Jabil Circuit, Inc. (NYSE:JBL)‘s stock had its “buy” rating reissued by investment analysts at Bank of America Corporation in a research report issued to clients and investors on Monday. They currently have a $34.00 target price on the technology company’s stock, up from their prior target price of $33.00. Bank of America Corporation’s price objective indicates a potential upside of 18.72% from the company’s previous close.
A number of other equities research analysts have also recently issued reports on JBL. Raymond James Financial, Inc. reiterated a “market perform” rating and set a $26.00 target price on shares of Jabil Circuit in a research report on Tuesday, February 28th. They noted that the move was a valuation call. Standpoint Research cut shares of Jabil Circuit from a “buy” rating to a “hold” rating in a research report on Wednesday, March 1st. Royal Bank Of Canada increased their target price on shares of Jabil Circuit from $24.00 to $27.00 and gave the stock a “sector perform” rating in a research report on Monday, March 13th. Needham & Company LLC upgraded shares of Jabil Circuit from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Thursday, March 16th. Finally, Stifel Nicolaus increased their target price on shares of Jabil Circuit from $23.00 to $26.00 and gave the stock a “hold” rating in a research report on Thursday, March 16th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $27.18.
Jabil Circuit (NYSE:JBL) opened at 28.64 on Monday. The firm has a 50-day moving average of $29.65 and a 200 day moving average of $26.73. Jabil Circuit has a 52-week low of $17.27 and a 52-week high of $31.70. The company has a market cap of $5.18 billion, a PE ratio of 44.06 and a beta of 0.58.
Jabil Circuit (NYSE:JBL) last released its quarterly earnings data on Wednesday, June 14th. The technology company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.40 billion. Jabil Circuit had a net margin of 0.66% and a return on equity of 12.27%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the firm earned $0.17 EPS. Equities research analysts expect that Jabil Circuit will post $2.10 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Monday, May 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.12%. The ex-dividend date was Thursday, May 11th. Jabil Circuit’s payout ratio is presently 50.00%.
In other Jabil Circuit news, Director Thomas A. Sansone sold 50,000 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $30.50, for a total value of $1,525,000.00. Following the completion of the sale, the director now owns 176,688 shares in the company, valued at approximately $5,388,984. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark T. Mondello sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $28.62, for a total transaction of $572,400.00. Following the completion of the sale, the chief executive officer now owns 2,017,619 shares of the company’s stock, valued at approximately $57,744,255.78. The disclosure for this sale can be found here. Insiders sold a total of 255,341 shares of company stock valued at $7,652,012 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. 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 valued at $790,483,000 after buying an additional 3,409,496 shares during the last quarter. 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 valued at $442,528,000 after buying an additional 15,154,502 shares during the last quarter. 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 valued at $400,053,000 after buying an additional 901,400 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Jabil Circuit by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 5,641,826 shares of the technology company’s stock valued at $163,163,000 after buying an additional 112,486 shares during the last quarter. Finally, LSV Asset Management boosted its stake in Jabil Circuit by 29.8% in the first quarter. LSV Asset Management now owns 2,747,837 shares of the technology company’s stock valued at $79,467,000 after buying an additional 631,653 shares during the last quarter. Hedge funds and other institutional investors own 95.40% of the company’s stock.
About Jabil Circuit
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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