Jabil (NYSE:JBL) Announces Quarterly Earnings Results

Jabil (NYSE:JBL - Get Free Report) posted its quarterly earnings data on Wednesday. The technology company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.12, Briefing.com reports. The company had revenue of $6.99 billion during the quarter, compared to analyst estimates of $6.61 billion. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The company's revenue was down 16.6% on a year-over-year basis. During the same quarter last year, the business posted $2.60 earnings per share.

Jabil Trading Up 7.3 %

JBL stock traded up $9.73 during midday trading on Wednesday, reaching $143.69. The company's stock had a trading volume of 4,758,799 shares, compared to its average volume of 1,429,522. The business's 50-day simple moving average is $130.37 and its 200-day simple moving average is $117.96. The stock has a market cap of $16.05 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.57 and a beta of 1.25. Jabil has a 52 week low of $95.85 and a 52 week high of $156.94. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 1.66.

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.32 annualized dividend and a yield of 0.22%. Jabil's dividend payout ratio is currently 2.90%.

Analyst Ratings Changes

A number of equities analysts have commented on JBL shares. JPMorgan Chase & Co. reduced their price objective on Jabil from $137.00 to $133.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 3rd. StockNews.com raised shares of Jabil from a "buy" rating to a "strong-buy" rating in a report on Wednesday, November 27th. The Goldman Sachs Group raised their price objective on shares of Jabil from $136.00 to $145.00 and gave the company a "buy" rating in a research report on Wednesday. Bank of America upped their target price on shares of Jabil from $135.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday, September 27th. Finally, Barclays boosted their price objective on shares of Jabil from $135.00 to $157.00 and gave the stock an "overweight" rating in a research report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $142.50.

Insider Activity

In related news, Director Steven A. Raymund sold 20,000 shares of the company's stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $124.70, for a total value of $2,494,000.00. Following the completion of the sale, the director now owns 139,108 shares in the company, valued at $17,346,767.60. This represents a 12.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Francis Mckay sold 11,755 shares of Jabil stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $121.71, for a total value of $1,430,701.05. Following the transaction, the senior vice president now owns 41,507 shares in the company, valued at approximately $5,051,816.97. This represents a 22.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,689 shares of company stock valued at $5,377,431 in the last 90 days. 1.73% of the stock is owned by company insiders.

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).