Jabil Circuit (JBL) is Downgraded by Needham to Hold

Jabil Circuit (JBL) was Downgraded by Needham to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Needham advised their investors in a research report released on Sep 23, 2016.

Many Wall Street Analysts have commented on Jabil Circuit. Company shares were Reiterated by RBC Capital Mkts on Sep 22, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 23 from a previous price target of $20 .Company shares were Upgraded by UBS on Sep 21, 2016 to ” Buy”, Firm has raised the Price Target to $ 27 from a previous price target of $20 .Jabil Circuit was Upgraded by Goldman to ” Neutral” on Sep 20, 2016.

On the company’s financial health, Jabil Circuit reported $0.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Sep 21, 2016. Analyst had a consensus of $0.25. The company had revenue of $4400.00 million for the quarter, compared to analysts expectations of $4264.60 million. The company’s revenue was down -6.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.53 EPS.

Jabil Circuit closed down -1.33 points or -5.60% at $22.4 with 81,02,528 shares getting traded on Thursday. Post opening the session at $22.08, the shares hit an intraday low of $21.84 and an intraday high of $22.79 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on Sep 20, 2016, William E Peters (President) sold 20,000 shares at $23.25 per share price. According to the SEC, on Sep 20, 2016, Michael J Loparco (EVP, CEO, Engineered Solutions) sold 2,000 shares at $22.90 per share price. On Sep 20, 2016, Mark T Mondello (Chief Executive Officer) sold 10,000 shares at $23.00 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

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