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

Jabil Inc. (NYSE:JBL) announced a quarterly dividend on Thursday, October 17th,Wall Street Journal reports. Investors 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 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend is Friday, November 15th.

Jabil has a payout ratio of 3.7% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NYSE:JBL opened at $131.73 on Thursday. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. The company has a market cap of $14.86 billion, a P/E ratio of 11.95, a PEG ratio of 1.57 and a beta of 1.24. Jabil has a 52 week low of $95.85 and a 52 week high of $156.94. The company has a 50-day moving average price of $120.19 and a 200 day moving average price of $115.25.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.08. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.59 billion. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The firm’s revenue was down 17.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.34 earnings per share. Research analysts predict that Jabil will post 7.84 earnings per share for the current year.

Insiders Place Their Bets

In other Jabil news, Director Steven A. Raymund sold 20,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $124.70, for a total value of $2,494,000.00. Following the transaction, the director now owns 139,108 shares in the company, valued at $17,346,767.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Matthew Crowley sold 1,380 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $125.83, for a total value of $173,645.40. Following the sale, the executive vice president now owns 18,568 shares in the company, valued at approximately $2,336,411.44. This represents a 0.00 % decrease in their position. 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 company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $124.70, for a total transaction of $2,494,000.00. Following the completion of the sale, the director now owns 139,108 shares in the company, valued at approximately $17,346,767.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,689 shares of company stock worth $5,377,431 in the last quarter. 2.62% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on JBL shares. Bank of America lifted their price target on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Barclays lifted their price target on shares of Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Stifel Nicolaus lifted their price target on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, JPMorgan Chase & Co. cut 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. 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, Jabil presently has a consensus rating of “Moderate Buy” and an average target price of $143.50.

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).