Jabil (NYSE:JBL) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Jabil (NYSE:JBL) issued its earnings results on Thursday. The technology company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04, Briefing.com reports. Jabil had a net margin of 4.70% and a return on equity of 39.47%. The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.53 billion. During the same period last year, the business posted $1.85 EPS. Jabil’s revenue was down 20.2% on a year-over-year basis. Jabil updated its Q4 guidance to $2.03-2.43 EPS.

Jabil Stock Performance

Shares of NYSE:JBL opened at $111.78 on Friday. The company’s 50 day simple moving average is $120.10 and its 200 day simple moving average is $128.09. The stock has a market capitalization of $13.48 billion, a price-to-earnings ratio of 9.59, a price-to-earnings-growth ratio of 1.58 and a beta of 1.35. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.17 and a quick ratio of 0.72. Jabil has a 1 year low of $100.18 and a 1 year high of $156.94.

Jabil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Wednesday, May 15th were paid a $0.08 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.29%. Jabil’s dividend payout ratio (DPR) is 2.75%.

Insider Activity at Jabil

In related news, CEO Kenneth S. Wilson sold 15,000 shares of Jabil stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $134.20, for a total value of $2,013,000.00. Following the transaction, the chief executive officer now directly owns 339,725 shares of the company’s stock, valued at $45,591,095. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Jabil news, CEO Kenneth S. Wilson sold 15,000 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $134.20, for a total transaction of $2,013,000.00. Following the sale, the chief executive officer now owns 339,725 shares of the company’s stock, valued at $45,591,095. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP May Yee Yap sold 7,877 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $139.65, for a total transaction of $1,100,023.05. Following the sale, the senior vice president now directly owns 29,006 shares in the company, valued at approximately $4,050,687.90. The disclosure for this sale can be found here. Insiders have sold 25,877 shares of company stock valued at $3,519,883 over the last three months. 2.62% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on JBL. Barclays cut their target price on shares of Jabil from $151.00 to $149.00 and set an “overweight” rating for the company in a research note on Monday, March 18th. The Goldman Sachs Group raised their price objective on shares of Jabil from $141.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. StockNews.com upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Argus downgraded shares of Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Jabil from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Jabil has an average rating of “Buy” and an average target price of $147.14.

About Jabil

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).