Jabil (NYSE:JBL) Shares Gap Up Following Earnings Beat

Shares of Jabil Inc. (NYSE:JBL) gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $133.96, but opened at $148.16. Jabil shares last traded at $146.17, with a volume of 982,781 shares trading hands.

The technology company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.12. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The firm had revenue of $6.99 billion during the quarter, compared to analysts’ expectations of $6.61 billion. During the same period in the prior year, the company earned $2.60 earnings per share. The company’s quarterly revenue was down 16.6% on a year-over-year basis.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend was Friday, November 15th. Jabil’s dividend payout ratio is presently 2.90%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on JBL shares. StockNews.com upgraded shares of Jabil from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. cut their target price on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Bank of America upped their price target on shares of Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 27th. The Goldman Sachs Group raised their price objective on Jabil from $136.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Stifel Nicolaus upped their target price on Jabil from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Jabil has a consensus rating of “Moderate Buy” and a consensus price target of $142.50.

Insider Activity at Jabil

In other news, SVP Francis Mckay sold 11,755 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $121.71, for a total value of $1,430,701.05. Following the transaction, the senior vice president now directly owns 41,507 shares of the company’s stock, valued at $5,051,816.97. The trade was a 22.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $124.70, for a total value of $2,494,000.00. Following the sale, the director now directly owns 139,108 shares of the company’s stock, valued at $17,346,767.60. This represents a 12.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,689 shares of company stock worth $5,377,431 over the last three months. Company insiders own 1.73% of the company’s stock.

Hedge Funds Weigh In On Jabil

Institutional investors and hedge funds have recently modified their holdings of the business. Synovus Financial Corp raised its stake in Jabil by 92.8% during the 3rd quarter. Synovus Financial Corp now owns 18,056 shares of the technology company’s stock worth $2,164,000 after buying an additional 8,693 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Jabil during the third quarter valued at approximately $347,000. Sanctuary Advisors LLC raised its position in shares of Jabil by 1.3% during the third quarter. Sanctuary Advisors LLC now owns 46,101 shares of the technology company’s stock worth $6,045,000 after purchasing an additional 573 shares during the period. Te Ahumairangi Investment Management Ltd lifted its holdings in shares of Jabil by 365.6% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 20,767 shares of the technology company’s stock worth $2,474,000 after purchasing an additional 16,307 shares in the last quarter. Finally, Virtu Financial LLC grew its position in Jabil by 157.9% in the 3rd quarter. Virtu Financial LLC now owns 15,091 shares of the technology company’s stock valued at $1,808,000 after purchasing an additional 9,239 shares during the period. 93.39% of the stock is currently owned by institutional investors.

Jabil Stock Up 8.4 %

The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.72 and a current ratio of 1.09. The stock’s 50 day simple moving average is $129.98 and its 200 day simple moving average is $117.78. The firm has a market cap of $16.22 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 1.57 and a beta of 1.25.

Jabil Company Profile

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).