Jabil Circuit, Inc. (JBL) Given Average Rating of “Hold” by Brokerages

Shares of Jabil Circuit, Inc. (NYSE:JBL) have been given a consensus recommendation of “Hold” by the sixteen research firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $30.60.

Several research firms have recently issued reports on JBL. BidaskClub lowered Jabil Circuit from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. J P Morgan Chase & Co began coverage on Jabil Circuit in a report on Wednesday, August 2nd. They set an “overweight” rating and a $40.00 target price on the stock. Goldman Sachs Group, Inc. (The) lowered Jabil Circuit from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $28.00 to $26.00 in a report on Tuesday, October 10th. Citigroup Inc. reissued a “sell” rating and set a $28.00 target price on shares of Jabil Circuit in a report on Thursday, September 28th. Finally, Needham & Company LLC reissued a “buy” rating and set a $37.00 target price on shares of Jabil Circuit in a report on Wednesday, September 27th.

In other Jabil Circuit news, CEO Erich Hoch sold 2,500 shares of the stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $28.49, for a total value of $71,225.00. Following the completion of the transaction, the chief executive officer now directly owns 206,943 shares in the company, valued at $5,895,806.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President William E. Peters sold 3,580 shares of the stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $28.74, for a total value of $102,889.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,680 shares of company stock valued at $2,871,346. 2.90% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of JBL. IHT Wealth Management LLC raised its position in Jabil Circuit by 142.6% in the second quarter. IHT Wealth Management LLC now owns 359 shares of the technology company’s stock valued at $159,000 after purchasing an additional 211 shares during the last quarter. Advisor Group Inc. raised its position in Jabil Circuit by 68.2% in the second quarter. Advisor Group Inc. now owns 5,765 shares of the technology company’s stock valued at $168,000 after purchasing an additional 2,337 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Jabil Circuit by 9.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,054 shares of the technology company’s stock valued at $177,000 after purchasing an additional 547 shares during the last quarter. Stevens Capital Management LP bought a new position in Jabil Circuit in the second quarter valued at about $206,000. Finally, Oppenheimer & Co. Inc. bought a new position in Jabil Circuit in the first quarter valued at about $218,000. Hedge funds and other institutional investors own 96.08% of the company’s stock.

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Shares of Jabil Circuit (JBL) traded down 0.18% during midday trading on Wednesday, hitting $28.23. 515,270 shares of the stock traded hands. The company has a market capitalization of $5.04 billion, a PE ratio of 40.91 and a beta of 0.59. Jabil Circuit has a 12-month low of $20.32 and a 12-month high of $31.70. The firm’s 50 day moving average price is $29.15 and its 200 day moving average price is $29.71.

Jabil Circuit (NYSE:JBL) last issued its quarterly earnings data on Wednesday, September 27th. The technology company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 EPS. Analysts expect that Jabil Circuit will post $2.58 EPS for the current year.

Jabil Circuit announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 20th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the technology company to purchase up to 8.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.32 annualized dividend and a dividend yield of 1.13%. Jabil Circuit’s dividend payout ratio is currently 46.38%.

About Jabil Circuit

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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