Jabil Inc. (NYSE:JBL) Expected to Post FY2024 Earnings of $8.63 Per Share

Posted by Defense World Staff on Sep 8th, 2023

Jabil Inc. (NYSE:JBL – Free Report) – Equities research analysts at Zacks Research decreased their FY2024 earnings estimates for Jabil in a research note issued on Tuesday, September 5th. Zacks Research analyst S. Bose now forecasts that the technology company will earn $8.63 per share for the year, down from their previous forecast of $8.64. The consensus estimate for Jabil’s current full-year earnings is $7.94 per share.

A number of other brokerages also recently issued reports on JBL. Bank of America increased their price objective on shares of Jabil from $91.00 to $108.00 in a research note on Monday, June 12th. Barclays initiated coverage on shares of Jabil in a report on Thursday. They issued an “overweight” rating and a $134.00 price objective for the company. Stifel Nicolaus raised their price target on shares of Jabil from $90.00 to $105.00 in a report on Monday, June 12th. Credit Suisse Group boosted their target price on shares of Jabil from $110.00 to $125.00 in a research report on Friday, June 16th. Finally, VNET Group reiterated a “maintains” rating on shares of Jabil in a research report on Friday, June 16th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.67.

Read Our Latest Stock Report on JBL

Jabil Price Performance

NYSE:JBL opened at $108.65 on Thursday. Jabil has a 52 week low of $55.26 and a 52 week high of $117.29. The firm has a market cap of $14.22 billion, a price-to-earnings ratio of 15.30, a P/E/G ratio of 1.09 and a beta of 1.46. The firm’s 50-day simple moving average is $109.47 and its 200 day simple moving average is $94.43. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 1.06.

Jabil (NYSE:JBL – Get Free Report) last issued its quarterly earnings data on Thursday, June 15th. The technology company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.12. Jabil had a net margin of 2.77% and a return on equity of 39.61%. The company had revenue of $8.48 billion for the quarter, compared to analyst estimates of $8.20 billion. During the same period in the prior year, the firm earned $1.52 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis.

Institutional Investors Weigh In On Jabil

Several institutional investors have recently added to or reduced their stakes in JBL. Wellington Management Group LLP purchased a new stake in Jabil during the first quarter valued at about $384,818,000. JPMorgan Chase & Co. raised its stake in Jabil by 71.2% in the first quarter. JPMorgan Chase & Co. now owns 6,232,495 shares of the technology company’s stock valued at $549,457,000 after purchasing an additional 2,591,893 shares in the last quarter. FMR LLC raised its stake in Jabil by 27.5% in the first quarter. FMR LLC now owns 8,552,930 shares of the technology company’s stock valued at $754,026,000 after purchasing an additional 1,844,254 shares in the last quarter. Norges Bank bought a new position in Jabil during the fourth quarter valued at approximately $102,656,000. Finally, Invesco Ltd. grew its position in Jabil by 230.6% during the first quarter. Invesco Ltd. now owns 1,863,230 shares of the technology company’s stock valued at $115,018,000 after acquiring an additional 1,299,593 shares during the last quarter. 92.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Jabil

In related news, Director Anousheh Ansari sold 3,000 shares of the stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $108.61, for a total transaction of $325,830.00. Following the completion of the transaction, the director now owns 38,000 shares in the company, valued at $4,127,180. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.75% of the stock is owned by company insiders.

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Tuesday, August 15th were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, August 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.29%. Jabil’s payout ratio is 4.51%.

Jabil Company Profile

(Get Free Report)

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