Jabil Circuit (JBL) is Downgraded by Goldman to Sell, Lowers Price Target to $ 17

Jabil Circuit (JBL) was Downgraded by Goldman to ” Sell” while Lowering the Price Target of the company shares to $ 17 from a previous price target of $19 . Earlier the firm had a rating of “Neutral ” on the company shares. Goldman advised their investors in a research report released on Jun 7, 2016.

Many Wall Street Analysts have commented on Jabil Circuit. Jabil Circuit was Downgraded by Argus to ” Hold” on Mar 18, 2016. Shares were Reiterated by RBC Capital Mkts on Mar 17, 2016 to “Sector Perform” and Lowered the Price Target to $ 21 from a previous price target of $23 .Shares were Reiterated by Needham on Mar 17, 2016 to “Buy” and Lowered the Price Target to $ 25 from a previous price target of $29 .

On the company’s financial health, Jabil Circuit reported $0.57 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Mar 16, 2016. Analyst had a consensus of $0.59. The company had revenue of $4404.00 million for the quarter, compared to analysts expectations of $4487.49 million. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.

Jabil Circuit closed down -0.17 points or -0.87% at $19.43 with 14,58,514 shares getting traded on Friday. Post opening the session at $19.55, the shares hit an intraday low of $19.24 and an intraday high of $19.55 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Mar 4, 2016, Sergio Cadavid (SVP, Treasurer) sold 3,098 shares at $21.50 per share price. According to the SEC, on Dec 7, 2015, Michael J Loparco (EVP, CEO High Velocity, I&E) sold 2,500 shares at $25.95 per share price. On Dec 2, 2015, Thomas A Sansone (director) sold 25,000 shares at $25.75 per share price, according to the Form-4 filing with the securities and exchange commission.

Jabil Circuit Inc. provides electronic manufacturing services and solutions. The Company provides electronic design production and product management services to companies in the aerospace automotive computing defense digital home energy healthcare industrial instrumentation lifestyles mobility mold networking packaging peripherals storage telecommunications and wearable technology industries. The Company’s operating segments include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The EMS segment is focused around leveraging information technology (IT) supply chain design and engineering technologies centered on core electronics. The DMS segment is focused on providing engineering solutions heavy participation in consumer markets access to higher growth markets and a focus on material sciences and technologies.

Jabil Circuit

Leave a Reply

Jabil Circuit - Is it time to Sell?

Top Brokerage Firms are advising their investors on Jabil Circuit. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.