Jabil (NYSE:JBL) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Jabil (NYSE:JBL) posted its earnings results on Thursday. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.08, Briefing.com reports. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.59 billion. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The company’s revenue for the quarter was down 17.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.34 earnings per share.

Jabil Stock Performance

Shares of NYSE:JBL traded down $4.31 on Friday, reaching $122.34. 2,053,555 shares of the company’s stock were exchanged, compared to its average volume of 1,494,039. Jabil has a fifty-two week low of $95.85 and a fifty-two week high of $156.94. The business’s 50-day moving average is $107.42 and its two-hundred day moving average is $116.72. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $13.88 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 2.23 and a beta of 1.25.

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend was Thursday, August 15th. Jabil’s dividend payout ratio is presently 2.91%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Bank of America boosted their price objective on shares of Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday. Barclays raised their target price on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research note on Friday. Stifel Nicolaus boosted their price target on Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday. Finally, UBS Group lowered their price objective on Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, June 21st. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $145.75.

Insider Activity at Jabil

In other news, EVP Frederic E. Mccoy sold 1,250 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $116.42, for a total transaction of $145,525.00. Following the sale, the executive vice president now directly owns 112,753 shares in the company, valued at approximately $13,126,704.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Frederic E. Mccoy sold 1,250 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $116.42, for a total value of $145,525.00. Following the sale, the executive vice president now owns 112,753 shares of the company’s stock, valued at approximately $13,126,704.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP May Yee Yap sold 4,274 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total transaction of $500,228.96. Following the completion of the transaction, the senior vice president now owns 24,829 shares of the company’s stock, valued at approximately $2,905,986.16. The disclosure for this sale can be found here. Insiders own 2.62% of the company’s stock.

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).