Jabil (NYSE:JBL) Issues Q3 2024 Earnings Guidance

Jabil (NYSE:JBL) updated its third quarter 2024 earnings guidance on Tuesday. The company provided EPS guidance of 1.650-2.050 for the period, compared to the consensus EPS estimate of 1.850. The company issued revenue guidance of $6.2 billion-$6.8 billion, compared to the consensus revenue estimate of $6.5 billion. Jabil also updated its FY 2024 guidance to 8.400-8.400 EPS.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. StockNews.com raised shares of Jabil from a hold rating to a buy rating in a research report on Tuesday, April 23rd. Barclays reduced their price target on shares of Jabil from $151.00 to $149.00 and set an overweight rating for the company in a research report on Monday, March 18th. Argus downgraded shares of Jabil from a buy rating to a hold rating in a research report on Tuesday, March 19th. Finally, The Goldman Sachs Group lifted their price target on shares of Jabil from $141.00 to $161.00 and gave the company a buy rating in a research report on Monday, March 4th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Buy and a consensus target price of $144.50.

Jabil Price Performance

JBL opened at $118.27 on Wednesday. The company has a market capitalization of $14.26 billion, a price-to-earnings ratio of 10.11, a P/E/G ratio of 1.29 and a beta of 1.42. Jabil has a 1 year low of $83.64 and a 1 year high of $156.94. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.17 and a quick ratio of 0.72. The firm’s fifty day moving average price is $126.55 and its two-hundred day moving average price is $129.39.

Jabil (NYSE:JBL) last released its earnings results on Friday, March 15th. The technology company reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.01). The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.91 billion. Jabil had a return on equity of 39.47% and a net margin of 4.70%. As a group, analysts anticipate that Jabil will post 7.83 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date is Tuesday, May 14th. Jabil’s payout ratio is 2.75%.

Insider Transactions at Jabil

In related news, CEO Kenneth S. Wilson sold 15,000 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $134.20, for a total value of $2,013,000.00. Following the sale, the chief executive officer now directly owns 339,725 shares in the company, valued at approximately $45,591,095. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Kenneth S. Wilson sold 15,000 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $134.20, for a total value of $2,013,000.00. Following the sale, the chief executive officer now directly owns 339,725 shares in the company, valued at approximately $45,591,095. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gerald Creadon sold 3,000 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $135.62, for a total value of $406,860.00. Following the completion of the sale, the executive vice president now owns 65,434 shares in the company, valued at $8,874,159.08. The disclosure for this sale can be found here. Insiders have sold 75,877 shares of company stock worth $9,824,383 in the last ninety days. Company insiders own 2.62% of the company’s stock.

About Jabil

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).