Jabil (NYSE:JBL) Reaches New 1-Year High on Strong Earnings

Jabil, Inc. (NYSE:JBL) hit a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $203.90 and last traded at $196.42, with a volume of 6193307 shares traded. The stock had previously closed at $180.82.

The technology company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.28 by $0.27. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The business had revenue of $7.83 billion for the quarter, compared to analysts’ expectations of $7.03 billion. During the same period in the prior year, the business posted $1.89 earnings per share. The firm’s revenue was up 15.7% on a year-over-year basis.

Jabil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend was Thursday, May 15th. Jabil’s dividend payout ratio (DPR) is presently 6.21%.

Wall Street Analyst Weigh In

JBL has been the topic of a number of research reports. Wall Street Zen raised Jabil from a “hold” rating to a “buy” rating in a research report on Monday, May 19th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $230.00 target price (up from $170.00) on shares of Jabil in a research report on Wednesday. JPMorgan Chase & Co. upped their target price on Jabil from $180.00 to $214.00 and gave the stock an “overweight” rating in a research report on Wednesday. Argus raised Jabil from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, The Goldman Sachs Group upped their target price on Jabil from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Jabil has a consensus rating of “Buy” and an average price target of $200.00.

Insider Activity at Jabil

In other news, CEO Michael Dastoor sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $169.90, for a total transaction of $1,699,000.00. Following the completion of the sale, the chief executive officer now directly owns 221,693 shares of the company’s stock, valued at $37,665,640.70. This trade represents a 4.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Mark T. Mondello sold 20,000 shares of the firm’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $166.75, for a total value of $3,335,000.00. Following the sale, the chairman now directly owns 1,710,192 shares of the company’s stock, valued at approximately $285,174,516. This represents a 1.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 50,000 shares of company stock valued at $7,665,200. 1.73% of the stock is owned by insiders.

Institutional Investors Weigh In On Jabil

Several large investors have recently made changes to their positions in JBL. Groupe la Francaise grew its stake in shares of Jabil by 35.2% during the 1st quarter. Groupe la Francaise now owns 246 shares of the technology company’s stock worth $34,000 after acquiring an additional 64 shares during the period. Keeley Teton Advisors LLC grew its stake in shares of Jabil by 0.3% during the 1st quarter. Keeley Teton Advisors LLC now owns 25,398 shares of the technology company’s stock worth $3,456,000 after acquiring an additional 64 shares during the period. Cordatus Wealth Management LLC grew its stake in shares of Jabil by 2.9% during the 1st quarter. Cordatus Wealth Management LLC now owns 2,429 shares of the technology company’s stock worth $330,000 after acquiring an additional 68 shares during the period. AlphaCore Capital LLC grew its stake in shares of Jabil by 2.4% during the 1st quarter. AlphaCore Capital LLC now owns 3,206 shares of the technology company’s stock worth $436,000 after acquiring an additional 76 shares during the period. Finally, UniSuper Management Pty Ltd grew its stake in shares of Jabil by 0.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 30,797 shares of the technology company’s stock worth $4,191,000 after acquiring an additional 81 shares during the period. 93.39% of the stock is owned by hedge funds and other institutional investors.

Jabil Price Performance

The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.66 and a current ratio of 0.98. The company has a market cap of $21.95 billion, a P/E ratio of 39.69, a P/E/G ratio of 1.97 and a beta of 1.14. The firm has a 50 day moving average price of $160.72 and a two-hundred day moving average price of $152.47.

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).