Jabil Inc. (NYSE:JBL) Plans $0.08 Quarterly Dividend

Jabil Inc. (NYSE:JBL) declared a quarterly dividend on Thursday, October 17th,Wall Street Journal reports. Stockholders of record on Friday, November 15th will be paid a dividend of 0.08 per share by the technology company on Tuesday, December 3rd. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend is Friday, November 15th.

Jabil has a dividend payout ratio of 3.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Jabil to earn $8.99 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 3.6%.

Jabil Stock Performance

NYSE JBL opened at $131.73 on Thursday. The stock has a market capitalization of $14.86 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 1.57 and a beta of 1.24. Jabil has a twelve month low of $95.85 and a twelve month high of $156.94. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66. The stock has a 50-day moving average of $120.19 and a 200 day moving average of $115.25.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.22 by $0.08. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The company had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.59 billion. During the same period in the previous year, the business earned $2.34 EPS. Jabil’s quarterly revenue was down 17.7% on a year-over-year basis. Sell-side analysts anticipate that Jabil will post 7.84 EPS for the current fiscal year.

Insider Buying and Selling at Jabil

In other Jabil news, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $124.70, for a total value of $2,494,000.00. Following the sale, the director now directly owns 139,108 shares in the company, valued at $17,346,767.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Jabil news, SVP Francis Mckay sold 11,755 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the transaction, the senior vice president now owns 41,507 shares of the company’s stock, valued at approximately $5,051,816.97. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $124.70, for a total value of $2,494,000.00. Following the transaction, the director now directly owns 139,108 shares in the company, valued at approximately $17,346,767.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,689 shares of company stock worth $5,377,431 over the last ninety days. Corporate insiders own 2.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus upped their price target on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. lowered their price objective on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Barclays increased their price objective on Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, Bank of America upped their price target on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $143.50.

Jabil Company Profile

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).