Jabil Circuit, Inc. (NYSE:JBL) has earned a consensus recommendation of “Buy” from the seventeen research firms that are covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $29.27.
JBL has been the topic of a number of analyst reports. Zacks Investment Research downgraded Jabil Circuit from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. ValuEngine raised Jabil Circuit from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 target price on shares of Jabil Circuit in a report on Tuesday, June 13th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $27.00 target price on shares of Jabil Circuit in a report on Tuesday, May 2nd. Finally, BidaskClub downgraded Jabil Circuit from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th.
In related news, CEO Michael J. Loparco sold 5,000 shares of Jabil Circuit stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $29.90, for a total value of $149,500.00. Following the sale, the chief executive officer now owns 244,486 shares of the company’s stock, valued at approximately $7,310,131.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas A. Sansone sold 25,000 shares of Jabil Circuit stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $31.25, for a total transaction of $781,250.00. Following the completion of the sale, the director now directly owns 176,688 shares in the company, valued at approximately $5,521,500. The disclosure for this sale can be found here. In the last three months, insiders have sold 275,495 shares of company stock worth $8,291,142. Insiders own 2.90% of the company’s stock.
Large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its stake in shares of Jabil Circuit by 1.3% in the first quarter. PNC Financial Services Group Inc. now owns 8,194 shares of the technology company’s stock worth $236,000 after buying an additional 109 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Jabil Circuit by 0.4% in the second quarter. Meeder Asset Management Inc. now owns 50,734 shares of the technology company’s stock worth $1,482,000 after buying an additional 194 shares during the last quarter. Greenwich Wealth Management LLC boosted its stake in shares of Jabil Circuit by 1.0% in the first quarter. Greenwich Wealth Management LLC now owns 24,330 shares of the technology company’s stock worth $704,000 after buying an additional 230 shares during the last quarter. Pegasus Partners Ltd. boosted its stake in shares of Jabil Circuit by 0.7% in the first quarter. Pegasus Partners Ltd. now owns 32,719 shares of the technology company’s stock worth $946,000 after buying an additional 232 shares during the last quarter. Finally, Advantus Capital Management Inc boosted its stake in shares of Jabil Circuit by 1.2% in the first quarter. Advantus Capital Management Inc now owns 23,332 shares of the technology company’s stock worth $675,000 after buying an additional 268 shares during the last quarter. 94.92% of the stock is currently owned by institutional investors and hedge funds.
Shares of Jabil Circuit (NYSE:JBL) traded down 1.28% during mid-day trading on Monday, hitting $30.79. The stock had a trading volume of 644,301 shares. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 47.37 and a beta of 0.56. Jabil Circuit has a one year low of $19.97 and a one year high of $31.70. The company has a 50-day moving average of $29.97 and a 200 day moving average of $28.18.
Jabil Circuit (NYSE:JBL) last posted its earnings results on Wednesday, June 14th. The technology company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.29 by $0.02. Jabil Circuit had a return on equity of 12.27% and a net margin of 0.66%. The company had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.40 billion. During the same quarter in the prior year, the business earned $0.17 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities research analysts forecast that Jabil Circuit will post $2.10 earnings per share for the current year.
Jabil Circuit declared that its board has approved a stock buyback program on Thursday, July 20th that permits the company to buyback $450.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 8.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.32 dividend on an annualized basis and a yield of 1.03%. Jabil Circuit’s dividend payout ratio (DPR) is currently 50.00%.
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Jabil Circuit Company Profile
Jabil Inc, formerly Jabil Circuit, Inc, provides electronic manufacturing services and solutions throughout the world. The Company operates in two segments, which include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The Company’s EMS segment is focused on leveraging information technology (IT), supply chain design and engineering, technologies centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a range of markets.
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