Jabil Circuit, Inc. (JBL) to Release Quarterly Earnings on Tuesday
Jabil Circuit, Inc. (NYSE:JBL) will be issuing its quarterly earnings data after the market closes on Tuesday, September 19th. Analysts expect the company to announce earnings of $0.62 per share for the quarter. Jabil Circuit has set its Q4 guidance at $0.50-0.74 EPS and its FY18 guidance at approx $2.60 EPS.
Jabil Circuit (NYSE:JBL) last released its earnings results on Wednesday, June 14th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.02. The company had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.40 billion. Jabil Circuit had a return on equity of 12.27% and a net margin of 0.66%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 earnings per share. On average, analysts expect Jabil Circuit to post $2.09 EPS for the current fiscal year and $2.58 EPS for the next fiscal year.
Shares of Jabil Circuit, Inc. (JBL) opened at 31.25 on Tuesday. Jabil Circuit, Inc. has a 12-month low of $20.32 and a 12-month high of $31.70. The stock has a 50 day moving average price of $30.43 and a 200-day moving average price of $29.33. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 48.08 and a beta of 0.55.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.02%. The ex-dividend date was Friday, August 11th. Jabil Circuit’s dividend payout ratio (DPR) is 50.00%.
Jabil Circuit declared that its Board of Directors has authorized a share buyback program on Thursday, July 20th that authorizes the company to repurchase $450.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 8.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
In other Jabil Circuit news, COO William D. Muir, Jr. sold 19,866 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $29.34, for a total transaction of $582,868.44. Following the sale, the chief operating officer now directly owns 597,085 shares of the company’s stock, valued at approximately $17,518,473.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frank A. Newman sold 60,000 shares of the business’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $29.52, for a total transaction of $1,771,200.00. Following the sale, the director now directly owns 127,665 shares in the company, valued at $3,768,670.80. The disclosure for this sale can be found here. Insiders have sold a total of 170,387 shares of company stock worth $5,111,014 over the last three months. Insiders own 2.90% of the company’s stock.
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A number of equities analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $37.00 target price on shares of Jabil Circuit in a research note on Friday, September 1st. BidaskClub lowered shares of Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. ValuEngine raised shares of Jabil Circuit from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Royal Bank Of Canada upped their target price on shares of Jabil Circuit from $27.00 to $31.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 15th. Finally, Stifel Nicolaus upped their target price on shares of Jabil Circuit from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, June 15th. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $29.31.
About Jabil Circuit
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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