Jabil (NYSE:JBL) Releases FY 2024 Earnings Guidance

Jabil (NYSE:JBL) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 8.400-8.400 for the period, compared to the consensus estimate of 8.370. The company issued revenue guidance of -. Jabil also updated its Q3 2024 guidance to 1.650-2.050 EPS.

Jabil Stock Performance

Shares of Jabil stock opened at $117.79 on Wednesday. Jabil has a 12 month low of $83.63 and a 12 month high of $156.94. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.17 and a quick ratio of 0.72. The stock has a market capitalization of $14.21 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 1.29 and a beta of 1.42. The firm’s fifty day simple moving average is $126.55 and its 200-day simple moving average is $129.39.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Friday, March 15th. The technology company reported $1.54 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.01). The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.91 billion. Jabil had a net margin of 4.70% and a return on equity of 39.47%. As a group, equities analysts forecast that Jabil will post 7.83 earnings per share for the current year.

Jabil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 15th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. The ex-dividend date is Tuesday, May 14th. Jabil’s dividend payout ratio is currently 2.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on JBL shares. The Goldman Sachs Group upped their target price on Jabil from $141.00 to $161.00 and gave the company a buy rating in a research report on Monday, March 4th. Argus cut shares of Jabil from a buy rating to a hold rating in a report on Tuesday, March 19th. Barclays dropped their price target on Jabil from $151.00 to $149.00 and set an overweight rating on the stock in a report on Monday, March 18th. Finally, StockNews.com raised Jabil from a hold rating to a buy rating in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Buy and a consensus target price of $144.50.

Insider Transactions at Jabil

In related news, CEO Kenneth S. Wilson sold 15,000 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $134.20, for a total value of $2,013,000.00. Following the sale, the chief executive officer now directly owns 339,725 shares of the company’s stock, valued at approximately $45,591,095. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Jabil news, CEO Kenneth S. Wilson sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $134.20, for a total transaction of $2,013,000.00. Following the completion of the sale, the chief executive officer now directly owns 339,725 shares in the company, valued at $45,591,095. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gerald Creadon sold 3,000 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $135.62, for a total transaction of $406,860.00. Following the transaction, the executive vice president now owns 65,434 shares in the company, valued at approximately $8,874,159.08. The disclosure for this sale can be found here. Insiders have sold 75,877 shares of company stock worth $9,824,383 in the last three months. Insiders own 2.62% of the company’s stock.

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).