Jabil Inc. (JBL), the Saint Petersburg, Florida-based electronics manufacturing services provider, is gearing up to release its fourth-quarter earnings results before the market opens on Thursday, Sept. 26. Wall Street analysts are predicting a dip in both earnings and revenue compared to the same period last year.
According to data from Benzinga Pro, analysts expect Jabil to report quarterly earnings of $2.22 per share, down from $2.45 per share in the year-ago period. Revenue is projected to come in at $6.59 billion, a decline from $8.46 billion a year earlier. This anticipated slowdown reflects the broader economic headwinds facing the technology sector.
Despite the projected decrease in earnings and revenue, Jabil remains optimistic about its future. On Sept. 23, the company announced the expansion of its silicon photonics capabilities, a key technology for next-generation artificial intelligence (AI) and data center technologies. This strategic investment signals Jabil’s commitment to staying at the forefront of technological innovation.
Investors are closely watching Jabil’s earnings report to gauge the company’s performance amid the challenging market conditions. Several analysts have weighed in on the stock, providing insights into their outlook for the company.
Stifel analyst Matthew Sheerin maintained a Buy rating for Jabil, but lowered the price target from $135 to $130 on Sept. 17. This analyst has a 71% accuracy rate. JP Morgan analyst Samik Chatterjee also kept an Overweight rating on Jabil, cutting the price target from $137 to $133 on Sept. 3. This analyst boasts a 70% accuracy rate. Barclays analyst George Wang maintained an Overweight rating but slashed the price target from $149 to $135 on June 21. This analyst has a 61% accuracy rate. UBS analyst David Vogt kept a Neutral rating on Jabil, cutting the price target from $130 to $120 on June 21. This analyst has a 75% accuracy rate. Lastly, Argus Research analyst Jim Kelleher downgraded the stock from Buy to Hold on March 19, with an accuracy rate of 76%.
Jabil’s stock closed at $112.86 on Tuesday, down 0.2% for the day. Investors and analysts alike will be scrutinizing the company’s earnings call for insights into its future growth prospects and strategic direction.
