Jabil Circuit Inc. (JBL) to Post Q1 2018 Earnings of $0.63 Per Share, B. Riley Forecasts
Jabil Circuit Inc. (NYSE:JBL) – Stock analysts at B. Riley lifted their Q1 2018 earnings per share (EPS) estimates for shares of Jabil Circuit in a research note issued to investors on Thursday. B. Riley analyst H. Francois now expects that the brokerage will post earnings per share of $0.63 for the quarter, up from their prior estimate of $0.57. B. Riley has a “Buy” rating and a $27.00 price objective on the stock.
Jabil Circuit (NYSE:JBL) last released its quarterly earnings results on Wednesday, September 21st. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. The firm had revenue of $4.40 billion for the quarter. Jabil Circuit had a return on equity of 12.22% and a net margin of 1.38%. The business’s revenue was down 6.0% on a year-over-year basis. During the same period last year, the firm posted $0.53 earnings per share.
JBL has been the topic of several other reports. Raymond James Financial Inc. raised Jabil Circuit from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $21.00 to $26.00 in a research report on Friday, July 15th. Goldman Sachs Group Inc. raised Jabil Circuit from a “sell” rating to a “neutral” rating and upped their price target for the company from $16.00 to $21.00 in a research report on Tuesday, September 20th. Needham & Company LLC reissued a “buy” rating and set a $23.00 price target on shares of Jabil Circuit in a research report on Tuesday, September 20th. RBC Capital Markets reissued a “sector perform” rating and set a $23.00 price target (up from $20.00) on shares of Jabil Circuit in a research report on Friday, September 23rd. Finally, UBS AG dropped their price target on Jabil Circuit from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, June 16th. Nine research analysts have 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. The company currently has an average rating of “Buy” and an average target price of $30.93.
Jabil Circuit (NYSE:JBL) traded up 2.07% during trading on Monday, reaching $22.19. The company had a trading volume of 350,862 shares. The company has a market capitalization of $4.20 billion, a P/E ratio of 16.81 and a beta of 1.03. The stock has a 50 day moving average of $21.59 and a 200-day moving average of $19.53. Jabil Circuit has a 12 month low of $16.78 and a 12 month high of $26.00.
In related news, CEO Michael J. Loparco sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $21.90, for a total transaction of $43,800.00. Following the completion of the sale, the chief executive officer now owns 241,092 shares in the company, valued at approximately $5,279,914.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael J. Loparco sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $20.23, for a total value of $101,150.00. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in JBL. Quantitative Systematic Strategies LLC acquired a new stake in shares of Jabil Circuit during the second quarter valued at $181,000. Calvert Investment Management Inc. purchased a new stake in shares of Jabil Circuit during the second quarter worth approximately $201,000. LS Investment Advisors LLC increased its stake in shares of Jabil Circuit by 71.2% in the second quarter. LS Investment Advisors LLC now owns 11,551 shares of the company’s stock worth $213,000 after buying an additional 4,802 shares in the last quarter. World Asset Management Inc increased its stake in shares of Jabil Circuit by 1.0% in the second quarter. World Asset Management Inc now owns 11,987 shares of the company’s stock worth $221,000 after buying an additional 120 shares in the last quarter. Finally, M&T Bank Corp increased its stake in shares of Jabil Circuit by 34.4% in the first quarter. M&T Bank Corp now owns 12,717 shares of the company’s stock worth $244,000 after buying an additional 3,256 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.
Jabil Circuit Company Profile
Jabil Circuit, Inc provides electronic manufacturing services and solutions. The Company provides electronic design, production and product management services to companies in the aerospace, automotive, computing, defense, digital home, energy, healthcare, industrial, instrumentation, lifestyles, mobility, mold, networking, packaging, peripherals, storage, telecommunications and wearable technology industries.
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