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

Jabil Inc. (NYSE:JBL)’s share price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $113.43, but opened at $124.00. Jabil shares last traded at $128.13, with a volume of 791,333 shares changing hands.

The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.08. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.59 billion. During the same period last year, the firm earned $2.34 earnings per share. The company’s revenue for the quarter was down 17.7% compared to the same quarter last year.

Jabil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were issued a $0.08 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. Jabil’s dividend payout ratio (DPR) is 2.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on JBL shares. UBS Group decreased their price objective on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, June 21st. JPMorgan Chase & Co. decreased their price target on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Stifel Nicolaus boosted their price objective on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday. Barclays raised their target price on shares of Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Bank of America lifted their target price on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $145.75.

Insiders Place Their Bets

In other news, SVP May Yee Yap sold 4,274 shares of Jabil stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total transaction of $500,228.96. Following the sale, the senior vice president now owns 24,829 shares of the company’s stock, valued at $2,905,986.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Frederic E. Mccoy sold 1,250 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $116.42, for a total value of $145,525.00. Following the completion of the transaction, the executive vice president now owns 112,753 shares in the company, valued at approximately $13,126,704.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP May Yee Yap sold 4,274 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total transaction of $500,228.96. Following the sale, the senior vice president now owns 24,829 shares in the company, valued at $2,905,986.16. The disclosure for this sale can be found here. 2.62% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Benjamin Edwards Inc. bought a new stake in Jabil during the first quarter worth approximately $25,000. HHM Wealth Advisors LLC acquired a new position in shares of Jabil during the 2nd quarter valued at $28,000. ORG Partners LLC bought a new stake in shares of Jabil in the 1st quarter worth $29,000. Innealta Capital LLC bought a new stake in shares of Jabil in the 2nd quarter worth $31,000. Finally, Riverview Trust Co acquired a new stake in shares of Jabil in the first quarter valued at $33,000. 93.39% of the stock is currently owned by institutional investors.

Jabil Price Performance

The company has a 50 day moving average of $107.42 and a two-hundred day moving average of $116.72. The firm has a market cap of $13.88 billion, a P/E ratio of 11.13, a PEG ratio of 2.23 and a beta of 1.25. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 1.26.

Jabil Company Profile

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).