Jabil Inc (JBL) Expected to Post Quarterly Sales of $6.09 Billion

Analysts expect Jabil Inc (NYSE:JBL) to report sales of $6.09 billion for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Jabil’s earnings, with the highest sales estimate coming in at $6.10 billion and the lowest estimate coming in at $6.07 billion. Jabil reported sales of $5.59 billion in the same quarter last year, which indicates a positive year over year growth rate of 8.9%. The firm is expected to issue its next earnings report on Thursday, December 13th.

According to Zacks, analysts expect that Jabil will report full year sales of $24.40 billion for the current fiscal year, with estimates ranging from $24.13 billion to $24.63 billion. For the next year, analysts anticipate that the firm will report sales of $25.76 billion, with estimates ranging from $24.96 billion to $26.40 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Jabil.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Tuesday, September 25th. The technology company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.41 billion. Jabil had a net margin of 0.39% and a return on equity of 16.56%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 earnings per share.

JBL has been the subject of several research analyst reports. JPMorgan Chase & Co. set a $37.00 price objective on shares of Jabil and gave the stock a “buy” rating in a report on Wednesday, September 26th. ValuEngine downgraded shares of Jabil from a “hold” rating to a “sell” rating in a report on Saturday, October 6th. Finally, TheStreet downgraded shares of Jabil from a “b-” rating to a “c+” rating in a report on Tuesday, October 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $32.33.

In other Jabil news, President William E. Peters sold 13,915 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $29.48, for a total value of $410,214.20. Following the completion of the sale, the president now directly owns 511,562 shares of the company’s stock, valued at approximately $15,080,847.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alessandro Parimbelli sold 20,500 shares of the company’s stock in a transaction dated Thursday, October 4th. The shares were sold at an average price of $26.40, for a total transaction of $541,200.00. Following the completion of the sale, the chief executive officer now directly owns 339,811 shares of the company’s stock, valued at $8,971,010.40. The disclosure for this sale can be found here. Insiders sold a total of 92,245 shares of company stock valued at $2,589,070 over the last three months. 2.60% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Alliancebernstein L.P. lifted its stake in Jabil by 29.6% during the third quarter. Alliancebernstein L.P. now owns 283,602 shares of the technology company’s stock valued at $7,680,000 after buying an additional 64,791 shares in the last quarter. Commonwealth Bank of Australia lifted its stake in Jabil by 62.0% during the third quarter. Commonwealth Bank of Australia now owns 283,628 shares of the technology company’s stock valued at $7,676,000 after buying an additional 108,500 shares in the last quarter. Prudential Financial Inc. lifted its stake in Jabil by 5.0% during the third quarter. Prudential Financial Inc. now owns 1,441,318 shares of the technology company’s stock valued at $39,030,000 after buying an additional 68,708 shares in the last quarter. Ffcm LLC lifted its stake in Jabil by 306.8% during the third quarter. Ffcm LLC now owns 6,533 shares of the technology company’s stock valued at $176,000 after buying an additional 4,927 shares in the last quarter. Finally, LSV Asset Management lifted its stake in Jabil by 3.4% during the third quarter. LSV Asset Management now owns 5,495,819 shares of the technology company’s stock valued at $148,826,000 after buying an additional 181,075 shares in the last quarter. 93.28% of the stock is owned by institutional investors.

JBL stock traded down $0.18 during trading on Monday, hitting $25.85. The company had a trading volume of 1,571,261 shares, compared to its average volume of 1,885,256. The company has a market capitalization of $4.17 billion, a P/E ratio of 11.91 and a beta of 0.54. Jabil has a fifty-two week low of $23.04 and a fifty-two week high of $31.77. The company has a quick ratio of 0.57, a current ratio of 1.04 and a debt-to-equity ratio of 1.27.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Wednesday, November 14th. Jabil’s payout ratio is 14.75%.

Jabil Company Profile

Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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).

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