Shares of Jabil Circuit, Inc. (NYSE:JBL) have been assigned a consensus rating of “Buy” from the seventeen brokerages that are presently covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $29.27.
JBL has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Jabil Circuit from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. ValuEngine raised shares of Jabil Circuit from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Needham & Company LLC reissued a “buy” rating and issued a $30.00 price target on shares of Jabil Circuit in a research report on Tuesday, June 13th. Royal Bank Of Canada reissued a “hold” rating and issued a $27.00 price target on shares of Jabil Circuit in a research report on Tuesday, May 2nd. Finally, BidaskClub lowered shares of Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th.
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Shares of Jabil Circuit (NYSE JBL) opened at 29.40 on Monday. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of 45.23 and a beta of 0.56. Jabil Circuit has a one year low of $20.32 and a one year high of $31.70. The stock’s 50 day moving average is $30.19 and its 200-day moving average is $28.45.
Jabil Circuit (NYSE:JBL) last posted its quarterly earnings data on Wednesday, June 14th. The technology company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $4.40 billion. During the same period in the prior year, the firm earned $0.17 earnings per share. The business’s quarterly revenue was up 4.1% on a year-over-year basis. On average, equities research analysts predict that Jabil Circuit will post $2.09 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be paid a $0.08 dividend. The ex-dividend date is Friday, August 11th. This represents a $0.32 annualized dividend and a dividend yield of 1.09%. Jabil Circuit’s payout ratio is 50.00%.
Jabil Circuit announced that its Board of Directors has initiated a stock repurchase program on Thursday, July 20th that authorizes the company to repurchase $450.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 8.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In related news, CFO Forbes I. J. Alexander sold 20,000 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $31.00, for a total value of $620,000.00. Following the completion of the transaction, the chief financial officer now directly owns 550,525 shares of the company’s stock, valued at $17,066,275. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Forbes I. J. Alexander sold 4,341 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $30.00, for a total value of $130,230.00. Following the completion of the transaction, the chief financial officer now directly owns 586,184 shares of the company’s stock, valued at $17,585,520. The disclosure for this sale can be found here. In the last 90 days, insiders sold 305,495 shares of company stock worth $9,205,242. 2.90% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Jabil Circuit by 9.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,054 shares of the technology company’s stock worth $177,000 after buying an additional 547 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Jabil Circuit during the first quarter worth about $218,000. Bridgewater Associates LP bought a new position in shares of Jabil Circuit during the second quarter worth about $219,000. PNC Financial Services Group Inc. boosted 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 during the last quarter. Finally, Symphony Asset Management LLC bought a new position in shares of Jabil Circuit during the first quarter worth about $242,000. 94.83% of the stock is owned by institutional investors.
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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