Jabil (NYSE:JBL) Sets New 52-Week High After Strong Earnings

Jabil, Inc. (NYSE:JBLGet Free Report) reached a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $203.90 and last traded at $196.42, with a volume of 6193307 shares changing hands. The stock had previously closed at $180.82.

The technology company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.28 by $0.27. The company had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.03 billion. Jabil had a net margin of 2.02% and a return on equity of 60.19%. The firm’s revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the business earned $1.89 earnings per share.

Jabil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were given a $0.08 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.16%. Jabil’s dividend payout ratio (DPR) is 6.21%.

Wall Street Analysts Forecast Growth

JBL has been the topic of several research analyst reports. Argus upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research report on Wednesday. Barclays lifted their target price on shares of Jabil from $206.00 to $223.00 and gave the company an “overweight” rating in a research report on Tuesday. UBS Group lifted their target price on shares of Jabil from $157.00 to $208.00 and gave the company a “neutral” rating in a research report on Wednesday. The Goldman Sachs Group lifted their target price on shares of Jabil from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Wall Street Zen upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $200.00.

Check Out Our Latest Report on Jabil

Insider Buying and Selling

In related news, CEO Michael Dastoor sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $169.90, for a total transaction of $1,699,000.00. Following the transaction, the chief executive officer now directly owns 221,693 shares in the company, valued at approximately $37,665,640.70. The trade was a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark T. Mondello sold 20,000 shares of the business’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $166.75, for a total transaction of $3,335,000.00. Following the transaction, the chairman now owns 1,710,192 shares in the company, valued at $285,174,516. The trade was a 1.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,000 shares of company stock worth $7,665,200. 1.73% of the stock is owned by insiders.

Hedge Funds Weigh In On Jabil

A number of institutional investors and hedge funds have recently bought and sold shares of JBL. SBI Securities Co. Ltd. purchased a new position in Jabil during the fourth quarter worth about $27,000. Creative Financial Designs Inc. ADV purchased a new position in Jabil during the first quarter worth about $27,000. Murphy & Mullick Capital Management Corp purchased a new position in Jabil during the fourth quarter worth about $29,000. Harbor Capital Advisors Inc. raised its stake in Jabil by 110.5% during the first quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company’s stock worth $30,000 after purchasing an additional 116 shares during the period. Finally, Groupe la Francaise raised its stake in Jabil by 35.2% during the first quarter. Groupe la Francaise now owns 246 shares of the technology company’s stock worth $34,000 after purchasing an additional 64 shares during the period. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Jabil Stock Up 3.8%

The company has a debt-to-equity ratio of 1.85, a current ratio of 0.98 and a quick ratio of 0.66. The business’s 50 day simple moving average is $159.27 and its 200 day simple moving average is $152.00. The company has a market capitalization of $21.94 billion, a PE ratio of 39.69, a P/E/G ratio of 1.90 and a beta of 1.14.

About Jabil

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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).

Further Reading

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