Jabil Circuit, Inc. (NYSE:JBL) President William E. Peters sold 3,580 shares of the firm’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $28.74, for a total transaction of $102,889.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Jabil Circuit, Inc. (NYSE JBL) traded up 0.87% on Tuesday, reaching $28.86. 2,455,492 shares of the company’s stock were exchanged. The stock has a market cap of $5.17 billion, a P/E ratio of 44.40 and a beta of 0.59. The company’s 50 day moving average price is $29.94 and its 200-day moving average price is $29.75. Jabil Circuit, Inc. has a 52-week low of $20.32 and a 52-week high of $31.70.
Jabil Circuit (NYSE:JBL) last posted its quarterly earnings results on Wednesday, September 27th. The technology company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.86 billion. Jabil Circuit had a return on equity of 14.47% and a net margin of 0.68%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 EPS. Equities analysts forecast that Jabil Circuit, Inc. will post $2.58 EPS for the current fiscal year.
Jabil Circuit declared that its board has initiated a share repurchase program on Thursday, July 20th that allows the company to buyback $450.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 8.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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Several research analysts have recently issued reports on the stock. BidaskClub lowered shares of Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. J P Morgan Chase & Co assumed coverage on shares of Jabil Circuit in a research note on Wednesday, August 2nd. They issued an “overweight” rating and a $40.00 target price on the stock. Goldman Sachs Group, Inc. (The) lowered shares of Jabil Circuit from a “neutral” rating to a “sell” rating and reduced their target price for the company from $28.00 to $26.00 in a research note on Tuesday, October 10th. Citigroup Inc. reaffirmed a “sell” rating and issued a $28.00 target price on shares of Jabil Circuit in a research note on Thursday, September 28th. Finally, Macquarie assumed coverage on shares of Jabil Circuit in a research note on Thursday, June 22nd. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $30.50.
Several institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its holdings in shares of Jabil Circuit by 1.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,194 shares of the technology company’s stock worth $236,000 after buying an additional 109 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Jabil Circuit by 0.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 50,734 shares of the technology company’s stock worth $1,482,000 after buying an additional 194 shares in the last quarter. IHT Wealth Management LLC boosted its holdings in shares of Jabil Circuit by 142.6% during the 2nd quarter. IHT Wealth Management LLC now owns 359 shares of the technology company’s stock worth $159,000 after buying an additional 211 shares in the last quarter. Colonial Trust Advisors boosted its holdings in shares of Jabil Circuit by 3.5% during the 1st quarter. Colonial Trust Advisors now owns 14,800 shares of the technology company’s stock worth $431,000 after buying an additional 500 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Jabil Circuit by 1.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 41,972 shares of the technology company’s stock worth $1,214,000 after buying an additional 502 shares in the last quarter. Hedge funds and other institutional investors own 92.86% of the company’s stock.
Jabil Circuit Company Profile
Jabil Inc, formerly Jabil Circuit, Inc, provides electronic manufacturing services and solutions throughout the world. The Company operates in two segments, which include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The Company’s EMS segment is focused on leveraging information technology (IT), supply chain design and engineering, technologies centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a range of markets.
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