Jabil (NYSE:JBL) Shares Gap Up on Better-Than-Expected Earnings

Jabil Inc. (NYSE:JBL)’s stock price gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $139.48, but opened at $146.30. Jabil shares last traded at $145.95, with a volume of 440,800 shares trading hands.

The technology company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.11. The business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.40 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.68 earnings per share.

Jabil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date was Tuesday, February 18th. Jabil’s dividend payout ratio is currently 3.07%.

Analysts Set New Price Targets

A number of research analysts have recently commented on JBL shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $160.00 price objective (up previously from $150.00) on shares of Jabil in a research report on Thursday, December 19th. UBS Group increased their price target on shares of Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a research report on Friday. The Goldman Sachs Group increased their price target on shares of Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Barclays increased their price target on shares of Jabil from $179.00 to $184.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, StockNews.com raised shares of Jabil from a “hold” rating to a “buy” rating in a research report on Friday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $167.50.

Insiders Place Their Bets

In other news, Director Steven A. Raymund sold 20,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $151.30, for a total transaction of $3,026,000.00. Following the sale, the director now directly owns 119,108 shares of the company’s stock, valued at $18,021,040.40. This represents a 14.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher S. Holland sold 3,400 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $162.27, for a total transaction of $551,718.00. Following the sale, the director now directly owns 12,900 shares in the company, valued at $2,093,283. This trade represents a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,400 shares of company stock valued at $12,804,458. 1.73% of the stock is currently owned by insiders.

Institutional Trading of Jabil

Several hedge funds have recently modified their holdings of JBL. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Jabil in the third quarter valued at approximately $365,000. PNC Financial Services Group Inc. grew its position in Jabil by 2.9% in the third quarter. PNC Financial Services Group Inc. now owns 35,734 shares of the technology company’s stock valued at $4,282,000 after purchasing an additional 1,013 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Jabil by 2,750.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 110,701 shares of the technology company’s stock valued at $13,265,000 after purchasing an additional 106,818 shares in the last quarter. Eagle Asset Management Inc. bought a new position in Jabil in the third quarter valued at $5,434,000. Finally, AlphaCore Capital LLC grew its position in shares of Jabil by 4.7% in the 3rd quarter. AlphaCore Capital LLC now owns 3,145 shares of the technology company’s stock valued at $377,000 after acquiring an additional 141 shares during the period. 93.39% of the stock is owned by institutional investors.

Jabil Trading Up 0.8 %

The business’s 50-day moving average price is $155.96 and its 200 day moving average price is $137.91. The company has a market cap of $15.83 billion, a P/E ratio of 13.90, a P/E/G ratio of 1.65 and a beta of 1.19. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06.

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).