Jabil (NYSE:JBL) Issues Q3 Earnings Guidance

Jabil (NYSE:JBLGet Free Report) updated its third quarter earnings guidance on Monday. The company provided EPS guidance of $1.65-2.05 for the period, compared to the consensus EPS estimate of $1.85. The company issued revenue guidance of $6.2-6.8 billion, compared to the consensus revenue estimate of $6.53 billion. Jabil also updated its FY24 guidance to $8.40 EPS.

Analyst Upgrades and Downgrades

JBL has been the topic of several research analyst reports. StockNews.com upgraded Jabil from a hold rating to a buy rating in a research note on Tuesday, April 23rd. Barclays reduced their price objective on Jabil from $151.00 to $149.00 and set an overweight rating on the stock in a research note on Monday, March 18th. Argus cut Jabil from a buy rating to a hold rating in a research note on Tuesday, March 19th. Finally, The Goldman Sachs Group raised their price objective on Jabil from $141.00 to $161.00 and gave the stock a buy rating in a research note on Monday, March 4th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Jabil currently has a consensus rating of Buy and an average target price of $144.50.

View Our Latest Stock Analysis on Jabil

Jabil Stock Performance

JBL stock opened at $118.22 on Thursday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.72 and a current ratio of 1.17. The stock has a market capitalization of $14.26 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 1.46 and a beta of 1.42. Jabil has a 1 year low of $83.64 and a 1 year high of $156.94. The stock’s fifty day moving average is $125.94 and its two-hundred day moving average is $129.31.

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

Jabil Announces Dividend

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

Insider Activity at Jabil

In related news, EVP Gerald Creadon sold 3,000 shares of Jabil stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $135.62, for a total transaction of $406,860.00. Following the transaction, the executive vice president now directly owns 65,434 shares of the company’s stock, valued at $8,874,159.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Chairman Mark T. Mondello sold 50,000 shares of Jabil stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $126.09, for a total value of $6,304,500.00. Following the transaction, the chairman now owns 1,809,194 shares of the company’s stock, valued at approximately $228,121,271.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gerald Creadon sold 3,000 shares of Jabil stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $135.62, for a total value of $406,860.00. Following the completion of the transaction, the executive vice president now directly owns 65,434 shares in the company, valued at approximately $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 over the last ninety days. 2.62% of the stock is currently owned by corporate insiders.

Jabil Company Profile

(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).

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Earnings History and Estimates for Jabil (NYSE:JBL)

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