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

Shares of Jabil Inc. (NYSE:JBL - Get Free Report) gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $180.82, but opened at $185.19. Jabil shares last traded at $200.39, with a volume of 985,282 shares traded.

The technology company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.27. The business had revenue of $7.83 billion for the quarter, compared to analysts' expectations of $7.03 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. Jabil's revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.89 EPS.

Jabil Announces Dividend

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

Analysts Set New Price Targets

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

Insider Activity at Jabil

In related news, CEO Michael Dastoor sold 10,000 shares of Jabil stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $169.90, for a total transaction 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. This trade represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mark T. Mondello sold 20,000 shares of the firm's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $131.56, for a total value of $2,631,200.00. Following the completion of the sale, the chairman now directly owns 1,730,192 shares of the company's stock, valued at $227,624,059.52. This represents a 1.14% 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 valued at $7,665,200. 1.73% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Groupe la Francaise raised its holdings in shares of Jabil by 35.2% during the 1st quarter. Groupe la Francaise now owns 246 shares of the technology company's stock valued at $34,000 after buying an additional 64 shares in the last quarter. Keeley Teton Advisors LLC increased its position in Jabil by 0.3% during the 1st quarter. Keeley Teton Advisors LLC now owns 25,398 shares of the technology company's stock valued at $3,456,000 after purchasing an additional 64 shares during the period. Cordatus Wealth Management LLC raised its stake in Jabil by 2.9% in the first quarter. Cordatus Wealth Management LLC now owns 2,429 shares of the technology company's stock worth $330,000 after buying an additional 68 shares in the last quarter. AlphaCore Capital LLC grew its stake in Jabil by 2.4% in the first quarter. AlphaCore Capital LLC now owns 3,206 shares of the technology company's stock worth $436,000 after purchasing an additional 76 shares during the period. Finally, UniSuper Management Pty Ltd lifted its position in Jabil by 0.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 30,797 shares of the technology company's stock valued at $4,191,000 after acquiring an additional 81 shares during the period. 93.39% of the stock is owned by institutional investors.

Jabil Stock Up 12.3%

The firm has a market capitalization of $21.80 billion, a P/E ratio of 19.45, a P/E/G ratio of 1.65 and a beta of 1.14. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The company has a fifty day simple moving average of $156.76 and a 200 day simple moving average of $151.32.

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).

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