Jabil (NYSE:JBL) Posts Earnings Results, Beats Estimates By $0.10 EPS

Jabil (NYSE:JBLGet Rating) issued its earnings results on Thursday. The technology company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.10, RTT News reports. Jabil had a return on equity of 37.88% and a net margin of 2.69%. During the same period last year, the business posted $1.12 earnings per share. Jabil updated its FY 2022 guidance to $7.45-$7.45 EPS and its Q4 2022 guidance to $1.94-$2.34 EPS.

JBL traded up $0.59 during midday trading on Friday, reaching $53.61. 2,742,584 shares of the company were exchanged, compared to its average volume of 874,824. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.55 and a current ratio of 1.04. The company’s fifty day moving average price is $58.54 and its 200 day moving average price is $61.11. The company has a market cap of $7.57 billion, a price-to-earnings ratio of 9.21, a price-to-earnings-growth ratio of 0.68 and a beta of 1.37. Jabil has a one year low of $51.90 and a one year high of $72.11.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 2nd. Shareholders of record on Monday, May 16th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Friday, May 13th. Jabil’s dividend payout ratio is currently 5.50%.

A number of brokerages recently commented on JBL. The Goldman Sachs Group decreased their target price on Jabil from $78.00 to $69.00 and set a “buy” rating for the company in a research report on Wednesday, June 1st. Citigroup decreased their target price on Jabil from $90.00 to $80.00 in a research report on Friday. Finally, StockNews.com raised Jabil from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 15th. Four research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $75.67.

In other news, Director Anousheh Ansari sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $62.00, for a total value of $217,000.00. Following the transaction, the director now owns 37,400 shares in the company, valued at approximately $2,318,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark T. Mondello sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $62.20, for a total value of $746,400.00. Following the completion of the transaction, the chief executive officer now owns 2,055,589 shares in the company, valued at approximately $127,857,635.80. The disclosure for this sale can be found here. Insiders own 2.59% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Zions Bancorporation N.A. purchased a new position in Jabil in the first quarter valued at approximately $40,000. Forum Financial Management LP purchased a new position in Jabil in the fourth quarter valued at approximately $228,000. Point72 Hong Kong Ltd lifted its stake in Jabil by 223.5% in the first quarter. Point72 Hong Kong Ltd now owns 3,600 shares of the technology company’s stock valued at $222,000 after purchasing an additional 2,487 shares during the last quarter. Delphia USA Inc. purchased a new position in Jabil in the first quarter valued at approximately $227,000. Finally, Brown Brothers Harriman & Co. purchased a new position in Jabil in the first quarter valued at approximately $236,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

About Jabil (Get Rating)

Jabil Inc provides manufacturing services and solutions worldwide. The company operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides electronic 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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Earnings History for Jabil (NYSE:JBL)

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