Jabil (NYSE: JBL) Issues Q4 2022 Earnings Guidance

Jabil (NYSE: JBL – Get Rating) updated its fourth quarter 2022 earnings guidance on Thursday. The company provided EPS guidance of $ 1.94- $ 2.34 for the period, compared to the consensus EPS estimate of $ 2.01. The company issued revenue guidance of $ 8.10 billion- $ 8.70 billion, compared to the consensus revenue estimate of $ 8.27 billion. Jabil also updated its FY 2022 guidance to $ 7.45- $ 7.45 EPS.

A number of research analysts have recently commented on the stock. The Goldman Sachs Group dropped their price objective on shares of Jabil from $ 78.00 to $ 69.00 and set a buy rating for the company in a research note on Wednesday, June 1st. StockNews.com raised shares of Jabil from a buy rating to a strong-buy rating in a research note on Friday, April 15th. Finally, Citigroup decreased their target price on Jabil from $ 90.00 to $ 80.00 in a report on Friday, June 17th. Three equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Strong Buy and an average target price of $ 74.80.

NYSE JBL opened at $ 53.56 on Thursday. The stock has a market cap of $ 7.56 billion, a PE ratio of 9.20, a P / E / G ratio of 0.69 and a beta of 1.37. Jabil has a fifty-two week low of $ 51.90 and a fifty-two week high of $ 72.11. The business has a 50 day moving average price of $ 58.32 and a two-hundred day moving average price of $ 61.01. The company has a quick ratio of 0.54, a current ratio of 1.04 and a debt-to-equity ratio of 1.22.

Jabil (NYSE: JBL – Get Rating) last released its quarterly earnings results on Thursday, June 16th. The technology company reported $ 1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $ 1.62 by $ 0.10. Jabil had a return on equity of 37.88% and a net margin of 2.69%. During the same period in the previous year, the firm posted $ 1.12 earnings per share. Sell-side analysts anticipate that Jabil will post 6.59 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 2nd. Shareholders of record on Monday, May 16th were given a $ 0.08 dividend. This represents a $ 0.32 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Friday, May 13th. Jabil’s payout ratio is 5.50%.

In related news, CEO Mark T. Mondello sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $ 62.20, for a total transaction of $ 746,400.00. Following the sale, the chief executive officer now directly owns 2,055,589 shares of the company’s stock, valued at approximately $ 127,857,635.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Anousheh Ansari sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $ 62.00, for a total value of $ 217,000.00. Following the sale, the director now directly owns 37,400 shares in the company, valued at $ 2,318,800. The disclosure for this sale can be found here. Corporate insiders own 2.59% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Cetera Advisor Networks LLC raised its position in shares of Jabil by 4.7% during the 1st quarter. Cetera Advisor Networks LLC now owns 3,989 shares of the company’s technology stock valued at $ 246,000 after acquiring an additional 180 shares in the last quarter. Beacon Pointe Advisors LLC increased its position in Jabil by 5.3% in the first quarter. Beacon Pointe Advisors LLC now owns 5,583 shares of the company’s technology stock worth $ 345,000 after buying an additional 283 shares during the period. Ensign Peak Advisors Inc increased its position in Jabil by 0.5% in the first quarter. Ensign Peak Advisors Inc now owns 57,639 shares of the company’s technology stock worth $ 3,558,000 after buying an additional 295 shares during the period. Zions Bancorporation NA bought a new position in shares of Jabil in the first quarter worth $ 40,000. Finally, Signet Financial Management LLC grew its stake in shares of Jabil by 3.4% in the first quarter. Signet Financial Management LLC now owns 25,668 shares of the company’s technology stock worth $ 1,584,000 after purchasing an additional 844 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

About Jabil (Get Rating)

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 electro-mechanics, such as the printed circuit board assemblies (PCBA).

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