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

Jabil, Inc. (NYSE:JBL) 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.

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

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).