Jabil Inc. (JBL) is about to open its books. The Saint Petersburg, Florida-based electronics manufacturer reports first-quarter earnings Wednesday morning before the opening bell, and Wall Street's watching closely.
Analysts are expecting quarterly earnings of $2.72 per share, which would represent a nice jump from the $2.00 per share Jabil posted in the same quarter last year. Revenue estimates are equally optimistic at $8.07 billion, up considerably from last year's $6.99 billion.
The company's been busy on the deal front too. Back on November 4, Jabil announced plans to acquire Hanley Energy Group, adding another piece to its growth strategy.
Shares haven't exactly been on a tear lately though. JBL stock fell 5.1% on Friday, closing at $222.37.
What the Most Accurate Analysts Are Saying
When it comes to analyst opinions, not all forecasts are created equal. Some analysts just have better track records than others. Here's what Wall Street's most accurate Jabil watchers have been saying recently:
B of A Securities analyst Ruplu Bhattacharya kept a Buy rating on December 10 and nudged the price target higher from $255 to $262. This analyst has nailed JBL calls 68% of the time.
Barclays analyst Tim Long maintained an Overweight rating but got more cautious on September 26, cutting the price target from $267 down to $223. Long's accuracy rate sits at 70%.
JP Morgan analyst Samik Chatterjee stuck with an Overweight rating back on July 17 and raised the price target from $214 to $256. With an 81% accuracy rate, Chatterjee's one of the sharper voices covering the stock.
Stifel analyst Ruben Roy reinstated a Buy rating on July 2 with a $245 price target. Roy's track record is particularly impressive at 88% accuracy.
Raymond James analyst Melissa Fairbanks maintained a Strong Buy rating on June 18 and lifted the price target from $170 to $230. Fairbanks has been right about Jabil 75% of the time.
The consensus among these top-performing analysts? There's still upside in JBL shares, even after the recent pullback. All eyes will be on Wednesday's earnings report to see if that optimism is justified.
