Jabil Inc. to Issue Quarterly Dividend of $0.08 (NYSE:JBL)

Jabil Inc. (NYSE:JBL) declared a quarterly dividend on Friday, January 24th,Wall Street Journal reports. Stockholders of record on Tuesday, February 18th will be paid a dividend of 0.08 per share by the technology company on Tuesday, March 4th. This represents a $0.32 annualized dividend and a dividend yield of 0.18%. The ex-dividend date is Tuesday, February 18th.

Jabil has a dividend payout ratio of 3.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Jabil to earn $9.71 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 3.3%.

Jabil Stock Up 1.2 %

NYSE:JBL traded up $2.02 during mid-day trading on Friday, hitting $173.26. The stock had a trading volume of 1,585,041 shares, compared to its average volume of 1,420,857. Jabil has a twelve month low of $95.85 and a twelve month high of $174.80. The stock has a 50-day simple moving average of $143.58 and a two-hundred day simple moving average of $124.78. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $18.92 billion, a PE ratio of 16.61, a PEG ratio of 1.68 and a beta of 1.23.

Jabil (NYSE:JBL) last released its quarterly earnings data on Wednesday, December 18th. The technology company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.12. The business had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $6.61 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The business’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.60 EPS. On average, equities research analysts anticipate that Jabil will post 8.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a report on Tuesday. Bank of America raised their target price on shares of Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. UBS Group increased their price target on shares of Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. The Goldman Sachs Group boosted their target price on Jabil from $136.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, Barclays lifted their price target on Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $153.17.

Insider Activity at Jabil

In related news, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $151.30, for a total value of $3,026,000.00. Following the sale, the director now directly owns 119,108 shares of the company’s stock, valued at approximately $18,021,040.40. This trade represents a 14.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Francis Mckay sold 11,755 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the transaction, the senior vice president now directly owns 41,507 shares in the company, valued at approximately $5,051,816.97. This represents a 22.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,038 shares of company stock valued at $5,579,666. Company insiders own 1.73% of the company’s stock.

About Jabil

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).