Jabil (NYSE:JBL) Hits New 12-Month High on Strong Earnings

Jabil, Inc. (NYSE:JBL - Get Free Report) shares hit a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $203.90 and last traded at $196.42, with a volume of 6193307 shares traded. The stock had previously closed at $180.82.

The technology company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.28 by $0.27. Jabil had a net margin of 1.76% and a return on equity of 49.64%. The business had revenue of $7.83 billion for the quarter, compared to analysts' expectations of $7.03 billion. During the same quarter last year, the company posted $1.89 earnings per share. The company's quarterly revenue was up 15.7% compared to the same quarter last year.

Jabil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Thursday, May 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend was Thursday, May 15th. Jabil's dividend payout ratio (DPR) is presently 7.66%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Barclays raised their price target on shares of Jabil from $184.00 to $206.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 10th. The Goldman Sachs Group lifted their price objective on shares of Jabil from $165.00 to $188.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. UBS Group lifted their price target on Jabil from $152.00 to $157.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Wall Street Zen raised Jabil from a "hold" rating to a "buy" rating in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. cut their price target on Jabil from $175.00 to $154.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $169.17.

Insiders Place Their Bets

In other Jabil 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 value of $1,699,000.00. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark T. Mondello sold 20,000 shares of the business's stock in a transaction that occurred on 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 completion of the sale, 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. In 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 corporate insiders.

Institutional Investors Weigh In On Jabil

Institutional investors and hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new stake in shares of Jabil during the 4th quarter valued at $27,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Jabil during the first quarter worth $27,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Jabil during the fourth quarter worth $29,000. Harbor Capital Advisors Inc. raised its holdings in Jabil by 110.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock worth $30,000 after buying an additional 116 shares during the period. Finally, Groupe la Francaise raised its holdings in Jabil by 35.2% during the 1st quarter. Groupe la Francaise now owns 246 shares of the technology company's stock worth $34,000 after buying an additional 64 shares during the period. Institutional investors and hedge funds own 93.39% of the company's stock.

Jabil Trading Up 8.6%

The company has a fifty day simple moving average of $157.94 and a 200-day simple moving average of $151.63. The company has a current ratio of 1.02, a quick ratio of 0.66 and a debt-to-equity ratio of 2.12. The stock has a market cap of $21.09 billion, a price-to-earnings ratio of 46.99, a P/E/G ratio of 1.76 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).

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