Jabil (JBL) Posts Earnings Results, Misses Estimates By $0.06 EPS

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Jabil (NYSE:JBL) announced its earnings results on Thursday. The technology company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06), Morningstar.com reports. The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.12 billion. Jabil had a net margin of 0.63% and a return on equity of 19.52%. Jabil’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.66 EPS. Jabil updated its Q3 2019 guidance to $0.47-0.67 EPS and its Q3 guidance to $0.47-0.67 EPS.

Shares of Jabil stock traded down $0.62 during midday trading on Friday, reaching $26.79. 84,259 shares of the company’s stock traded hands, compared to its average volume of 1,493,758. The company has a quick ratio of 0.62, a current ratio of 1.02 and a debt-to-equity ratio of 1.31. The company has a market cap of $4.23 billion, a PE ratio of 12.80, a P/E/G ratio of 0.93 and a beta of 0.61. Jabil has a 12 month low of $21.49 and a 12 month high of $31.77.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 15th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, February 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.19%. Jabil’s dividend payout ratio is presently 14.75%.

In other Jabil news, CEO Kenneth S. Wilson sold 6,000 shares of the stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $24.30, for a total value of $145,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven D. Borges sold 7,500 shares of the stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $29.00, for a total value of $217,500.00. Following the completion of the transaction, the chief executive officer now owns 275,115 shares of the company’s stock, valued at approximately $7,978,335. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,022 shares of company stock valued at $1,125,766. 2.90% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in Jabil in the fourth quarter worth $46,681,000. Financial Advocates Investment Management raised its holdings in Jabil by 25,140.0% in the fourth quarter. Financial Advocates Investment Management now owns 30,288 shares of the technology company’s stock worth $3,049,000 after purchasing an additional 30,168 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new position in Jabil in the fourth quarter worth $1,189,000. HRT Financial LLC bought a new position in Jabil in the fourth quarter worth $385,000. Finally, Millennium Management LLC raised its holdings in Jabil by 529.6% in the fourth quarter. Millennium Management LLC now owns 1,858,462 shares of the technology company’s stock worth $46,071,000 after purchasing an additional 1,563,273 shares in the last quarter. Institutional investors and hedge funds own 89.69% of the company’s stock.

JBL has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their target price on Jabil to $30.00 and gave the company an “average” rating in a report on Wednesday, December 19th. They noted that the move was a valuation call. Zacks Investment Research upgraded Jabil from a “hold” rating to a “strong-buy” rating and set a $28.00 target price for the company in a report on Tuesday, January 15th. TheStreet upgraded Jabil from a “c+” rating to a “b” rating in a report on Monday, February 25th. ValuEngine upgraded Jabil from a “sell” rating to a “hold” rating in a report on Wednesday, November 28th. Finally, Wolfe Research initiated coverage on Jabil in a report on Tuesday, December 11th. They set a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $28.20.

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About Jabil

Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through 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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Earnings History for Jabil (NYSE:JBL)

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