Jabil Circuit Inc. (JBL) Receives Average Rating of “Buy” from Analysts
Shares of Jabil Circuit Inc. (NYSE:JBL) have been given an average rating of “Buy” by the sixteen research firms that are presently covering the firm. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $32.36.
JBL has been the topic of a number of recent research reports. Needham & Company LLC cut Jabil Circuit from a “buy” rating to a “hold” rating in a research note on Thursday, September 22nd. B. Riley restated a “buy” rating and set a $27.00 price objective (up previously from $22.00) on shares of Jabil Circuit in a research note on Monday, September 19th. Citigroup Inc. boosted their price objective on Jabil Circuit from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, September 22nd. Goldman Sachs Group Inc. restated a “neutral” rating and set a $23.00 price objective (up previously from $21.00) on shares of Jabil Circuit in a research note on Friday, September 30th. Finally, Deutsche Bank AG boosted their price objective on Jabil Circuit from $18.00 to $20.00 and gave the stock a “hold” rating in a research note on Thursday, September 22nd.
In other Jabil Circuit news, CEO Michael J. Loparco sold 2,000 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $21.90, for a total value of $43,800.00. Following the transaction, the chief executive officer now owns 241,092 shares of the company’s stock, valued at $5,279,914.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President William E. Peters sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $23.25, for a total value of $465,000.00. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its position in Jabil Circuit by 0.4% in the first quarter. State Street Corp now owns 6,957,106 shares of the company’s stock valued at $134,060,000 after buying an additional 29,792 shares in the last quarter. Frontier Capital Management Co. LLC increased its stake in shares of Jabil Circuit by 26.6% in the second quarter. Frontier Capital Management Co. LLC now owns 2,839,072 shares of the company’s stock valued at $52,438,000 after buying an additional 597,003 shares during the period. Eqis Capital Management Inc. increased its stake in shares of Jabil Circuit by 4.6% in the second quarter. Eqis Capital Management Inc. now owns 15,195 shares of the company’s stock valued at $281,000 after buying an additional 673 shares during the period. Deprince Race & Zollo Inc. purchased a new stake in shares of Jabil Circuit during the second quarter valued at about $48,592,000. Finally, Retirement Systems of Alabama increased its stake in shares of Jabil Circuit by 0.4% in the second quarter. Retirement Systems of Alabama now owns 246,624 shares of the company’s stock valued at $4,555,000 after buying an additional 918 shares during the period. 89.93% of the stock is currently owned by institutional investors.
Shares of Jabil Circuit (NYSE:JBL) opened at 21.65 on Tuesday. The company has a 50 day moving average price of $21.54 and a 200-day moving average price of $20.08. The firm has a market capitalization of $4.02 billion, a PE ratio of 16.40 and a beta of 0.94. Jabil Circuit has a 12 month low of $16.78 and a 12 month high of $26.00.
Jabil Circuit (NYSE:JBL) last issued its earnings results on Wednesday, September 21st. The company reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. Jabil Circuit had a return on equity of 12.22% and a net margin of 1.38%. The firm had revenue of $4.40 billion for the quarter. During the same quarter in the previous year, the business posted $0.53 EPS. Jabil Circuit’s revenue was down 6.0% compared to the same quarter last year. Equities research analysts expect that Jabil Circuit will post $2.06 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $0.32 annualized dividend and a dividend yield of 1.48%. Jabil Circuit’s dividend payout ratio is presently 24.24%.
About Jabil Circuit
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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