Wall Street brokerages predict that Jabil Inc (NYSE:JBL) will post sales of $6.09 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Jabil’s earnings, with the lowest sales estimate coming in at $6.07 billion and the highest estimate coming in at $6.10 billion. Jabil reported sales of $5.59 billion in the same quarter last year, which indicates a positive year over year growth rate of 8.9%. The firm is scheduled to announce its next earnings results on Thursday, December 13th.
On average, analysts expect that Jabil will report full year sales of $24.40 billion for the current year, with estimates ranging from $24.13 billion to $24.63 billion. For the next financial year, analysts anticipate that the business will post sales of $25.76 billion, with estimates ranging from $24.96 billion to $26.40 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Jabil.
Jabil (NYSE:JBL) last issued its earnings results on Tuesday, September 25th. The technology company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Jabil had a return on equity of 16.56% and a net margin of 0.39%. The firm had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.41 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. The company’s revenue was up 14.9% compared to the same quarter last year.
JBL has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. set a $37.00 price target on Jabil and gave the stock a “buy” rating in a research report on Wednesday, September 26th. TheStreet downgraded Jabil from a “b-” rating to a “c+” rating in a research report on Tuesday, October 9th. Finally, ValuEngine upgraded Jabil from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $32.33.
In other Jabil news, CEO Alessandro Parimbelli sold 20,500 shares of the stock in a transaction that occurred on Thursday, October 4th. The stock was sold at an average price of $26.40, for a total transaction of $541,200.00. Following the transaction, the chief executive officer now owns 339,811 shares in the company, valued at $8,971,010.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President William E. Peters sold 13,915 shares of the stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $29.48, for a total value of $410,214.20. Following the transaction, the president now owns 511,562 shares in the company, valued at approximately $15,080,847.76. The disclosure for this sale can be found here. Insiders have sold 92,245 shares of company stock worth $2,589,070 in the last quarter. 2.60% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in JBL. Strs Ohio acquired a new position in shares of Jabil during the second quarter valued at approximately $30,790,000. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Jabil by 45,361.7% during the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,045,620 shares of the technology company’s stock valued at $28,922,000 after acquiring an additional 1,043,320 shares during the last quarter. Paradigm Capital Management Inc. NY acquired a new position in shares of Jabil during the second quarter valued at approximately $20,811,000. Natixis raised its holdings in shares of Jabil by 4,690.5% during the second quarter. Natixis now owns 606,663 shares of the technology company’s stock valued at $16,780,000 after acquiring an additional 593,999 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Jabil by 22.7% during the second quarter. Wells Fargo & Company MN now owns 2,280,837 shares of the technology company’s stock valued at $63,087,000 after acquiring an additional 422,627 shares during the last quarter. 93.28% of the stock is owned by institutional investors and hedge funds.
Shares of JBL traded down $0.56 during mid-day trading on Monday, reaching $25.29. The company had a trading volume of 1,819,633 shares, compared to its average volume of 1,692,339. Jabil has a 52-week low of $23.04 and a 52-week high of $31.77. The company has a quick ratio of 0.57, a current ratio of 1.04 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of 11.65 and a beta of 0.54.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 15th will be given a dividend of $0.08 per share. The ex-dividend date is Wednesday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.27%. Jabil’s dividend payout ratio is currently 14.75%.
Jabil Company Profile
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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