Jabil (NYSE:JBL) Updates Q1 2022 Earnings Guidance

Jabil (NYSE:JBL) updated its first quarter 2022 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.700-$1.900 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.750. The company issued revenue guidance of $8 billion-$8.60 billion, compared to the consensus revenue estimate of $8.25 billion.

A number of equities analysts have recently issued reports on the stock. Citigroup increased their price objective on shares of Jabil from $80.00 to $90.00 and gave the company a buy rating in a research note on Thursday, September 30th. Raymond James increased their price objective on shares of Jabil from $66.00 to $70.00 and gave the company a strong-buy rating in a research note on Thursday, September 30th. Stifel Nicolaus upgraded shares of Jabil from a hold rating to a buy rating and increased their price objective for the company from $63.00 to $68.00 in a research note on Thursday, September 30th. Zacks Investment Research upgraded shares of Jabil from a hold rating to a strong-buy rating and set a $65.00 price objective on the stock in a research note on Tuesday, June 22nd. Finally, raised their target price on shares of Jabil from $70.00 to $80.00 and gave the company a buy rating in a research note on Friday, June 18th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Buy and an average target price of $64.22.

JBL traded up $1.40 during trading on Thursday, hitting $62.66. The stock had a trading volume of 3,819 shares, compared to its average volume of 889,997. Jabil has a twelve month low of $31.41 and a twelve month high of $64.32. The stock has a 50 day simple moving average of $60.90 and a two-hundred day simple moving average of $57.41. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.64 and a current ratio of 1.04. The company has a market capitalization of $9.14 billion, a PE ratio of 15.87, a PEG ratio of 1.04 and a beta of 1.36.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Tuesday, September 28th. The technology company reported $1.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.06. Jabil had a net margin of 2.02% and a return on equity of 29.25%. The business had revenue of $7.40 billion during the quarter, compared to the consensus estimate of $7.67 billion. During the same period in the previous year, the firm posted $0.44 earnings per share. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, equities research analysts anticipate that Jabil will post 4.57 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 2nd. Stockholders of record on Friday, August 13th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, August 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.51%. Jabil’s payout ratio is currently 91.43%.

Jabil announced that its board has approved a stock buyback program on Friday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to purchase up to 11.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

In related news, Director Thomas A. Sansone sold 25,000 shares of the firm’s stock in a transaction on Monday, August 2nd. The shares were sold at an average price of $60.25, for a total transaction of $1,506,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Loparco sold 3,000 shares of the firm’s stock in a transaction on Monday, August 2nd. The stock was sold at an average price of $60.33, for a total transaction of $180,990.00. The disclosure for this sale can be found here. Insiders have sold 96,581 shares of company stock valued at $5,843,840 over the last quarter. Insiders own 2.81% of the company’s stock.

A hedge fund recently raised its stake in Jabil stock. Morgan Stanley raised its position in Jabil Inc. (NYSE:JBL) by 17.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 711,983 shares of the technology company’s stock after buying an additional 108,120 shares during the period. Morgan Stanley owned about 0.49% of Jabil worth $41,381,000 at the end of the most recent quarter. 88.93% of the stock is owned by institutional investors and hedge funds.

About Jabil

Jabil, Inc engages in the provision of electronic manufacturing services and solutions. It offers electronics design, production, product management, and repair services to companies in the automotive and transportation, capital equipment, consumer lifestyles and wearable technologies, computing and storage, defense and aerospace, digital home, healthcare, industrial and energy, mobility, networking and telecommunications, packaging, point of sale, and printing industries.

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