Jabil (NYSE:JBL) Updates Q3 2024 Earnings Guidance

Jabil (NYSE:JBL) issued an update on its third quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 1.650-2.050 for the period, compared to the consensus earnings per share estimate of 1.850. The company issued revenue guidance of $6.2 billion-$6.8 billion, compared to the consensus revenue estimate of $6.5 billion. Jabil also updated its FY 2024 guidance to 8.400-8.400 EPS.

Jabil Stock Up 0.6 %

Shares of NYSE:JBL opened at $118.85 on Friday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.72 and a current ratio of 1.17. The company has a market cap of $14.33 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 1.46 and a beta of 1.42. Jabil has a 52 week low of $83.64 and a 52 week high of $156.94. The firm has a 50 day simple moving average of $125.36 and a 200 day simple moving average of $129.24.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Friday, March 15th. The technology company reported $1.54 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.01). The firm had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.91 billion. Jabil had a net margin of 4.70% and a return on equity of 39.47%. As a group, research analysts expect that Jabil will post 7.83 earnings per share for the current year.

Jabil Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Transactions at Jabil

In related news, SVP May Yee Yap sold 7,877 shares of Jabil stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $139.65, for a total transaction of $1,100,023.05. Following the completion of the transaction, the senior vice president now directly owns 29,006 shares of the company’s stock, valued at approximately $4,050,687.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP May Yee Yap sold 7,877 shares of Jabil stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $139.65, for a total transaction of $1,100,023.05. Following the completion of the transaction, the senior vice president now directly owns 29,006 shares of the company’s stock, valued at approximately $4,050,687.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kenneth S. Wilson sold 15,000 shares of Jabil stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $134.20, for a total transaction of $2,013,000.00. Following the transaction, the chief executive officer now directly owns 339,725 shares of the company’s stock, valued at $45,591,095. The disclosure for this sale can be found here. In the last three months, insiders sold 75,877 shares of company stock valued at $9,824,383. 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).