Jabil Circuit Inc. (NYSE:JBL) had its target price raised by equities research analysts at Citigroup Inc. from $17.00 to $18.00 in a research report issued on Thursday. The brokerage presently has a “neutral” rating on the stock. Citigroup Inc.’s target price suggests a potential downside of 17.77% from the company’s current price.
Other equities research analysts have also recently issued research reports about the stock. UBS AG cut their price objective on shares of Jabil Circuit from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, June 16th. B. Riley reaffirmed a “buy” rating and set a $22.00 price objective on shares of Jabil Circuit in a research report on Saturday, June 18th. Needham & Company LLC reaffirmed a “buy” rating on shares of Jabil Circuit in a research report on Friday, June 17th. Bank of America Corp. reaffirmed a “buy” rating on shares of Jabil Circuit in a research report on Thursday, June 16th. Finally, Raymond James Financial Inc. reaffirmed a “buy” rating on shares of Jabil Circuit in a research report on Wednesday, July 27th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $30.86.
Jabil Circuit (NYSE:JBL) opened at 21.89 on Thursday. The company’s 50-day moving average is $21.38 and its 200 day moving average is $19.51. The company has a market cap of $4.14 billion, a price-to-earnings ratio of 16.58 and a beta of 0.87. Jabil Circuit has a 1-year low of $16.78 and a 1-year high of $26.00.
Jabil Circuit (NYSE:JBL) last posted its quarterly earnings data on Wednesday, September 21st. The company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. Jabil Circuit had a net margin of 1.63% and a return on equity of 14.04%. The business earned $4.40 billion during the quarter. During the same period in the prior year, the company earned $0.53 EPS. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. On average, equities analysts predict that Jabil Circuit will post $2.07 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.46%. The ex-dividend date was Thursday, August 11th. Jabil Circuit’s payout ratio is presently 24.24%.
In other Jabil Circuit news, CEO Michael J. Loparco sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $20.23, for a total transaction of $101,150.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael J. Loparco sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $21.90, for a total value of $43,800.00. Following the transaction, the chief executive officer now owns 241,092 shares in the company, valued at $5,279,914.80. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. State Street Corp boosted its position in Jabil Circuit by 0.4% in the first quarter. State Street Corp now owns 6,957,106 shares of the company’s stock worth $134,060,000 after buying an additional 29,792 shares during the last quarter. Eqis Capital Management Inc. boosted its position in Jabil Circuit by 4.6% in the second quarter. Eqis Capital Management Inc. now owns 15,195 shares of the company’s stock worth $281,000 after buying an additional 673 shares during the last quarter. Norges Bank acquired a new position in Jabil Circuit during the fourth quarter worth about $46,756,000. Aston Asset Management LLC boosted its position in Jabil Circuit by 1.9% in the first quarter. Aston Asset Management LLC now owns 85,959 shares of the company’s stock worth $1,656,000 after buying an additional 1,633 shares during the last quarter. Finally, Princeton Alpha Management LP boosted its position in Jabil Circuit by 81.6% in the second quarter. Princeton Alpha Management LP now owns 69,639 shares of the company’s stock worth $1,286,000 after buying an additional 31,288 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.
About Jabil Circuit
Jabil Circuit, Inc provides electronic manufacturing services and solutions. The Company provides electronic design, production and product management services to companies in the aerospace, automotive, computing, defense, digital home, energy, healthcare, industrial, instrumentation, lifestyles, mobility, mold, networking, packaging, peripherals, storage, telecommunications and wearable technology industries.
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