Jabil (NYSE:JBL) Updates Q3 2024 Earnings Guidance

Jabil (NYSE:JBLGet Free Report) issued an update on its third quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 1.650-2.050 for the period, compared to the consensus estimate of 1.850. The company issued revenue guidance of $6.2 billion-$6.8 billion, compared to the consensus revenue estimate of $6.5 billion. Jabil also updated its FY 2024 guidance to 8.400-8.400 EPS.

Jabil Price Performance

Jabil stock traded up $0.11 during mid-day trading on Wednesday, reaching $117.90. 77,067 shares of the company’s stock traded hands, compared to its average volume of 1,383,522. The company has a market cap of $14.22 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 1.29 and a beta of 1.42. The stock has a 50 day moving average of $126.55 and a two-hundred day moving average of $129.39. The company has a quick ratio of 0.72, a current ratio of 1.17 and a debt-to-equity ratio of 1.08. Jabil has a 12-month low of $83.64 and a 12-month high of $156.94.

Jabil (NYSE:JBLGet Free Report) last released its quarterly earnings results on Friday, March 15th. The technology company reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.01). The business had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.91 billion. Jabil had a net margin of 4.70% and a return on equity of 39.47%. Equities analysts forecast that Jabil will post 7.83 earnings per share for the current year.

Jabil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date is Tuesday, May 14th. Jabil’s dividend payout ratio (DPR) is 2.75%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Barclays cut their price target on shares of Jabil from $151.00 to $149.00 and set an overweight rating on the stock in a report on Monday, March 18th. Argus cut shares of Jabil from a buy rating to a hold rating in a report on Tuesday, March 19th. The Goldman Sachs Group upped their price target on shares of Jabil from $141.00 to $161.00 and gave the stock a buy rating in a report on Monday, March 4th. Finally, StockNews.com upgraded shares of Jabil from a hold rating to a buy rating in a report on Tuesday, April 23rd. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Jabil presently has a consensus rating of Buy and a consensus target price of $144.50.

Get Our Latest Research Report on Jabil

Insiders Place Their Bets

In other Jabil news, Chairman Mark T. Mondello sold 50,000 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $126.09, for a total transaction of $6,304,500.00. Following the completion of the sale, the chairman now directly owns 1,809,194 shares of the company’s stock, valued at $228,121,271.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Jabil news, Chairman Mark T. Mondello sold 50,000 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $126.09, for a total transaction of $6,304,500.00. Following the completion of the sale, the chairman now directly owns 1,809,194 shares of the company’s stock, valued at $228,121,271.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gerald Creadon sold 3,000 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $135.62, for a total transaction of $406,860.00. Following the completion of the transaction, the executive vice president now directly owns 65,434 shares of the company’s stock, valued at $8,874,159.08. The disclosure for this sale can be found here. Insiders have sold a total of 75,877 shares of company stock worth $9,824,383 in the last three months. Corporate insiders own 2.62% of the company’s stock.

About Jabil

(Get Free Report)

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).

Featured Articles

Earnings History and Estimates for Jabil (NYSE:JBL)

Receive News & Ratings for Jabil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jabil and related companies with MarketBeat.com's FREE daily email newsletter.