Jabil Inc (NYSE:JBL) shares gapped down before the market opened on Wednesday . The stock had previously closed at $28.89, but opened at $28.07. Jabil shares last traded at $27.60, with a volume of 186461 shares trading hands.
A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. set a $37.00 price target on Jabil and gave the company a “buy” rating in a report on Wednesday. Zacks Investment Research downgraded Jabil from a “hold” rating to a “sell” rating in a report on Wednesday, June 20th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $32.00.
The company has a quick ratio of 0.51, a current ratio of 1.02 and a debt-to-equity ratio of 1.00. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 0.88 and a beta of 0.36.
Jabil (NYSE:JBL) last issued its quarterly earnings results on Tuesday, September 25th. The technology company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Jabil had a return on equity of 15.99% and a net margin of 0.39%. The business had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.41 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. Jabil’s revenue for the quarter was up 14.9% compared to the same quarter last year. sell-side analysts expect that Jabil Inc will post 2.64 earnings per share for the current fiscal year.
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 1.18%. Jabil’s dividend payout ratio is 14.75%.
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.
In other Jabil news, President William E. Peters sold 13,915 shares of the business’s stock in a transaction dated Monday, July 2nd. The stock was 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 $14,841,966.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark T. Mondello sold 30,000 shares of the business’s stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $30.01, for a total value of $900,300.00. Following the completion of the transaction, the chief executive officer now owns 1,801,889 shares in the company, valued at approximately $54,074,688.89. The disclosure for this sale can be found here. Insiders sold 71,745 shares of company stock worth $2,084,884 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. United Services Automobile Association grew its stake in Jabil by 1.2% in the second quarter. United Services Automobile Association now owns 258,319 shares of the technology company’s stock valued at $7,145,000 after purchasing an additional 3,172 shares in the last quarter. Royal London Asset Management Ltd. purchased a new position in Jabil in the second quarter valued at about $4,246,000. Northern Trust Corp grew its stake in Jabil by 7.1% in the second quarter. Northern Trust Corp now owns 2,018,480 shares of the technology company’s stock valued at $55,831,000 after purchasing an additional 133,721 shares in the last quarter. California Public Employees Retirement System grew its stake in Jabil by 1.4% in the second quarter. California Public Employees Retirement System now owns 657,192 shares of the technology company’s stock valued at $18,178,000 after purchasing an additional 9,086 shares in the last quarter. Finally, Sentinel Trust Co. LBA lifted its position in shares of Jabil by 141.7% in the second quarter. Sentinel Trust Co. LBA now owns 78,475 shares of the technology company’s stock worth $2,170,000 after buying an additional 46,010 shares during the last quarter. Hedge funds and other institutional investors own 89.79% of the company’s stock.
Jabil Company Profile (NYSE:JBL)
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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