Zacks Investment Research lowered shares of Jabil (NYSE:JBL) from a hold rating to a sell rating in a research report sent to investors on Tuesday.
According to Zacks, “Jabil's fiscal second-quarter 2018 results were backed by diversification and growing customer engagement. However, customer concentration and intensifying competition remain overhangs. Increase in investments in the EMS segment coupled with cost overshoot in the packaging business is an overhang on margins. Nonetheless, the company continues to be driven by its DMS segment, which is backed by growing healthcare and packaging business. Strong performance of the EMS segment is also a catalyst. Shares outperformed the industry in the past year.”
JBL has been the topic of several other research reports. Goldman Sachs lowered their price target on Jabil to $24.00 and set a sell rating on the stock in a research report on Friday, January 26th. Standpoint Research raised Jabil from a hold rating to a buy rating in a research report on Tuesday, February 27th. Argus raised Jabil from a hold rating to a buy rating and set a $36.00 price target on the stock in a research report on Monday, December 18th. ValuEngine lowered Jabil from a strong-buy rating to a buy rating in a research report on Monday, December 4th. Finally, Raymond James Financial reaffirmed a hold rating on shares of Jabil in a research report on Thursday, December 14th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. Jabil presently has a consensus rating of Hold and a consensus price target of $32.90.
Jabil (JBL) opened at $30.77 on Tuesday. The firm has a market capitalization of $5,437.56, a P/E ratio of 45.93, a price-to-earnings-growth ratio of 1.26 and a beta of 0.44. Jabil has a 1 year low of $23.70 and a 1 year high of $31.77. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.54 and a current ratio of 1.04.
Jabil (NYSE:JBL) last posted its quarterly earnings results on Thursday, March 15th. The technology company reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.04. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $4.91 billion. Jabil had a return on equity of 14.31% and a net margin of 0.60%. The business’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.48 EPS. sell-side analysts forecast that Jabil will post 2.05 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.32 annualized dividend and a dividend yield of 1.04%. Jabil’s dividend payout ratio is currently 47.76%.
In other news, SVP Sergio Cadavid sold 12,000 shares of Jabil stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $28.50, for a total transaction of $342,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President William E. Peters sold 13,915 shares of Jabil stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $26.00, for a total value of $361,790.00. Following the transaction, the president now owns 608,499 shares of the company’s stock, valued at $15,820,974. The disclosure for this sale can be found here. Insiders have sold a total of 72,037 shares of company stock valued at $2,009,345 over the last quarter. 2.60% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. LPL Financial LLC boosted its stake in shares of Jabil by 29.1% during the 4th quarter. LPL Financial LLC now owns 9,093 shares of the technology company’s stock worth $239,000 after acquiring an additional 2,050 shares during the period. Profund Advisors LLC boosted its stake in shares of Jabil by 11.9% during the 4th quarter. Profund Advisors LLC now owns 21,838 shares of the technology company’s stock worth $573,000 after acquiring an additional 2,329 shares during the period. Stifel Financial Corp boosted its stake in shares of Jabil by 11.2% during the 3rd quarter. Stifel Financial Corp now owns 23,989 shares of the technology company’s stock worth $684,000 after acquiring an additional 2,417 shares during the period. Comerica Bank boosted its stake in Jabil by 1.3% in the 3rd quarter. Comerica Bank now owns 219,804 shares of the technology company’s stock valued at $6,133,000 after purchasing an additional 2,853 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Jabil by 47.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,907 shares of the technology company’s stock valued at $234,000 after purchasing an additional 2,853 shares during the period. Institutional investors own 99.76% of the company’s stock.
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Jabil Company Profile
Jabil Inc, formerly Jabil Circuit, Inc, provides electronic manufacturing services and solutions throughout the world. The Company operates in two segments, which include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The Company’s EMS segment is focused on leveraging information technology (IT), supply chain design and engineering, technologies centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a range of markets.
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