Wall Street brokerages forecast that Jabil Inc (NYSE:JBL) will post $6.61 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Jabil’s earnings. The lowest sales estimate is $6.60 billion and the highest is $6.62 billion. Jabil posted sales of $5.77 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 14.6%. The firm is scheduled to report its next quarterly earnings results on Tuesday, September 24th.

According to Zacks, analysts expect that Jabil will report full-year sales of $25.32 billion for the current year, with estimates ranging from $25.30 billion to $25.32 billion. For the next financial year, analysts forecast that the firm will post sales of $26.39 billion, with estimates ranging from $26.19 billion to $26.56 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Jabil.

Jabil (NYSE:JBL) last released its quarterly earnings results on Tuesday, June 18th. The technology company reported $0.57 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.57. Jabil had a net margin of 0.72% and a return on equity of 18.57%. The business had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $6.01 billion. During the same period in the prior year, the company posted $0.46 earnings per share. Jabil’s revenue was up 12.9% compared to the same quarter last year.

Separately, Zacks Investment Research cut shares of Jabil from a “hold” rating to a “sell” rating and set a $29.00 price objective for the company. in a research report on Wednesday, June 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $29.33.

JBL traded down $1.15 on Wednesday, hitting $27.52. 358,591 shares of the stock were exchanged, compared to its average volume of 1,271,775. Jabil has a 12 month low of $21.49 and a 12 month high of $32.24. The company has a 50-day moving average of $30.33. The company has a quick ratio of 0.61, a current ratio of 1.01 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 1.09 and a beta of 0.96.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be given a dividend of $0.08 per share. The ex-dividend date is Wednesday, August 14th. This represents a $0.32 annualized dividend and a yield of 1.16%. Jabil’s dividend payout ratio is 14.75%.

In related news, EVP Courtney J. Ryan sold 20,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $32.00, for a total transaction of $640,000.00. Following the completion of the sale, the executive vice president now owns 316,909 shares of the company’s stock, valued at $10,141,088. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Alessandro Parimbelli sold 3,500 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $31.89, for a total transaction of $111,615.00. Following the sale, the chief executive officer now directly owns 313,792 shares of the company’s stock, valued at approximately $10,006,826.88. The disclosure for this sale can be found here. Insiders have sold 36,500 shares of company stock valued at $1,158,595 in the last ninety days. 2.90% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new position in Jabil in the 4th quarter valued at $46,681,000. Deutsche Bank AG increased its position in Jabil by 133.8% during the 4th quarter. Deutsche Bank AG now owns 669,415 shares of the technology company’s stock valued at $16,592,000 after purchasing an additional 383,074 shares during the period. State of Alaska Department of Revenue increased its position in Jabil by 103.3% during the 1st quarter. State of Alaska Department of Revenue now owns 34,159 shares of the technology company’s stock valued at $907,000 after purchasing an additional 17,353 shares during the period. First Citizens Bank & Trust Co. increased its position in Jabil by 37.5% during the 1st quarter. First Citizens Bank & Trust Co. now owns 12,386 shares of the technology company’s stock valued at $329,000 after purchasing an additional 3,379 shares during the period. Finally, Cozad Asset Management Inc. increased its position in Jabil by 16.5% during the 1st quarter. Cozad Asset Management Inc. now owns 13,750 shares of the technology company’s stock valued at $366,000 after purchasing an additional 1,950 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.

Jabil Company Profile

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

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