Zacks: Brokerages Expect Jabil Inc (NYSE:JBL) Will Announce Earnings of $0.36 Per Share

Equities research analysts expect that Jabil Inc (NYSE:JBL) will report earnings of $0.36 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Jabil’s earnings, with estimates ranging from $0.21 to $0.45. Jabil posted earnings of $0.57 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 36.8%. The company is scheduled to announce its next quarterly earnings results on Tuesday, June 16th.

On average, analysts expect that Jabil will report full year earnings of $2.62 per share for the current financial year, with EPS estimates ranging from $2.23 to $2.94. For the next fiscal year, analysts anticipate that the business will post earnings of $3.64 per share, with EPS estimates ranging from $3.45 to $3.80. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Jabil.

Jabil (NYSE:JBL) last released its quarterly earnings data on Friday, March 13th. The technology company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.17. Jabil had a return on equity of 9.34% and a net margin of 0.51%. The firm had revenue of $6.10 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The business’s quarterly revenue was up 1.5% compared to the same quarter last year.

A number of equities research analysts have issued reports on the company. Zacks Investment Research upgraded Jabil from a “sell” rating to a “buy” rating and set a $29.00 price objective on the stock in a research report on Monday, May 18th. Cfra decreased their price objective on Jabil from $47.00 to $29.00 and set a “hold” rating on the stock in a research report on Friday, March 13th. ValuEngine upgraded Jabil from a “sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Argus reduced their price target on Jabil from $52.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, March 17th. Finally, Bank of America upgraded Jabil from a “neutral” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Friday, May 15th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $37.75.

JBL stock traded up $0.41 during midday trading on Friday, reaching $31.39. 1,345,900 shares of the company traded hands, compared to its average volume of 1,543,743. Jabil has a 52-week low of $17.63 and a 52-week high of $44.20. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.55 and a current ratio of 0.95. The business has a 50 day moving average of $27.54 and a 200-day moving average of $33.85. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 37.62, a P/E/G ratio of 2.38 and a beta of 1.26.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Friday, May 15th will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, May 14th. This represents a $0.32 annualized dividend and a yield of 1.02%. Jabil’s payout ratio is currently 17.68%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JBL. Norges Bank purchased a new position in Jabil during the 4th quarter worth $83,969,000. AQR Capital Management LLC increased its holdings in Jabil by 27.6% during the 4th quarter. AQR Capital Management LLC now owns 5,675,587 shares of the technology company’s stock worth $234,572,000 after purchasing an additional 1,229,247 shares during the period. Bank of Montreal Can increased its holdings in Jabil by 1,184.1% during the 4th quarter. Bank of Montreal Can now owns 1,222,652 shares of the technology company’s stock worth $50,532,000 after purchasing an additional 1,127,434 shares during the period. Renaissance Technologies LLC increased its holdings in Jabil by 83.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,811,576 shares of the technology company’s stock worth $74,872,000 after purchasing an additional 825,676 shares during the period. Finally, Man Group plc increased its holdings in Jabil by 148.3% during the 4th quarter. Man Group plc now owns 1,185,855 shares of the technology company’s stock worth $49,011,000 after purchasing an additional 708,188 shares during the period. Institutional investors own 89.87% of the company’s stock.

About Jabil

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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