Jabil (NYSE:JBL) Shares Gap Up Following Better-Than-Expected Earnings

Shares of Jabil Inc. (NYSE:JBL) gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $180.82, but opened at $185.19. Jabil shares last traded at $200.39, with a volume of 985,282 shares changing hands.

The technology company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.28 by $0.27. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The business had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.03 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year.

Jabil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Thursday, May 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.16%. Jabil’s payout ratio is 7.66%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on JBL shares. The Goldman Sachs Group upped their price target on Jabil from $165.00 to $188.00 and gave the company a “buy” rating in a research report on Tuesday, June 10th. Wall Street Zen raised shares of Jabil from a “hold” rating to a “buy” rating in a research report on Monday, May 19th. UBS Group boosted their target price on Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. JPMorgan Chase & Co. reduced their price objective on shares of Jabil from $175.00 to $154.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Finally, Barclays increased their price target on shares of Jabil from $184.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 10th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $169.17.

Insider Buying and Selling at Jabil

In related news, CEO Michael Dastoor sold 10,000 shares of Jabil stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $169.90, for a total transaction of $1,699,000.00. Following the transaction, the chief executive officer now owns 221,693 shares of the company’s stock, valued at $37,665,640.70. The trade was a 4.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $166.75, for a total transaction of $3,335,000.00. Following the transaction, the chairman now owns 1,710,192 shares of the company’s stock, valued at $285,174,516. This represents a 1.16% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,000 shares of company stock worth $7,665,200. Corporate insiders own 1.73% of the company’s stock.

Hedge Funds Weigh In On Jabil

Institutional investors have recently modified their holdings of the company. Groupe la Francaise boosted its stake in Jabil by 35.2% during the 1st quarter. Groupe la Francaise now owns 246 shares of the technology company’s stock valued at $34,000 after purchasing an additional 64 shares during the last quarter. Keeley Teton Advisors LLC raised its holdings in shares of Jabil by 0.3% in the first quarter. Keeley Teton Advisors LLC now owns 25,398 shares of the technology company’s stock valued at $3,456,000 after acquiring an additional 64 shares in the last quarter. Cordatus Wealth Management LLC raised its position in shares of Jabil by 2.9% in the 1st quarter. Cordatus Wealth Management LLC now owns 2,429 shares of the technology company’s stock worth $330,000 after acquiring an additional 68 shares in the last quarter. AlphaCore Capital LLC boosted its stake in Jabil by 2.4% in the first quarter. AlphaCore Capital LLC now owns 3,206 shares of the technology company’s stock valued at $436,000 after acquiring an additional 76 shares in the last quarter. Finally, UniSuper Management Pty Ltd raised its holdings in shares of Jabil by 0.3% in the first quarter. UniSuper Management Pty Ltd now owns 30,797 shares of the technology company’s stock worth $4,191,000 after buying an additional 81 shares during the last quarter. 93.39% of the stock is currently owned by institutional investors.

Jabil Stock Up 12.3%

The company has a market capitalization of $21.80 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 1.65 and a beta of 1.14. The business’s 50-day simple moving average is $156.76 and its 200-day simple moving average is $151.32. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81.

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).