RBC Capital Markets reissued their sector perform rating on shares of Jabil Circuit Inc. (NYSE:JBL) in a report released on Friday. The brokerage currently has a $23.00 price target on the stock, up from their previous price target of $20.00.
Other research analysts also recently issued research reports about the company. UBS AG cut their price target on Jabil Circuit from $22.00 to $20.00 and set a buy rating for the company in a research note on Thursday, June 16th. B. Riley reiterated a buy rating and set a $22.00 price target on shares of Jabil Circuit in a research note on Saturday, June 18th. Needham & Company LLC reiterated a buy rating on shares of Jabil Circuit in a research note on Friday, June 17th. Bank of America Corp. reiterated a buy rating on shares of Jabil Circuit in a research note on Thursday, June 16th. Finally, Raymond James Financial Inc. restated a buy rating on shares of Jabil Circuit in a research note on Wednesday, July 27th. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $30.79.
Jabil Circuit (NYSE:JBL) opened at 22.00 on Friday. Jabil Circuit has a 1-year low of $16.78 and a 1-year high of $26.00. The stock has a 50 day moving average price of $21.49 and a 200 day moving average price of $19.51. The firm has a market cap of $4.16 billion, a P/E ratio of 16.67 and a beta of 0.87.
Jabil Circuit (NYSE:JBL) last posted its quarterly earnings results on Wednesday, September 21st. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. The company earned $4.40 billion during the quarter. Jabil Circuit had a return on equity of 12.22% and a net margin of 1.38%. The firm’s revenue was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. On average, analysts anticipate that Jabil Circuit will post $2.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, August 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.45%. Jabil Circuit’s dividend payout ratio (DPR) is presently 24.24%.
In other news, CEO Michael J. Loparco sold 2,000 shares of Jabil Circuit stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $21.90, for a total transaction of $43,800.00. Following the completion of the sale, the chief executive officer now owns 241,092 shares in the company, valued at approximately $5,279,914.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President William E. Peters sold 20,000 shares of Jabil Circuit stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $23.25, for a total value of $465,000.00. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.
Several hedge funds have recently modified their holdings of JBL. FMR LLC increased its stake in shares of Jabil Circuit by 57.2% in the second quarter. FMR LLC now owns 16,352,044 shares of the company’s stock worth $302,022,000 after buying an additional 5,952,664 shares during the period. Deprince Race & Zollo Inc. acquired a new stake in shares of Jabil Circuit during the second quarter worth about $48,592,000. Norges Bank acquired a new stake in shares of Jabil Circuit during the fourth quarter worth about $46,756,000. Emerald Acquisition Ltd. acquired a new stake in shares of Jabil Circuit during the second quarter worth about $23,781,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Jabil Circuit by 251.6% in the first quarter. JPMorgan Chase & Co. now owns 1,632,426 shares of the company’s stock worth $31,457,000 after buying an additional 1,168,082 shares during the period. Hedge funds and other institutional investors own 89.92% of the company’s stock.
About Jabil Circuit
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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