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

Jabil Inc. (NYSE:JBL) announced a quarterly dividend on Thursday, January 23rd,Wall Street Journal reports. Investors of record on Tuesday, February 18th will be given a dividend of 0.08 per share by the technology company on Tuesday, March 4th. This represents a $0.32 annualized dividend and a dividend yield of 0.18%. The ex-dividend date of this dividend is Tuesday, February 18th.

Jabil has a payout ratio of 3.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Jabil to earn $9.71 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 3.3%.

Jabil Price Performance

JBL traded up $2.02 on Friday, reaching $173.26. The stock had a trading volume of 1,592,718 shares, compared to its average volume of 1,421,374. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $18.92 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 1.68 and a beta of 1.23. Jabil has a fifty-two week low of $95.85 and a fifty-two week high of $174.80. The firm has a 50-day moving average of $143.58 and a 200-day moving average of $124.78.

Jabil (NYSE:JBL) last issued its quarterly earnings data on Wednesday, December 18th. The technology company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.12. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The business had revenue of $6.99 billion during the quarter, compared to analyst estimates of $6.61 billion. During the same quarter last year, the business earned $2.60 EPS. The firm’s quarterly revenue was down 16.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Jabil will post 8.03 EPS for the current year.

Insider Activity

In related news, SVP Francis Mckay sold 11,755 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $121.71, for a total value 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 22.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Frederic E. Mccoy sold 4,283 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $122.28, for a total value of $523,725.24. Following the sale, the executive vice president now directly owns 142,472 shares of the company’s stock, valued at $17,421,476.16. This represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,038 shares of company stock worth $5,579,666 in the last three months. Company insiders own 1.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. The Goldman Sachs Group increased their price objective on Jabil from $136.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday. Bank of America upped their target price on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 27th. UBS Group raised their price target on shares of Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $160.00 price objective (up from $150.00) on shares of Jabil in a research report on Thursday, December 19th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $153.17.

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).