Jabil Circuit Inc. (JBL) Upgraded by Standpoint Research to Buy
JBL has been the subject of several other reports. Goldman Sachs Group Inc. upgraded Jabil Circuit from a sell rating to a neutral rating and boosted their price target for the company from $16.00 to $21.00 in a research note on Tuesday, September 20th. Needham & Company LLC restated a buy rating and set a $23.00 target price on shares of Jabil Circuit in a research note on Tuesday, September 20th. RBC Capital Markets restated a sector perform rating and set a $23.00 target price (up from $20.00) on shares of Jabil Circuit in a research note on Friday, September 23rd. B. Riley restated a buy rating and set a $27.00 target price on shares of Jabil Circuit in a research note on Tuesday, October 4th. Finally, Zacks Investment Research cut Jabil Circuit from a strong-buy rating to a hold rating in a research note on Tuesday, November 22nd. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $30.93.
Shares of Jabil Circuit (NYSE:JBL) opened at 21.39 on Monday. The stock has a 50 day moving average price of $21.33 and a 200 day moving average price of $20.42. The firm has a market capitalization of $3.97 billion, a PE ratio of 16.20 and a beta of 0.94. Jabil Circuit has a 1-year low of $16.78 and a 1-year high of $26.00.
Jabil Circuit (NYSE:JBL) last issued its quarterly earnings results on Wednesday, September 21st. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. The business earned $4.40 billion during the quarter. Jabil Circuit had a return on equity of 12.22% and a net margin of 1.38%. The company’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 earnings per share. Equities research analysts anticipate that Jabil Circuit will post $2.06 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be given a $0.08 dividend. The ex-dividend date is Thursday, November 10th. This represents a $0.32 annualized dividend and a yield of 1.50%. Jabil Circuit’s payout ratio is 24.24%.
In other Jabil Circuit news, CEO Michael J. Loparco sold 2,000 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $21.90, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President William E. Peters sold 20,000 shares of the stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $23.25, for a total transaction of $465,000.00. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. raised its stake in Jabil Circuit by 63.7% in the first quarter. Envestnet Asset Management Inc. now owns 41,482 shares of the company’s stock valued at $799,000 after buying an additional 16,146 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in Jabil Circuit by 3.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 174,441 shares of the company’s stock valued at $3,361,000 after buying an additional 5,972 shares during the period. Squarepoint Ops LLC purchased a new stake in Jabil Circuit during the first quarter valued at approximately $692,000. Origin Asset Management LLP raised its stake in Jabil Circuit by 19.0% in the first quarter. Origin Asset Management LLP now owns 307,924 shares of the company’s stock valued at $5,934,000 after buying an additional 49,187 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in Jabil Circuit by 10.3% in the second quarter. BNP Paribas Arbitrage SA now owns 338,303 shares of the company’s stock valued at $6,248,000 after buying an additional 31,464 shares during the period. Hedge funds and other institutional investors own 92.68% of the company’s stock.
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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