Jabil Circuit, Inc. (JBL) Cut to Buy at BidaskClub
Jabil Circuit, Inc. (NYSE:JBL) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.
A number of other analysts have also commented on the stock. Zacks Investment Research lowered shares of Jabil Circuit from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $27.00 price objective on shares of Jabil Circuit in a research note on Tuesday, May 2nd. Stifel Nicolaus upped their price objective on shares of Jabil Circuit from $26.00 to $29.00 and gave the company a “hold” rating in a research note on Friday, March 24th. Needham & Company LLC raised shares of Jabil Circuit from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Thursday, March 16th. Finally, ValuEngine raised shares of Jabil Circuit from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $26.18.
Jabil Circuit (NYSE JBL) traded down 3.33% during trading on Friday, reaching $28.46. 4,454,927 shares of the company’s stock traded hands. Jabil Circuit has a 12 month low of $17.27 and a 12 month high of $31.70. The company has a 50-day moving average of $29.66 and a 200 day moving average of $26.53. The stock has a market capitalization of $5.19 billion, a P/E ratio of 35.49 and a beta of 0.58.
Jabil Circuit (NYSE:JBL) last issued its quarterly earnings results on Wednesday, June 14th. The technology company reported $0.31 earnings per share for the quarter, beating 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 company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.40 billion. During the same period in the prior year, the company earned $0.17 EPS. Jabil Circuit’s revenue was up 4.1% on a year-over-year basis. On average, equities research analysts expect that Jabil Circuit will post $2.10 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Monday, May 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.12%. Jabil Circuit’s dividend payout ratio is 50.00%.
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In other news, Director Thomas A. Sansone sold 50,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $30.50, for a total value of $1,525,000.00. Following the transaction, the director now owns 176,688 shares in the company, valued at approximately $5,388,984. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark T. Mondello sold 20,000 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $28.62, for a total value of $572,400.00. Following the completion of the transaction, the chief executive officer now owns 2,017,619 shares in the company, valued at approximately $57,744,255.78. The disclosure for this sale can be found here. Insiders sold a total of 295,016 shares of company stock worth $8,801,536 in the last quarter. 2.90% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Oppenheimer & Co. Inc. acquired a new position in shares of Jabil Circuit during the first quarter worth $218,000. PNC Financial Services Group Inc. increased its position in shares of Jabil Circuit by 1.3% in the first quarter. PNC Financial Services Group Inc. now owns 8,194 shares of the technology company’s stock worth $236,000 after buying an additional 109 shares in the last quarter. Symphony Asset Management LLC acquired a new position in shares of Jabil Circuit during the first quarter worth $242,000. Boothbay Fund Management LLC acquired a new position in shares of Jabil Circuit during the fourth quarter worth $224,000. Finally, Teza Capital Management LLC acquired a new position in shares of Jabil Circuit during the first quarter worth $287,000. Institutional investors own 95.26% of the company’s stock.
Jabil Circuit Company Profile
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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