Jabil Inc. faces slowing demand and downbeat earnings guidance, with stock trading below moving averages.

From NASDAQ: 2024-09-19 04:00:00

Jabil Inc. (JBL) faces slowing demand across multiple end markets, leading to a 30% drop in shares since Q2 FY24 earnings release. Recent EPS estimates fall below consensus for next year.

Jabil provides manufacturing services to various industries including telecom, healthcare, and automotive. Apple makes up 17% of Jabil’s revenue. Despite steady growth, FY23 saw a slowdown at 4%.

Jabil offers downbeat earnings guidance for FY24, divesting its Mobility business and experiencing softness across multiple end markets. Current EPS estimate for FY25 is 3% below consensus. Stock trading below moving averages with a Zacks Rank #5.

Stay cautious on Jabil stock ahead of Q4 FY24 financial results. Investors can access 7 elite stocks with early price potential from Zacks Rank #1 Strong Buys list, outperforming the market with a 23.7% average gain yearly since 1988. Watch out for updated guidance after results on September 26.



Read more at NASDAQ: Bear of the Day: Jabil Inc. (JBL)