Zacks: Brokerages Anticipate Jabil Circuit, Inc. (JBL) to Post $0.62 EPS
Equities analysts expect Jabil Circuit, Inc. (NYSE:JBL) to post $0.62 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Jabil Circuit’s earnings, with the lowest EPS estimate coming in at $0.60 and the highest estimate coming in at $0.63. Jabil Circuit reported earnings per share of $0.28 during the same quarter last year, which suggests a positive year-over-year growth rate of 121.4%. The company is scheduled to report its next quarterly earnings report after the market closes on Wednesday, September 27th.
According to Zacks, analysts expect that Jabil Circuit will report full year earnings of $2.11 per share for the current year, with EPS estimates ranging from $2.08 to $2.12. For the next year, analysts anticipate that the company will post earnings of $2.60 per share, with EPS estimates ranging from $2.56 to $2.62. Zacks’ EPS calculations are an average based on a survey of research firms that cover Jabil Circuit.
Several research firms have weighed in on JBL. Needham & Company LLC restated a “buy” rating and issued a $37.00 price objective on shares of Jabil Circuit in a research report on Friday, September 1st. BidaskClub cut shares of Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. ValuEngine upgraded shares of Jabil Circuit from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Royal Bank of Canada raised their price objective on shares of Jabil Circuit from $27.00 to $31.00 and gave the company a “sector perform” rating in a research report on Thursday, June 15th. Finally, Stifel Nicolaus raised their price objective on shares of Jabil Circuit from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Thursday, June 15th. Nine research 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 stock currently has a consensus rating of “Buy” and a consensus target price of $29.31.
Jabil Circuit (JBL) traded up 2.21% on Tuesday, hitting $31.44. 1,572,247 shares of the stock traded hands. Jabil Circuit has a 12-month low of $20.32 and a 12-month high of $31.70. The stock has a market cap of $5.64 billion, a P/E ratio of 48.37 and a beta of 0.55. The stock has a 50-day moving average price of $30.44 and a 200 day moving average price of $29.52.
Jabil Circuit announced that its Board of Directors has approved a stock repurchase program on Thursday, July 20th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the technology company to buy up to 8.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, August 11th. Jabil Circuit’s dividend payout ratio is 50.00%.
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In related news, Director Frank A. Newman sold 60,000 shares of Jabil Circuit stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $29.52, for a total transaction of $1,771,200.00. Following the transaction, the director now owns 127,665 shares of the company’s stock, valued at approximately $3,768,670.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO William D. Muir, Jr. sold 19,866 shares of Jabil Circuit stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $29.34, for a total transaction of $582,868.44. Following the transaction, the chief operating officer now directly owns 597,085 shares in the company, valued at approximately $17,518,473.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 170,387 shares of company stock valued at $5,111,014. 2.90% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. IHT Wealth Management LLC boosted its stake in Jabil Circuit by 142.6% during the 2nd quarter. IHT Wealth Management LLC now owns 359 shares of the technology company’s stock worth $159,000 after acquiring an additional 211 shares during the last quarter. Advisor Group Inc. boosted its stake in Jabil Circuit by 68.2% during the 2nd quarter. Advisor Group Inc. now owns 5,765 shares of the technology company’s stock worth $168,000 after acquiring an additional 2,337 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Jabil Circuit by 9.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,054 shares of the technology company’s stock worth $177,000 after acquiring an additional 547 shares during the last quarter. Stevens Capital Management LP bought a new position in Jabil Circuit during the 2nd quarter worth approximately $206,000. Finally, Bridgewater Associates LP bought a new position in Jabil Circuit during the 2nd quarter worth approximately $219,000. 93.05% of the stock is currently owned by institutional investors and hedge funds.
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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