Jabil (NYSE:JBL) Issues Q3 2023 Earnings Guidance

Jabil (NYSE:JBL – Get Rating) issued an update on its third quarter 2023 earnings guidance on Thursday morning. The company provided EPS guidance of $1.70-$2.10 for the period, compared to the consensus EPS estimate of $1.88. The company issued revenue guidance of $7.90 billion-$8.50 billion, compared to the consensus revenue estimate of $8.14 billion. Jabil also updated its FY 2023 guidance to EPS.

Jabil Stock Up 0.8 %

Shares of JBL stock opened at $78.96 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.57 and a debt-to-equity ratio of 0.96. Jabil has a 1 year low of $48.80 and a 1 year high of $85.70. The firm’s fifty day moving average price is $81.00 and its two-hundred day moving average price is $70.18. The firm has a market capitalization of $10.52 billion, a P/E ratio of 11.44, a PEG ratio of 0.84 and a beta of 1.43.

Jabil (NYSE:JBL – Get Rating) last issued its quarterly earnings results on Thursday, December 15th. The technology company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.89 by ($0.28). Jabil had a net margin of 2.74% and a return on equity of 39.80%. The business had revenue of $9.64 billion during the quarter, compared to analyst estimates of $9.28 billion. On average, equities analysts predict that Jabil will post 7.81 EPS for the current fiscal year.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 2nd. Shareholders of record on Wednesday, February 15th were paid a $0.08 dividend. The ex-dividend date was Tuesday, February 14th. This represents a $0.32 annualized dividend and a yield of 0.41%. Jabil’s payout ratio is currently 4.64%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on JBL shares. Raymond James boosted their price objective on shares of Jabil from $84.00 to $100.00 and gave the stock a strong-buy rating in a research note on Tuesday, March 14th. Credit Suisse Group boosted their price objective on shares of Jabil from $90.00 to $110.00 and gave the stock an outperform rating in a research note on Tuesday, February 21st. The Goldman Sachs Group boosted their price objective on shares of Jabil from $80.00 to $90.00 and gave the stock a buy rating in a research note on Friday. StockNews.com started coverage on shares of Jabil in a research note on Thursday. They set a buy rating on the stock. Finally, Citigroup boosted their price objective on shares of Jabil from $80.00 to $85.00 in a research note on Friday, December 16th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Jabil has an average rating of Buy and a consensus price target of $92.20.

Insider Buying and Selling

In related news, EVP Gerald Creadon sold 14,297 shares of Jabil stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $70.75, for a total transaction of $1,011,512.75. Following the completion of the sale, the executive vice president now owns 60,965 shares of the company’s stock, valued at approximately $4,313,273.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Kenneth S. Wilson sold 5,000 shares of Jabil stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the completion of the sale, the executive vice president now owns 337,776 shares of the company’s stock, valued at approximately $23,644,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gerald Creadon sold 14,297 shares of the business’s stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $70.75, for a total transaction of $1,011,512.75. Following the completion of the sale, the executive vice president now directly owns 60,965 shares of the company’s stock, valued at approximately $4,313,273.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 197,562 shares of company stock valued at $14,936,641. Company insiders own 2.75% of the company’s stock.

Institutional Trading of Jabil

A number of institutional investors have recently bought and sold shares of the business. Cetera Advisors LLC boosted its holdings in Jabil by 3.3% in the 4th quarter. Cetera Advisors LLC now owns 4,692 shares of the technology company’s stock valued at $320,000 after purchasing an additional 150 shares during the period. Cetera Advisor Networks LLC boosted its holdings in Jabil by 4.7% in the 1st quarter. Cetera Advisor Networks LLC now owns 3,989 shares of the technology company’s stock valued at $246,000 after purchasing an additional 180 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Jabil by 0.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 50,349 shares of the technology company’s stock valued at $2,578,000 after purchasing an additional 195 shares during the period. Beacon Pointe Advisors LLC boosted its holdings in Jabil by 5.3% in the 1st quarter. Beacon Pointe Advisors LLC now owns 5,583 shares of the technology company’s stock valued at $345,000 after purchasing an additional 283 shares during the period. Finally, Ensign Peak Advisors Inc boosted its holdings in Jabil by 0.5% in the 1st quarter. Ensign Peak Advisors Inc now owns 57,639 shares of the technology company’s stock valued at $3,558,000 after purchasing an additional 295 shares during the period. Institutional investors own 88.45% of the company’s stock.

Jabil Company Profile

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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.