Several other brokerages have also recently commented on JBL. Royal Bank Of Canada increased their target price on shares of Jabil Circuit from $20.00 to $23.00 and gave the stock a sector perform rating in a report on Thursday, September 22nd. Needham & Company LLC cut shares of Jabil Circuit from a buy rating to a hold rating in a report on Thursday, September 22nd. Bank of America Corp. set a $24.00 target price on shares of Jabil Circuit and gave the stock a buy rating in a report on Tuesday, September 20th. Goldman Sachs Group Inc. upgraded shares of Jabil Circuit from a sell rating to a neutral rating and increased their target price for the stock from $16.00 to $21.00 in a report on Tuesday, September 20th. Finally, B. Riley restated a buy rating and set a $27.00 target price (up previously from $22.00) on shares of Jabil Circuit in a report on Monday, September 19th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Jabil Circuit presently has an average rating of Hold and an average target price of $30.86.
Jabil Circuit (NYSE:JBL) opened at 21.92 on Thursday. Jabil Circuit has a 12-month low of $16.78 and a 12-month high of $26.00. The company has a market cap of $4.15 billion, a P/E ratio of 16.61 and a beta of 0.87. The stock’s 50 day moving average is $21.45 and its 200 day moving average is $19.49.
Jabil Circuit (NYSE:JBL) last announced its earnings results on Wednesday, September 21st. The company reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. Jabil Circuit had a net margin of 1.38% and a return on equity of 12.22%. The business earned $4.40 billion during the quarter. During the same quarter in the previous year, the company posted $0.53 EPS. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. On average, equities analysts forecast that Jabil Circuit will post $2.07 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date was Thursday, August 11th. Jabil Circuit’s dividend payout ratio is 24.24%.
In related news, President William E. Peters sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $23.25, for a total transaction of $465,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael J. Loparco sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $22.90, for a total transaction of $45,800.00. Following the transaction, the chief executive officer now directly owns 239,092 shares in the company, valued at $5,475,206.80. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC acquired a new position in Jabil Circuit during the second quarter worth approximately $181,000. Calvert Investment Management Inc. purchased a new position in Jabil Circuit during the second quarter valued at approximately $201,000. LS Investment Advisors LLC raised its position in Jabil Circuit by 71.2% in the second quarter. LS Investment Advisors LLC now owns 11,551 shares of the company’s stock valued at $213,000 after buying an additional 4,802 shares in the last quarter. World Asset Management Inc raised its position in Jabil Circuit by 1.0% in the second quarter. World Asset Management Inc now owns 11,987 shares of the company’s stock valued at $221,000 after buying an additional 120 shares in the last quarter. Finally, LPL Financial LLC raised its position in Jabil Circuit by 22.8% in the first quarter. LPL Financial LLC now owns 11,912 shares of the company’s stock valued at $222,000 after buying an additional 2,209 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.
Jabil Circuit Company Profile
Jabil Circuit, Inc provides electronic manufacturing services and solutions. The Company provides electronic design, production and product management services to companies in the aerospace, automotive, computing, defense, digital home, energy, healthcare, industrial, instrumentation, lifestyles, mobility, mold, networking, packaging, peripherals, storage, telecommunications and wearable technology industries.
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