Jabil (NYSE:JBL) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Jabil (NYSE:JBL) released its earnings results on Thursday. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.08, Briefing.com reports. Jabil had a net margin of 4.63% and a return on equity of 40.30%. The business had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.59 billion. During the same quarter in the previous year, the company earned $2.34 earnings per share. The company’s quarterly revenue was down 17.7% on a year-over-year basis.

Jabil Trading Down 3.4 %

Shares of JBL traded down $4.31 during midday trading on Friday, hitting $122.34. 2,053,555 shares of the stock were exchanged, compared to its average volume of 1,494,039. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 1.13. The firm has a market cap of $13.88 billion, a P/E ratio of 11.13, a P/E/G ratio of 2.23 and a beta of 1.25. Jabil has a 52-week low of $95.85 and a 52-week high of $156.94. The stock has a fifty day simple moving average of $107.42 and a 200 day simple moving average of $116.72.

Jabil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date was Thursday, August 15th. Jabil’s dividend payout ratio (DPR) is 2.91%.

Insider Buying and Selling

In other Jabil news, SVP May Yee Yap sold 4,274 shares of Jabil stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total value of $500,228.96. Following the completion of the transaction, the senior vice president now directly owns 24,829 shares of the company’s stock, valued at approximately $2,905,986.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP May Yee Yap sold 4,274 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total transaction of $500,228.96. Following the sale, the senior vice president now owns 24,829 shares of the company’s stock, valued at $2,905,986.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Frederic E. Mccoy sold 1,250 shares of Jabil stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $116.42, for a total transaction of $145,525.00. Following the completion of the transaction, the executive vice president now owns 112,753 shares of the company’s stock, valued at approximately $13,126,704.26. The disclosure for this sale can be found here. 2.62% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on JBL. Stifel Nicolaus boosted their price target on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday. UBS Group dropped their price target on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, June 21st. Bank of America raised their price target on shares of Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. lowered their price objective on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Finally, Barclays raised their target price on Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $145.75.

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).