Jabil (NYSE:JBL) Issues Q3 Earnings Guidance

Jabil (NYSE:JBLGet Free Report) issued an update on its third quarter earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $1.65-2.05 for the period, compared to the consensus estimate of $2.12. The company issued revenue guidance of $6.20-6.80 billion, compared to the consensus revenue estimate of $7.37 billion. Jabil also updated its FY24 guidance to $8.40 EPS.

Jabil Price Performance

Shares of NYSE JBL opened at $147.55 on Friday. The company has a fifty day moving average price of $135.64 and a 200 day moving average price of $127.37. Jabil has a 1-year low of $74.16 and a 1-year high of $156.94. The company has a current ratio of 1.12, a quick ratio of 0.73 and a debt-to-equity ratio of 1.13. The firm has a market cap of $18.82 billion, a PE ratio of 25.18, a PEG ratio of 1.51 and a beta of 1.41.

Jabil (NYSE:JBLGet Free Report) last posted its quarterly earnings data on Thursday, December 14th. The technology company reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.02. The company had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Jabil had a net margin of 2.36% and a return on equity of 41.09%. The company’s quarterly revenue was down 13.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.61 EPS. Research analysts predict that Jabil will post 8.22 earnings per share for the current fiscal year.

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Thursday, February 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.22%. Jabil’s payout ratio is 5.46%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Stifel Nicolaus increased their price target on shares of Jabil from $135.00 to $140.00 and gave the company a buy rating in a report on Friday, December 15th. The Goldman Sachs Group upped their price target on Jabil from $141.00 to $161.00 and gave the stock a buy rating in a research note on Monday, March 4th. JPMorgan Chase & Co. decreased their price objective on Jabil from $150.00 to $146.00 and set an overweight rating for the company in a report on Wednesday, November 29th. Finally, Barclays reduced their target price on Jabil from $153.00 to $151.00 and set an overweight rating for the company in a report on Wednesday, January 17th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Jabil has an average rating of Buy and a consensus target price of $144.75.

Get Our Latest Stock Report on Jabil

Insider Activity at Jabil

In related news, CEO Steven D. Borges sold 14,175 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $130.00, for a total value of $1,842,750.00. Following the sale, the chief executive officer now directly owns 103,086 shares of the company’s stock, valued at $13,401,180. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Steven D. Borges sold 14,175 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $130.00, for a total value of $1,842,750.00. Following the sale, the chief executive officer now directly owns 103,086 shares of the company’s stock, valued at $13,401,180. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Roberto Ferri sold 6,183 shares of the firm’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $129.97, for a total transaction of $803,604.51. Following the completion of the sale, the senior vice president now owns 37,512 shares of the company’s stock, valued at $4,875,434.64. The disclosure for this sale can be found here. Insiders have sold a total of 55,658 shares of company stock valued at $7,011,771 over the last 90 days. 2.62% of the stock is owned by insiders.

Institutional Investors Weigh In On Jabil

A number of large investors have recently added to or reduced their stakes in JBL. Amundi lifted its stake in shares of Jabil by 419.8% during the 4th quarter. Amundi now owns 421 shares of the technology company’s stock valued at $32,000 after buying an additional 340 shares in the last quarter. Zions Bancorporation N.A. purchased a new position in shares of Jabil during the 1st quarter valued at $40,000. Natixis purchased a new position in shares of Jabil during the 4th quarter valued at $44,000. GeoWealth Management LLC purchased a new position in shares of Jabil during the 1st quarter valued at $53,000. Finally, Salem Investment Counselors Inc. lifted its stake in shares of Jabil by 79.2% during the 4th quarter. Salem Investment Counselors Inc. now owns 905 shares of the technology company’s stock valued at $62,000 after buying an additional 400 shares in the last quarter. Institutional investors own 92.88% of the company’s stock.

Jabil Company Profile

(Get Free Report)

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).

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Earnings History and Estimates for Jabil (NYSE:JBL)

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