Jabil (NYSE:JBL – Get Rating) updated its first quarter 2023 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.00-$2.40 for the period, compared to the consensus estimate of $2.10. The company issued revenue guidance of $9.00 billion-$9.60 billion, compared to the consensus revenue estimate of $8.93 billion. Jabil also updated its Q1 guidance to $2.00-2.40 EPS.
Jabil Stock Performance
NYSE:JBL opened at $58.60 on Tuesday. The stock has a market cap of $8.06 billion, a P/E ratio of 10.03, a PEG ratio of 0.68 and a beta of 1.40. The company has a quick ratio of 0.54, a current ratio of 1.04 and a debt-to-equity ratio of 1.22. The business’s 50-day moving average price is $59.53 and its two-hundred day moving average price is $58.28. Jabil has a twelve month low of $48.80 and a twelve month high of $72.11.
Jabil (NYSE:JBL – Get Rating) last posted its quarterly earnings data on Tuesday, September 27th. The technology company reported $2.34 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.20. Jabil had a net margin of 2.69% and a return on equity of 37.88%. The company had revenue of $9.03 billion for the quarter, compared to analysts’ expectations of $8.40 billion. During the same period in the prior year, the business earned $1.16 earnings per share. Jabil’s revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, equities analysts predict that Jabil will post 6.59 EPS for the current fiscal year.
Jabil Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Monday, August 15th were given a $0.08 dividend. The ex-dividend date was Friday, August 12th. This represents a $0.32 annualized dividend and a yield of 0.55%. Jabil’s dividend payout ratio (DPR) is presently 5.50%.
Wall Street Analyst Weigh In
Several brokerages have issued reports on JBL. Citigroup dropped their price target on Jabil from $90.00 to $80.00 in a research note on Friday, June 17th. Credit Suisse Group assumed coverage on Jabil in a research report on Tuesday, August 16th. They issued an outperform rating and a $74.00 target price for the company. Finally, The Goldman Sachs Group decreased their price target on shares of Jabil from $78.00 to $69.00 and set a buy rating on the stock in a research note on Wednesday, June 1st. Four analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Buy and an average target price of $74.67.
Insider Activity at Jabil
In related news, EVP Robert L. Katz sold 9,477 shares of the firm’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $55.00, for a total transaction of $521,235.00. Following the transaction, the executive vice president now directly owns 143,680 shares in the company, valued at approximately $7,902,400. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Jabil news, EVP Robert L. Katz sold 10,423 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $59.29, for a total value of $617,979.67. Following the transaction, the executive vice president now owns 133,257 shares in the company, valued at $7,900,807.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert L. Katz sold 9,477 shares of the stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $55.00, for a total transaction of $521,235.00. Following the sale, the executive vice president now owns 143,680 shares of the company’s stock, valued at $7,902,400. The disclosure for this sale can be found here. 2.59% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Jabil
Institutional investors and hedge funds have recently bought and sold shares of the business. Cetera Advisor Networks LLC lifted its stake in Jabil by 4.7% in the first quarter. Cetera Advisor Networks LLC now owns 3,989 shares of the technology company’s stock worth $246,000 after acquiring an additional 180 shares during the period. Private Advisor Group LLC bought a new position in Jabil in the first quarter worth about $399,000. Great West Life Assurance Co. Can lifted its holdings in Jabil by 10.5% in the first quarter. Great West Life Assurance Co. Can now owns 83,585 shares of the technology company’s stock worth $5,312,000 after buying an additional 7,933 shares during the period. Sei Investments Co. grew its holdings in shares of Jabil by 58.6% during the 1st quarter. Sei Investments Co. now owns 382,918 shares of the technology company’s stock worth $23,633,000 after acquiring an additional 141,511 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in shares of Jabil by 656.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 21,700 shares of the technology company’s stock worth $1,340,000 after acquiring an additional 18,832 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.
About Jabil
Jabil Inc provides manufacturing services and solutions worldwide. The company operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides electronic 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).
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