Jabil Circuit, Inc. (NYSE:JBL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $33.00 price target on the technology company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.25% from the company’s current price.
According to Zacks, “Jabil reported third quarter fiscal 2017 results wherein the bottom line missed the Zacks Consensus Estimate by a penny while the top line surpassed the same. Jabil is witnessing robust growth and better product placements, which is further expected to improve owing to strategic acquisitions. The realignment program is also aiding the company to significantly cut back its expenses while maintaining its production capacities. Despite a financial impact of $195 million over the next two years, this initiative should place the company well on the growth trajectory. For the fourth quarter, management expects net revenue to increase 11% (at mid point) year over year and be in the range of $4.7 billion to $5.1 billion. In past one year, shares have outperformed the broader market. However, sluggishness in mobility business, customer concentration, intensifying competition remain overhangs. “
Several other analysts also recently commented on JBL. Royal Bank Of Canada increased their price objective on Jabil Circuit from $27.00 to $31.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 15th. Bank of America Corporation reissued a “buy” rating and issued a $34.00 price objective (up from $33.00) on shares of Jabil Circuit in a research note on Monday. Stifel Nicolaus increased their price objective on Jabil Circuit from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, June 15th. BidaskClub downgraded Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Goldman Sachs Group, Inc. (The) increased their price objective on Jabil Circuit from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, March 16th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $27.18.
Jabil Circuit (JBL) traded down 1.54% on Tuesday, hitting $28.69. The company’s stock had a trading volume of 692,341 shares. Jabil Circuit has a 12 month low of $17.27 and a 12 month high of $31.70. The firm has a 50 day moving average of $29.66 and a 200-day moving average of $26.67. The stock has a market cap of $5.19 billion, a PE ratio of 44.14 and a beta of 0.58.
Jabil Circuit (NYSE:JBL) last announced its quarterly earnings results on Wednesday, June 14th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.02. The business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.40 billion. Jabil Circuit had a return on equity of 12.27% and a net margin of 0.66%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 earnings per share. On average, analysts expect that Jabil Circuit will post $2.10 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Monday, May 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Thursday, May 11th. Jabil Circuit’s payout ratio is 50.00%.
In related news, Director Thomas A. Sansone sold 25,000 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $31.25, for a total transaction of $781,250.00. Following the completion of the sale, the director now directly owns 176,688 shares of the company’s stock, valued at $5,521,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Forbes I. J. Alexander sold 4,341 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $30.00, for a total value of $130,230.00. Following the sale, the chief financial officer now directly owns 586,184 shares of the company’s stock, valued at $17,585,520. The disclosure for this sale can be found here. Insiders have sold 255,341 shares of company stock valued at $7,652,012 over the last ninety days. 2.90% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Oppenheimer & Co. Inc. acquired a new stake in shares of Jabil Circuit during the first quarter worth approximately $218,000. Boothbay Fund Management LLC acquired a new stake in shares of Jabil Circuit during the fourth quarter worth approximately $224,000. PNC Financial Services Group Inc. increased its stake in shares of Jabil Circuit by 1.3% in the first quarter. PNC Financial Services Group Inc. now owns 8,194 shares of the technology company’s stock worth $236,000 after buying an additional 109 shares during the last quarter. Symphony Asset Management LLC acquired a new stake in shares of Jabil Circuit during the first quarter worth approximately $242,000. Finally, Teza Capital Management LLC acquired a new stake in shares of Jabil Circuit during the first quarter worth approximately $287,000. 95.40% of the stock is owned by institutional investors.
Jabil Circuit Company Profile
Jabil circuit, Inc provides electronic manufacturing services and solutions throughout the world. The Company operates in two segments, which include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The Company’s EMS segment is focused on leveraging information technology (IT), supply chain design and engineering, technologies centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a range of markets.
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