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Based in Saint Petersburg, Florida, Jabil Inc. (JBL) operates in the electronic manufacturing services industry, providing comprehensive design, production, and management solutions across various sectors. With a market cap of $12.4 billion, the company's fiscal Q4 2024 ends in August 2024.
Ahead of the upcoming event, analysts forecast Jabil to report a profit of $2.13 per share, down around 9% from $2.34 per share in the previous year's quarter. The company has surpassed Wall Street's bottom-line estimates in three of the past four quarters while missing on one other occasion. In the most recent quarter, the company reported an EPS of $1.87, exceeding the consensus estimate by a margin of 6.9%.
For fiscal 2024, analysts expect JBL to report EPS of $7.86, down marginally from $7.93 in fiscal 2023. However, looking forward to fiscal 2025, EPS is expected to grow 7.3% year over year to $8.43.
JBL stock plunged 12.2% on a YTD basis, lagging behind the broader S&P 500 Index's ($SPX) nearly 15.3% rise and the S&P 500 Technology Sector SPDR (XLK)'s 11.7% gain over the same period.
Despite better-than-expected Q3 earnings results, Jabil stock tumbled 11.4% on Jun. 20 due to a 20.2% year-over-year revenue decline and lower earnings, driven by weaknesses in key end markets such as 5G, renewable energy, and digital print. Additionally, management's warnings about near-term headwinds in the transportation and medical device sectors further spooked investors.
Analysts' consensus rating on Jabil stock is bullish, with a "Strong Buy" rating overall. Among eight analysts covering the stock, opinions include six "Strong Buys" and two "Holds." This configuration has remained steady over the past three months. The average analyst price target for JBL is $136.28, suggesting a modest potential upside of 24.6% from current levels.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
