuit by 14.3% in the first quarter. FMR LLC now owns 27,333,444 shares of the technology company’s stock worth $790,483,000 after buying an additional 3,409,496 shares in the last quarter. Norges Bank bought a new stake in Jabil Circuit during the fourth quarter worth about $54,769,000. Vanguard Group Inc. boosted its stake in Jabil Circuit by 7.0% in the first quarter. Vanguard Group Inc. now owns 13,833,140 shares of the technology company’s stock worth $400,053,000 after buying an additional 901,400 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Jabil Circuit during the fourth quarter worth about $19,845,000. Hedge funds and other institutional investors own 94.69% of the company’s stock.
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Jabil Circuit Company Profile
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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