Jabil Circuit Receives a Hold from RBC Capital

The New York-based fund Elm Ridge Management Llc disclosed it had bought so far a stake worth about 2.51% of the institutional investor’s stock portfolio in Jabil Circuit. (Symbol: JBL) crossed above their 200 day moving average of $21.67, changing hands as high as $22.78 per share. It posted earnings per share minus items of 53 cents, up from 5 cents and topping the consensus of 45 cents. Finally, TheStreet cut shares of Jabil Circuit from a “buy” rating to a “hold” rating in a research note on Tuesday, August 25th.

Jabil Circuit (JBL) is Reiterated by RBC Capital Mkts to Sector Perform according to the research report released to the investors.

Jabil Circuit (NYSE:JBL) shares traded up 12% on Friday following a stronger than expected earnings report, Market Beat Ratings reports. This indicates an increase of 5.41% when compared to previous year’s result of $7.982 billion for the same quarter. Zacks upgraded shares of Jabil Circuit from a “sell” rating to a “hold” rating in a research report on Thursday, July 2nd.

That forecast includes the diversified manufacturing group seeing a 33% jump in revenue this quarter.

Wall Street’s analysts would have settled for earnings of $0.45 per share on something like $4.6 billion in total revenues. The company has a market cap of $3,741 million and the number of outstanding shares have been calculated to be 193,829,000 shares.

Jabil Circuit has an analyst consensus of Hold, with a price target consensus of $23. Here analysts are now looking for earnings of $0.61 per share on something like $4.9 billion in top-line sales. Shareholders of record on Friday, August 14th were paid a dividend of $0.08 per share.

Jail shares are up $1.70, or nearly 9%, at $21.20, in late trading. The ex-dividend date of this dividend was Wednesday, August 12th.

For those not familiar with Jabil’s recently revamped reporting structure, EMS is kind of the industrial heavy lifting side of the company, selling large-scale electronics manufacturing services to a wide variety of customers. The Company operates in three sections: Diversified Production Services (NYSE:JBL), Enterprise & Infrastructure (E&I) and High Velocity Systems (HVS). The Organization ‘s services comprise integrated design and engineering; part selection, sourcing and procurement; design and implementation of product testing; systems construction, direct order fulfillment and configure to order, and injection molding, metal, plastics, precision machining and automation.