Jabil Circuit Inc. (NYSE:JBL) was downgraded by equities researchers at Standpoint Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday. They presently have a $26.00 target price on the stock. Standpoint Research’s price objective points to a potential upside of 18.78% from the stock’s previous close.
A number of other brokerages have also recently weighed in on JBL. Needham & Company LLC cut Jabil Circuit from a “buy” rating to a “hold” rating in a research report on Thursday. Bank of America Corp. reissued a “buy” rating on shares of Jabil Circuit in a research report on Thursday, June 16th. B. Riley reissued a “buy” rating and set a $27.00 price objective (up previously from $22.00) on shares of Jabil Circuit in a research report on Monday, September 19th. Citigroup Inc. boosted their price objective on Jabil Circuit from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Argus reissued a “hold” rating on shares of Jabil Circuit in a research report on Thursday, June 16th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $30.86.
Jabil Circuit (NYSE:JBL) opened at 21.89 on Thursday. The company’s 50-day moving average price is $21.38 and its 200-day moving average price is $19.51. Jabil Circuit has a 52-week low of $16.78 and a 52-week high of $26.00. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of 16.58 and a beta of 0.87.
Jabil Circuit (NYSE:JBL) last announced its quarterly earnings results on Wednesday, September 21st. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Jabil Circuit had a return on equity of 14.04% and a net margin of 1.63%. The company earned $4.40 billion during the quarter. During the same period in the prior year, the firm earned $0.53 EPS. Jabil Circuit’s quarterly revenue was down 6.0% on a year-over-year basis. Analysts predict that Jabil Circuit will post $2.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, August 11th. This represents a $0.32 dividend on an annualized basis and a yield of 1.46%. Jabil Circuit’s dividend payout ratio (DPR) is presently 24.24%.
In related news, President William E. Peters sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $23.25, for a total transaction of $465,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael J. Loparco sold 2,000 shares of the stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $22.90, for a total value of $45,800.00. Following the sale, the chief executive officer now owns 239,092 shares in the company, valued at $5,475,206.80. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in Jabil Circuit by 57.2% in the second quarter. FMR LLC now owns 16,352,044 shares of the company’s stock worth $302,022,000 after buying an additional 5,952,664 shares during the period. State Street Corp raised its position in shares of 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. Fairpointe Capital LLC raised its position in shares of Jabil Circuit by 14.6% in the second quarter. Fairpointe Capital LLC now owns 6,716,504 shares of the company’s stock worth $124,054,000 after buying an additional 857,238 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Jabil Circuit by 6.4% in the second quarter. BlackRock Fund Advisors now owns 6,662,039 shares of the company’s stock worth $123,048,000 after buying an additional 399,355 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Jabil Circuit by 4.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,818,253 shares of the company’s stock worth $107,463,000 after buying an additional 244,250 shares during the last quarter. Institutional investors and hedge funds 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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