NEW YORK (TheStreet) -- Jabil Circuit (JBL) shares are up 6.6% to $21.40 in after-hours trading on Wednesday following the release of the company's first quarter earnings results after the closing bell today.
The electronics accessories manufacturer reported a net income of $72.2 million, or 55 cents per diluted share, ahead of analysts 47 cent per expectations by 8 cents.
The company also saw a 5% rise in revenue generated this quarter over the same period last year to $4.55 billion, also topping analysts' forecast of $4.33 billion in revenue.
Jabil provided current quarter earnings guidance between 39 cents and 50 cents on revenue between $4.15 billion and $4.35 billion. Analysts are forecasting earnings of 31 cents on revenue of $4.1 billion for the period.
TheStreet Ratings team rates JABIL CIRCUIT INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate JABIL CIRCUIT INC (JBL) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strongest point has been its a solid financial position based on a variety of debt and liquidity measures that we have looked at. At the same time, however, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: JBL Ratings Report
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