Jabil Circuit, Inc. Plans Quarterly Dividend of $0.08 (NYSE:JBL)
Jabil Circuit, Inc. (NYSE:JBL) declared a quarterly dividend on Thursday, July 20th, RTT News reports. Shareholders of record on Tuesday, August 15th will be paid a dividend of 0.08 per share by the technology company on Friday, September 1st. This represents a $0.32 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Friday, August 11th.
Jabil Circuit has a dividend payout ratio of 17.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Jabil Circuit to earn $2.07 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 15.5%.
Jabil Circuit (JBL) opened at 30.42 on Thursday. The firm has a 50-day moving average of $30.19 and a 200-day moving average of $28.44. Jabil Circuit has a 52 week low of $19.97 and a 52 week high of $31.70. The company has a market capitalization of $5.45 billion, a PE ratio of 46.80 and a beta of 0.56.
Jabil Circuit (NYSE:JBL) last posted its earnings results on Wednesday, June 14th. The technology company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. Jabil Circuit had a net margin of 0.66% and a return on equity of 12.27%. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same period in the previous year, the firm posted $0.17 EPS. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities analysts expect that Jabil Circuit will post $2.09 earnings per share for the current fiscal year.
JBL has been the topic of a number of research reports. Zacks Investment Research raised shares of Jabil Circuit from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Tuesday, June 20th. Bank of America Corporation reissued a “buy” rating and set a $34.00 target price (up from $33.00) on shares of Jabil Circuit in a report on Monday, June 19th. BidaskClub lowered shares of Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. UBS AG reaffirmed a “buy” rating and issued a $35.00 price objective (up from $30.00) on shares of Jabil Circuit in a research note on Friday, June 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Jabil Circuit in a research note on Tuesday, June 13th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $28.77.
Jabil Circuit announced that its board has authorized a share buyback program on Thursday, July 20th that allows the company to buyback $450.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 8.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, COO William D. Muir, Jr. sold 19,866 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $29.34, for a total transaction of $582,868.44. Following the transaction, the chief operating officer now owns 597,085 shares in the company, valued at approximately $17,518,473.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas A. Sansone sold 25,000 shares of the business’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $31.25, for a total transaction of $781,250.00. Following the transaction, the director now owns 176,688 shares in the company, valued at approximately $5,521,500. The disclosure for this sale can be found here. Insiders have sold a total of 305,495 shares of company stock worth $9,205,242 in the last quarter. 2.90% of the stock is owned by corporate insiders.
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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