Jabil (NYSE:JBL) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Jabil (NYSE:JBL) posted its quarterly earnings data on Tuesday. The technology company reported $1.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.06, MarketWatch Earnings reports. The business had revenue of $7.40 billion during the quarter, compared to the consensus estimate of $7.67 billion. Jabil had a net margin of 2.02% and a return on equity of 29.25%. Jabil’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 EPS.

JBL traded up $1.14 during midday trading on Thursday, hitting $58.37. The company had a trading volume of 1,828,908 shares, compared to its average volume of 890,032. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.64 and a current ratio of 1.04. The company has a market capitalization of $8.51 billion, a PE ratio of 15.12, a P/E/G ratio of 1.04 and a beta of 1.36. Jabil has a twelve month low of $31.41 and a twelve month high of $63.78. The firm’s 50-day simple moving average is $60.30 and its 200-day simple moving average is $56.63.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 2nd. Shareholders of record on Friday, August 13th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.55%. The ex-dividend date was Thursday, August 12th. Jabil’s payout ratio is presently 91.43%.

Jabil announced that its board has authorized a stock repurchase plan on Friday, July 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to reacquire up to 11.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Several analysts recently issued reports on the stock. Zacks Investment Research raised shares of Jabil from a “hold” rating to a “strong-buy” rating and set a $65.00 price objective for the company in a report on Tuesday, June 22nd. increased their price target on shares of Jabil from $70.00 to $80.00 and gave the company a “buy” rating in a report on Friday, June 18th. Raymond James increased their price target on shares of Jabil from $66.00 to $70.00 and gave the company a “strong-buy” rating in a report on Thursday. Citigroup increased their price target on shares of Jabil from $80.00 to $90.00 and gave the company a “buy” rating in a report on Thursday. Finally, Stifel Nicolaus raised shares of Jabil from a “hold” rating to a “buy” rating and raised their price objective for the stock from $63.00 to $68.00 in a report on Thursday. Two analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Jabil has an average rating of “Buy” and an average price target of $64.22.

In related news, Director Thomas A. Sansone sold 25,000 shares of Jabil stock in a transaction that occurred on Thursday, July 29th. The shares were sold at an average price of $59.25, for a total transaction of $1,481,250.00. Following the transaction, the director now owns 204,588 shares of the company’s stock, valued at approximately $12,121,839. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Loparco sold 3,000 shares of Jabil stock in a transaction that occurred on Monday, August 2nd. The stock was sold at an average price of $60.33, for a total transaction of $180,990.00. The disclosure for this sale can be found here. Insiders sold a total of 105,581 shares of company stock valued at $6,358,940 in the last 90 days. Corporate insiders own 2.81% of the company’s stock.

A hedge fund recently raised its stake in Jabil stock. Morgan Stanley increased its position in shares of Jabil Inc. (NYSE:JBL) by 17.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 711,983 shares of the technology company’s stock after buying an additional 108,120 shares during the period. Morgan Stanley owned 0.49% of Jabil worth $41,381,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 88.93% of the company’s stock.

About Jabil

Jabil, Inc engages in the provision of electronic manufacturing services and solutions. It offers electronics design, production, product management, and repair services to companies in the automotive and transportation, capital equipment, consumer lifestyles and wearable technologies, computing and storage, defense and aerospace, digital home, healthcare, industrial and energy, mobility, networking and telecommunications, packaging, point of sale, and printing industries.

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Earnings History for Jabil (NYSE:JBL)

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