Jabil (NYSE:JBL) Releases FY 2024 Earnings Guidance

Jabil (NYSE:JBL) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 8.400-8.400 for the period, compared to the consensus estimate of 8.370. The company issued revenue guidance of -. Jabil also updated its Q3 2024 guidance to 1.650-2.050 EPS.

Jabil Price Performance

Jabil stock opened at $118.22 on Thursday. Jabil has a 1 year low of $83.64 and a 1 year high of $156.94. The firm has a 50 day moving average price of $125.94 and a 200 day moving average price of $129.31. The company has a market cap of $14.26 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 1.46 and a beta of 1.42. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.72 and a current ratio of 1.17.

Jabil (NYSE:JBL) last posted its earnings results on Friday, March 15th. The technology company reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.01). The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.91 billion. Jabil had a return on equity of 39.47% and a net margin of 4.70%. Sell-side analysts predict that Jabil will post 7.83 earnings per share for the current year.

Jabil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Wednesday, May 15th will be given a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. Jabil’s dividend payout ratio is presently 2.75%.

Analyst Ratings Changes

JBL has been the topic of several analyst reports. Barclays lowered their price target on Jabil from $151.00 to $149.00 and set an overweight rating on the stock in a report on Monday, March 18th. StockNews.com upgraded Jabil from a hold rating to a buy rating in a research note on Tuesday, April 23rd. Argus lowered Jabil from a buy rating to a hold rating in a research report on Tuesday, March 19th. Finally, The Goldman Sachs Group boosted their target price on Jabil from $141.00 to $161.00 and gave the stock a buy rating in a research report on Monday, March 4th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Buy and an average price target of $144.50.

Insider Buying and Selling

In other news, CEO Kenneth S. Wilson sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $134.20, for a total value of $2,013,000.00. Following the transaction, the chief executive officer now owns 339,725 shares in the company, valued at $45,591,095. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Jabil news, Chairman Mark T. Mondello sold 50,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $126.09, for a total value of $6,304,500.00. Following the transaction, the chairman now directly owns 1,809,194 shares in the company, valued at approximately $228,121,271.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kenneth S. Wilson sold 15,000 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $134.20, for a total value of $2,013,000.00. Following the completion of the transaction, the chief executive officer now owns 339,725 shares of the company’s stock, valued at $45,591,095. The disclosure for this sale can be found here. Insiders sold 75,877 shares of company stock valued at $9,824,383 over the last 90 days. Company insiders own 2.62% of the company’s stock.

Jabil Company Profile

Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; electronic circuit design services, such as application-specific integrated circuit design, firmware development, and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA).