Jabil (NYSE:JBL) Reaches New 1-Year High on Strong Earnings

Jabil, Inc. (NYSE:JBL)’s stock price reached a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $203.90 and last traded at $196.42, with a volume of 6193307 shares. The stock had previously closed at $180.82.

The technology company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.28 by $0.27. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The business had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.03 billion. During the same quarter last year, the company earned $1.89 EPS. The firm’s revenue was up 15.7% compared to the same quarter last year.

Jabil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th were paid a $0.08 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 annualized dividend and a yield of 0.16%. Jabil’s dividend payout ratio is currently 6.21%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on JBL. Wall Street Zen upgraded Jabil from a “hold” rating to a “buy” rating in a research note on Monday, May 19th. Barclays raised their target price on Jabil from $206.00 to $223.00 and gave the stock an “overweight” rating in a research note on Tuesday. UBS Group raised their target price on Jabil from $157.00 to $208.00 and gave the stock a “neutral” rating in a research note on Wednesday. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $230.00 price target (up previously from $170.00) on shares of Jabil in a report on Wednesday. Finally, Argus raised Jabil from a “hold” rating to a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Jabil presently has an average rating of “Buy” and a consensus price target of $200.00.

Insider Buying and Selling at Jabil

In related news, CEO Michael Dastoor sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $169.90, for a total transaction of $1,699,000.00. Following the transaction, the chief executive officer now directly owns 221,693 shares of the company’s stock, valued at approximately $37,665,640.70. This trade represents a 4.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Mark T. Mondello sold 20,000 shares of the firm’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $166.75, for a total value of $3,335,000.00. Following the transaction, the chairman now directly owns 1,710,192 shares in the company, valued at approximately $285,174,516. This represents a 1.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock valued at $7,665,200 in the last 90 days. Corporate insiders own 1.73% of the company’s stock.

Hedge Funds Weigh In On Jabil

Large investors have recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in shares of Jabil during the 4th quarter valued at about $27,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Jabil during the 1st quarter valued at about $27,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Jabil during the 4th quarter valued at about $29,000. Harbor Capital Advisors Inc. increased its stake in Jabil by 110.5% in the 1st quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company’s stock worth $30,000 after purchasing an additional 116 shares during the period. Finally, Groupe la Francaise increased its stake in Jabil by 35.2% in the 1st quarter. Groupe la Francaise now owns 246 shares of the technology company’s stock worth $34,000 after purchasing an additional 64 shares during the period. 93.39% of the stock is owned by hedge funds and other institutional investors.

Jabil Stock Up 3.8%

The company has a current ratio of 0.98, a quick ratio of 0.66 and a debt-to-equity ratio of 1.85. The stock has a 50 day simple moving average of $160.72 and a 200 day simple moving average of $152.47. The firm has a market capitalization of $21.95 billion, a PE ratio of 39.69, a PEG ratio of 1.97 and a beta of 1.14.

Jabil Company Profile

Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; 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).