Jabil (NYSE:JBL) Shares Gap Up Following Earnings Beat

Jabil Inc. (NYSE:JBL - Get Free Report)'s stock price gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $139.48, but opened at $146.30. Jabil shares last traded at $145.95, with a volume of 440,800 shares traded.

The technology company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.11. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter in the previous year, the business earned $1.68 EPS. The company's quarterly revenue was down .6% compared to the same quarter last year.

Jabil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Tuesday, February 18th. Jabil's dividend payout ratio (DPR) is currently 3.07%.

Analysts Set New Price Targets

Several brokerages have commented on JBL. StockNews.com raised shares of Jabil from a "hold" rating to a "buy" rating in a research report on Friday. The Goldman Sachs Group lifted their target price on Jabil from $160.00 to $179.00 and gave the company a "buy" rating in a report on Monday, February 24th. Stifel Nicolaus restated a "buy" rating and set a $160.00 price target (up previously from $150.00) on shares of Jabil in a report on Thursday, December 19th. Barclays lifted their price objective on Jabil from $179.00 to $184.00 and gave the company an "overweight" rating in a research note on Friday. Finally, JPMorgan Chase & Co. upped their target price on shares of Jabil from $172.00 to $175.00 and gave the stock an "overweight" rating in a research note on Friday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Jabil currently has an average rating of "Moderate Buy" and a consensus target price of $167.50.

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Insider Activity at Jabil

In related news, Director John C. Plant sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $172.55, for a total transaction of $8,627,500.00. Following the transaction, the director now owns 5,900 shares in the company, valued at $1,018,045. This trade represents a 89.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Christopher S. Holland sold 3,400 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $162.27, for a total value of $551,718.00. Following the completion of the sale, the director now directly owns 12,900 shares of the company's stock, valued at $2,093,283. The trade was a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,400 shares of company stock valued at $12,804,458 in the last ninety days. Insiders own 1.73% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. 111 Capital acquired a new position in Jabil in the 4th quarter valued at about $940,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Jabil by 68.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,318 shares of the technology company's stock worth $3,212,000 after purchasing an additional 9,039 shares during the last quarter. NorthCrest Asset Manangement LLC raised its stake in shares of Jabil by 3.8% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 10,701 shares of the technology company's stock worth $1,540,000 after purchasing an additional 394 shares during the last quarter. BridgePort Financial Solutions LLC acquired a new stake in shares of Jabil during the fourth quarter worth $618,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Jabil in the 4th quarter valued at $9,123,000. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Jabil Stock Up 2.6 %

The company has a market capitalization of $16.26 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 1.65 and a beta of 1.19. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. The firm's 50 day simple moving average is $155.96 and its 200-day simple moving average is $138.39.

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).