Zacks Investment Research upgraded shares of Jabil (NYSE:JBL) from a sell rating to a hold rating in a report released on Wednesday morning.
According to Zacks, “Jabil is benefiting from diversification and growing customer engagement. The company continues to be driven by its DMS segment, which is backed by growing healthcare and packaging business. Jabil is also benefiting from its Green Point business. Strong performance of the EMS segment is also a catalyst. The restructuring program is also aiding the company to significantly cut back its expenses while maintaining its production capacities, thereby driving profitability. Shares outperformed the industry in the past year. Estimates have been stable lately ahead of the company’s Q3 earnings release. The company has positive record of earnings surprises in recent quarters. However, customer concentration and intensifying competition remain overhangs. Increase in investments in the EMS segment coupled with cost overshoot in the packaging business impacted margins.”
Several other equities research analysts also recently weighed in on the company. ValuEngine downgraded Jabil from a buy rating to a hold rating in a report on Wednesday, May 2nd. Standpoint Research raised Jabil from a hold rating to a buy rating in a report on Tuesday, February 27th. Finally, Goldman Sachs decreased their price target on Jabil to $24.00 and set a sell rating for the company in a report on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. Jabil has a consensus rating of Hold and an average price target of $32.90.
JBL stock opened at $27.93 on Wednesday. The company has a market capitalization of $4.93 billion, a PE ratio of 15.10, a PEG ratio of 1.14 and a beta of 0.43. Jabil has a twelve month low of $23.70 and a twelve month high of $31.77. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.04 and a quick ratio of 0.54.
Jabil (NYSE:JBL) last posted its quarterly earnings data on Thursday, March 15th. The technology company reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.04. The business had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $4.91 billion. Jabil had a return on equity of 14.31% and a net margin of 0.60%. The company’s revenue was up 19.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 earnings per share. sell-side analysts predict that Jabil will post 2.05 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Tuesday, May 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.15%. The ex-dividend date is Monday, May 14th. Jabil’s payout ratio is 17.30%.
In other Jabil news, SVP Sergio Cadavid sold 2,869 shares of the stock in a transaction on Friday, March 16th. The stock was sold at an average price of $30.00, for a total value of $86,070.00. Following the completion of the transaction, the senior vice president now owns 60,305 shares in the company, valued at $1,809,150. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President William E. Peters sold 13,915 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $26.91, for a total value of $374,452.65. The disclosure for this sale can be found here. Insiders sold 77,066 shares of company stock valued at $2,189,368 in the last quarter. 2.60% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in JBL. Creative Planning raised its position in Jabil by 66.9% in the fourth quarter. Creative Planning now owns 48,517 shares of the technology company’s stock worth $1,274,000 after acquiring an additional 19,449 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Jabil by 76.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,340,759 shares of the technology company’s stock valued at $35,195,000 after buying an additional 580,370 shares in the last quarter. Fox Run Management L.L.C. increased its position in shares of Jabil by 75.0% in the fourth quarter. Fox Run Management L.L.C. now owns 58,611 shares of the technology company’s stock valued at $1,539,000 after buying an additional 25,111 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Jabil in the fourth quarter valued at $273,000. Finally, Smith Graham & Co. Investment Advisors LP increased its position in shares of Jabil by 49.0% in the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 223,370 shares of the technology company’s stock valued at $5,863,000 after buying an additional 73,430 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.
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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