Jabil (NYSE:JBL) Updates FY 2024 Earnings Guidance

Jabil (NYSE:JBLGet Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 8.400-8.400 for the period, compared to the consensus EPS estimate of 8.370. The company issued revenue guidance of $28.5 billion-$28.5 billion, compared to the consensus revenue estimate of $28.5 billion.

Analyst Ratings Changes

A number of brokerages recently issued reports on JBL. Bank of America decreased their price target on Jabil from $150.00 to $135.00 and set a buy rating for the company in a research note on Friday, June 21st. Argus downgraded Jabil from a buy rating to a hold rating in a research report on Tuesday, March 19th. StockNews.com upgraded shares of Jabil from a hold rating to a buy rating in a report on Tuesday, April 23rd. Barclays decreased their price objective on shares of Jabil from $149.00 to $135.00 and set an overweight rating for the company in a report on Friday, June 21st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Jabil from $155.00 to $145.00 and set an overweight rating on the stock in a research note on Monday, June 17th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $142.63.

Read Our Latest Stock Analysis on Jabil

Jabil Stock Up 3.4 %

NYSE:JBL opened at $113.73 on Thursday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.74. The firm has a market cap of $13.72 billion, a PE ratio of 10.35, a price-to-earnings-growth ratio of 1.96 and a beta of 1.27. The company has a 50-day moving average of $116.04 and a 200 day moving average of $126.71. Jabil has a 1-year low of $100.18 and a 1-year high of $156.94.

Jabil (NYSE:JBLGet Free Report) last announced its quarterly earnings results on Thursday, June 20th. The technology company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.53 billion. Jabil had a net margin of 4.63% and a return on equity of 40.30%. The company’s revenue was down 20.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.85 EPS. As a group, research analysts anticipate that Jabil will post 7.86 EPS for the current fiscal year.

Jabil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 15th were issued a $0.08 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. Jabil’s dividend payout ratio is presently 2.91%.

Insider Buying and Selling

In other Jabil news, CEO Kenneth S. Wilson sold 15,000 shares of Jabil stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $134.20, for a total value of $2,013,000.00. Following the transaction, the chief executive officer now owns 339,725 shares in the company, valued at $45,591,095. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.62% of the stock is currently owned by company insiders.

About Jabil

(Get Free Report)

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).

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Earnings History and Estimates for Jabil (NYSE:JBL)

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