Bank of America Corporation reissued their buy rating on shares of Jabil Circuit, Inc. (NYSE:JBL) in a report released on Monday. The brokerage currently has a $34.00 price target on the technology company’s stock, up from their previous price target of $33.00.
Other equities analysts have also recently issued reports about the company. Zacks Investment Research cut Jabil Circuit from a buy rating to a hold rating in a research note on Tuesday, May 16th. Stifel Nicolaus lifted their price target on Jabil Circuit from $29.00 to $30.00 and gave the stock a hold rating in a research note on Thursday, June 15th. Royal Bank Of Canada lifted their price target on Jabil Circuit from $27.00 to $31.00 and gave the stock a sector perform rating in a research note on Thursday, June 15th. BidaskClub cut Jabil Circuit from a strong-buy rating to a buy rating in a research note on Saturday. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $30.00 price target on shares of Jabil Circuit in a research note on Tuesday, June 13th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $27.09.
Jabil Circuit (JBL) traded down 1.61% on Monday, hitting $28.67. The stock had a trading volume of 563,516 shares. Jabil Circuit has a 1-year low of $17.27 and a 1-year high of $31.70. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 44.11 and a beta of 0.58. The company has a 50-day moving average price of $29.66 and a 200-day moving average price of $26.67.
Jabil Circuit (NYSE:JBL) last announced its quarterly earnings results on Wednesday, June 14th. The technology company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. The business had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.40 billion. Jabil Circuit had a return on equity of 12.27% and a net margin of 0.66%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.17 EPS. Equities analysts predict that Jabil Circuit will post $2.10 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Monday, May 15th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, May 11th. This represents a $0.32 annualized dividend and a dividend yield of 1.10%. Jabil Circuit’s dividend payout ratio (DPR) is presently 50.00%.
In other news, Director Thomas A. Sansone sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $31.25, for a total transaction of $781,250.00. Following the transaction, the director now directly owns 176,688 shares of the company’s stock, valued at $5,521,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Forbes I. J. Alexander sold 4,341 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $30.00, for a total value of $130,230.00. Following the transaction, the chief financial officer now directly owns 586,184 shares in the company, valued at $17,585,520. The disclosure for this sale can be found here. Insiders have sold 255,341 shares of company stock worth $7,652,012 over the last three months. Insiders own 2.90% of the company’s stock.
A number of large investors have recently modified their holdings of the company. FMR LLC boosted its stake in shares of Jabil Circuit by 14.3% in the first quarter. FMR LLC now owns 27,333,444 shares of the technology company’s stock valued at $790,483,000 after buying an additional 3,409,496 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Jabil Circuit by 10,288.7% in the first quarter. BlackRock Inc. now owns 15,301,794 shares of the technology company’s stock valued at $442,528,000 after buying an additional 15,154,502 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Jabil Circuit by 7.0% in the first quarter. Vanguard Group Inc. now owns 13,833,140 shares of the technology company’s stock valued at $400,053,000 after buying an additional 901,400 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Jabil Circuit by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 5,641,826 shares of the technology company’s stock valued at $163,163,000 after buying an additional 112,486 shares during the last quarter. Finally, LSV Asset Management boosted its stake in shares of Jabil Circuit by 29.8% in the first quarter. LSV Asset Management now owns 2,747,837 shares of the technology company’s stock valued at $79,467,000 after buying an additional 631,653 shares during the last quarter. 95.40% of the stock is currently owned by institutional investors.
About Jabil Circuit
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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