Zacks Investment Research upgraded shares of Jabil Circuit Inc. (NYSE:JBL) from a hold rating to a strong-buy rating in a report released on Wednesday. They currently have $25.00 target price on the stock.
According to Zacks, “Jabil Circuit reported better-than-expected fourth quarter fiscal 2016 results with both the top and bottom lines beating expectations. However, a weak macroeconomic scenario resulted in a year-over- year decline on both counts. Nonetheless, the company’s DMS business performed better than guided owing to increased demand from Apple in the quarter. Going ahead, opportunities in the healthcare and packaging business should drive top-line growth. The company recently initiated a restructuring program in order to optimize its use of resources. We expect this to be a growth driver in the long run. However, at present, stagnating sales are an overhang for Jabil. This apart, customer concentration, intensifying competition and increasing investments remain concerns.”
Other research analysts have also issued research reports about the stock. B. Riley reaffirmed a buy rating and issued a $26.00 target price on shares of Jabil Circuit in a research note on Monday, June 13th. Royal Bank Of Canada reaffirmed a hold rating on shares of Jabil Circuit in a research note on Saturday, June 18th. Raymond James Financial Inc. reaffirmed a buy rating on shares of Jabil Circuit in a research note on Wednesday, July 27th. Argus reaffirmed a hold rating on shares of Jabil Circuit in a research note on Thursday, June 16th. Finally, Needham & Company LLC lowered shares of Jabil Circuit from a buy rating to a hold rating in a research note on Thursday, September 22nd. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Jabil Circuit currently has an average rating of Buy and an average price target of $30.79.
Shares of Jabil Circuit (NYSE:JBL) traded down 1.14% on Wednesday, reaching $21.75. 650,596 shares of the company were exchanged. The stock has a market capitalization of $4.11 billion, a P/E ratio of 16.48 and a beta of 0.87. Jabil Circuit has a 12 month low of $16.78 and a 12 month 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.
Jabil Circuit (NYSE:JBL) last issued its quarterly earnings data on Wednesday, September 21st. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Jabil Circuit had a net margin of 1.38% and a return on equity of 12.22%. The firm had revenue of $4.40 billion for the quarter. During the same period in the prior year, the company earned $0.53 EPS. The firm’s revenue was down 6.0% compared to the same quarter last year. On average, equities analysts expect that Jabil Circuit will post $2.07 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were issued a $0.08 dividend. 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 related news, CEO Michael J. Loparco sold 5,000 shares of the firm’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $20.23, for a total value of $101,150.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President William E. Peters sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $23.25, for a total transaction of $465,000.00. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in JBL. Quantitative Systematic Strategies LLC purchased a new position in Jabil Circuit during the second quarter valued at $181,000. Calvert Investment Management Inc. purchased a new position in Jabil Circuit during the second quarter valued at $201,000. LS Investment Advisors LLC boosted 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. LPL Financial LLC boosted 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. Finally, World Asset Management Inc boosted 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. 89.92% of the stock is 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Jabil Circuit Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jabil Circuit Inc. and related companies with MarketBeat.com's FREE daily email newsletter.