Earnings: Jabil Inc [NYSE: JBL] continues its month-long uptrend. In yesterday’s trading session, this stock gapped up and closed the day with gains of 4.85%. JBL jumped after the company’s Q4 results beat analyst expectations. The company announced a quarterly EPS of $0.88, against analyst expectations of $0.86. This is the fourth consecutive quarter that JBL’s quarterly results have beat analyst expectations.
The company’s revenues for the quarter stood at $6.57 billion, much higher than the $5.77 billion that it reported in a similar quarter last year. The CEO, Mr. Mark Mondello, stated that their revenues were driven by targeted end-markets. He cited areas such as healthcare, 5G, energy and cloud computing as key value drivers.
JBL is now trading at its high range for 2019. The questions is, “will it be able to sustain this range”? With its recent strong earnings it might. Yesterday it made a new high on 4.94 million in volume. It traded in a range of $32.44 to $33.79 and closed at $32.85. The market cap is about $4.946 billion.
Factors that could affect the market in the day include news the consumer confidence in the U.S had declined in September. It is also a day when talk of impeachment is in the air. If these news don’t dampen the markets, a breakout stock like JBL could record gains.
About Jabil Inc
Jabil is a global provider of electronic manufacturing services. It operates in two segments namely: Electronics Manufacturing Services and Diversified Manufacturing Services. Some of the services it offers include electronics design and production, and the design of application-specific integrated circuit design services. The company has its headquarters in Saint Petersburg, Florida.