Jabil (NYSE:JBL) Updates FY 2022 Earnings Guidance

Jabil (NYSE:JBLGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $7.45-$7.45 for the period, compared to the consensus estimate of $7.25. The company issued revenue guidance of $32.80 billion-$32.80 billion, compared to the consensus revenue estimate of $32.67 billion. Jabil also updated its Q4 2022 guidance to $1.94-$2.34 EPS.

Shares of NYSE JBL opened at $58.81 on Thursday. Jabil has a twelve month low of $52.43 and a twelve month high of $72.11. The company has a quick ratio of 0.55, a current ratio of 1.01 and a debt-to-equity ratio of 1.02. The stock’s 50 day moving average price is $58.71 and its 200-day moving average price is $61.20. The company has a market capitalization of $8.30 billion, a PE ratio of 10.85, a PEG ratio of 0.76 and a beta of 1.37.

Jabil (NYSE:JBLGet Rating) last released its earnings results on Wednesday, March 16th. The technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.24. Jabil had a return on equity of 36.62% and a net margin of 2.63%. The business had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.44 billion. During the same quarter in the prior year, the firm earned $0.99 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. As a group, research analysts expect that Jabil will post 6.5 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 2nd. Shareholders of record on Monday, May 16th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, May 13th. This represents a $0.32 annualized dividend and a yield of 0.54%. Jabil’s dividend payout ratio (DPR) is presently 5.90%.

Several equities research analysts recently weighed in on JBL shares. Citigroup reissued a top pick rating and set a $90.00 price target on shares of Jabil in a research report on Thursday, March 17th. The Goldman Sachs Group dropped their price target on shares of Jabil from $78.00 to $69.00 and set a buy rating on the stock in a research note on Wednesday, June 1st. Finally, StockNews.com upgraded shares of Jabil from a buy rating to a strong-buy rating in a research note on Friday, April 15th. Four investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of Buy and an average price target of $77.33.

In other news, Director Anousheh Ansari sold 3,500 shares of the stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $62.00, for a total value of $217,000.00. Following the sale, the director now owns 37,400 shares in the company, valued at $2,318,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark T. Mondello sold 12,000 shares of the stock in a transaction on Monday, April 4th. The stock was sold at an average price of $62.20, for a total transaction of $746,400.00. Following the completion of the sale, the chief executive officer now owns 2,055,589 shares in the company, valued at approximately $127,857,635.80. The disclosure for this sale can be found here. Corporate insiders own 2.59% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in JBL. Invesco Ltd. boosted its holdings in Jabil by 230.6% during the first quarter. Invesco Ltd. now owns 1,863,230 shares of the technology company’s stock worth $115,018,000 after buying an additional 1,299,593 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in Jabil during the first quarter worth $23,055,000. Sei Investments Co. lifted its holdings in Jabil by 58.6% during the first quarter. Sei Investments Co. now owns 382,918 shares of the technology company’s stock valued at $23,633,000 after purchasing an additional 141,511 shares in the last quarter. BlackRock Inc. lifted its holdings in Jabil by 1.1% during the fourth quarter. BlackRock Inc. now owns 12,313,344 shares of the technology company’s stock valued at $866,242,000 after purchasing an additional 138,430 shares in the last quarter. Finally, State Street Corp lifted its holdings in Jabil by 3.0% during the first quarter. State Street Corp now owns 4,454,878 shares of the technology company’s stock valued at $275,000,000 after purchasing an additional 127,736 shares in the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Jabil Company Profile (Get Rating)

Jabil Inc provides manufacturing services and solutions worldwide. The company operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides electronic 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).

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