Analysts expect that Jabil Inc. (NYSE:JBL) will announce $6.90 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Jabil's earnings. The highest sales estimate is $6.91 billion and the lowest is $6.89 billion. Jabil reported sales of $6.34 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.8%. The company is expected to report its next earnings results on Friday, June 18th.
According to Zacks, analysts expect that Jabil will report full-year sales of $28.53 billion for the current fiscal year, with estimates ranging from $28.48 billion to $28.60 billion. For the next year, analysts anticipate that the company will post sales of $29.53 billion, with estimates ranging from $29.13 billion to $29.74 billion. Zacks' sales averages are a mean average based on a survey of sell-side research analysts that cover Jabil.
Jabil (NYSE:JBL) last released its quarterly earnings data on Monday, March 15th. The technology company reported $1.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.32. The firm had revenue of $6.83 billion during the quarter, compared to analyst estimates of $6.39 billion. Jabil had a return on equity of 14.01% and a net margin of 0.78%. The business's quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.50 earnings per share.
A number of research analysts recently weighed in on JBL shares. Zacks Investment Research lowered shares of Jabil from a "buy" rating to a "hold" rating and set a $48.00 target price for the company. in a report on Wednesday, February 17th. Citigroup raised their target price on shares of Jabil from $60.00 to $70.00 in a report on Wednesday, March 17th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their target price on shares of Jabil from $60.00 to $70.00 in a report on Thursday, March 18th. Stifel Nicolaus upped their price objective on shares of Jabil from $51.00 to $55.00 and gave the stock a "hold" rating in a research note on Tuesday, March 16th. Finally, Argus upped their price objective on shares of Jabil from $52.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday, March 17th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Jabil currently has an average rating of "Buy" and an average price target of $52.80.
NYSE:JBL opened at $52.37 on Thursday. The stock's 50 day simple moving average is $52.67 and its two-hundred day simple moving average is $44.20. Jabil has a 1 year low of $25.10 and a 1 year high of $55.25. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.02 and a quick ratio of 0.68. The company has a market cap of $7.79 billion, a price-to-earnings ratio of 37.68, a PEG ratio of 0.97 and a beta of 1.32.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 2nd. Shareholders of record on Friday, May 14th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Thursday, May 13th. Jabil's payout ratio is 91.43%.
In related news, CEO Steven D. Borges sold 10,000 shares of the business's stock in a transaction that occurred on Friday, February 5th. The shares were sold at an average price of $45.00, for a total value of $450,000.00. Following the sale, the chief executive officer now directly owns 297,429 shares in the company, valued at approximately $13,384,305. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas A. Sansone sold 25,000 shares of the business's stock in a transaction that occurred on Friday, March 19th. The stock was sold at an average price of $51.35, for a total transaction of $1,283,750.00. Following the completion of the sale, the director now owns 204,588 shares in the company, valued at $10,505,593.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 150,163 shares of company stock worth $7,724,374. 2.81% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of JBL. Commerce Bank lifted its position in Jabil by 3.7% during the 1st quarter. Commerce Bank now owns 9,095 shares of the technology company's stock worth $474,000 after acquiring an additional 325 shares during the last quarter. Palladium Partners LLC bought a new position in Jabil during the first quarter valued at about $8,894,000. Paradigm Capital Management Inc. NY grew its stake in shares of Jabil by 0.5% in the 1st quarter. Paradigm Capital Management Inc. NY now owns 650,200 shares of the technology company's stock valued at $33,915,000 after purchasing an additional 3,000 shares during the period. Los Angeles Capital Management LLC grew its stake in shares of Jabil by 44.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 982,555 shares of the technology company's stock valued at $51,250,000 after purchasing an additional 303,227 shares during the period. Finally, Stanley Laman Group Ltd. grew its stake in shares of Jabil by 7.7% in the 1st quarter. Stanley Laman Group Ltd. now owns 44,450 shares of the technology company's stock valued at $2,319,000 after purchasing an additional 3,176 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.
Jabil Company Profile
Jabil Inc provides manufacturing services and solutions worldwide. The company operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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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