Brokerages predict that Jabil Inc (NYSE:JBL) will report sales of $6.25 billion for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Jabil’s earnings. The lowest sales estimate is $6.23 billion and the highest is $6.27 billion. Jabil posted sales of $6.57 billion in the same quarter last year, which suggests a negative year over year growth rate of 4.9%. The company is expected to issue its next quarterly earnings results before the market opens on Thursday, September 24th.
According to Zacks, analysts expect that Jabil will report full year sales of $26.22 billion for the current fiscal year, with estimates ranging from $26.20 billion to $26.23 billion. For the next financial year, analysts anticipate that the business will post sales of $26.47 billion, with estimates ranging from $25.99 billion to $26.79 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Jabil.
JBL has been the subject of several research analyst reports. Citigroup upped their price objective on shares of Jabil from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, September 18th. Goldman Sachs Group raised shares of Jabil from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $36.00 to $40.00 in a report on Wednesday, July 15th. Royal Bank of Canada upped their price objective on shares of Jabil from $30.00 to $35.00 and gave the stock a “sector perform” rating in a report on Monday, June 22nd. JPMorgan Chase & Co. upped their price objective on shares of Jabil from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Finally, Zacks Investment Research raised shares of Jabil from a “sell” rating to a “hold” rating and set a $36.00 price objective for the company in a report on Monday, August 24th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $38.44.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Friday, August 14th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, August 13th. This represents a $0.32 annualized dividend and a yield of 0.96%. Jabil’s payout ratio is presently 17.68%.
In other Jabil news, Director Timothy L. Main sold 15,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $35.00, for a total transaction of $525,000.00. Following the sale, the director now owns 292,583 shares in the company, valued at approximately $10,240,405. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.81% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC increased its holdings in shares of Jabil by 318.4% in the 1st quarter. SG Americas Securities LLC now owns 12,017 shares of the technology company’s stock valued at $295,000 after purchasing an additional 9,145 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Jabil by 33.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,760 shares of the technology company’s stock valued at $289,000 after buying an additional 2,939 shares in the last quarter. AE Wealth Management LLC bought a new stake in shares of Jabil in the 1st quarter valued at approximately $286,000. Aigen Investment Management LP bought a new stake in shares of Jabil in the 1st quarter valued at approximately $221,000. Finally, Swiss National Bank grew its stake in shares of Jabil by 1.1% in the 1st quarter. Swiss National Bank now owns 266,400 shares of the technology company’s stock valued at $6,548,000 after buying an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 89.50% of the company’s stock.
Jabil Company Profile
Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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).
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