Some Brokerage Reactions to Earnings
Jabil Circuit (JBL / NYSE)
Deutsche Banc Alex Brown
Raising EPS estimates to $0.43 for fiscal 2002 and $0.70 for next year, because of the company's new cost restructuring plan. JBL also beat our quarterly cash earnings estimate by $0.02. Maintain Market Peform rating, based on valuation.
Jabil Circuit (JBL / NYSE)
Bank of America Montgomery
Raising fiscal 2003 estimate to $0.76 per share, based on the company's lower expected tax rate. Maintain Buy rating and $30 price target.
Jabil Circuit (JBL / NYSE)
NEWS
JBL reported second quarter earnings of 8 cents per share, versus the Street forecast of 7 cents. Last year, the company earned 21 cents. Revenue for the quarter was $822 million, compared to $1.2 billion for the same period of fiscal 2001. Looking into the third quarter, the company sees revenues in a range of $825 to $855 million, and corresponding cash earnings of between 11-13 cents. For full year 2002, the company anticipates full fiscal year revenue to be on the lower end of its guidance of $3.5 to $4.0 billion range, with cash earnings of 45-50 cents per share, versus the estimate of 45 cents.
Jabil Circuit (JBL / NYSE)
Dain Rauscher
Cutting 2002 EPS estimate to $0.45 from $0.48 over concerns stemming from OEM pre-releases and lower guidance for June quarter.
Jabil Circuit (JBL / NYSE)
Prudential Securities
Raising our EPS estimates, but keeping them below the company's guidance. Also reducing our price target to $21 per share, as we believe JBL is too optimistic about its earnings leverage. Maintain Hold rating.
Jabil Circuit (JBL / NYSE)
Weisel Partners
We are reducing our 2002 and 2003 estimates to reflect current conditions. We are maintaining our Strong Buy rating and increasing our 6-12 month price target to $30 (from $29), which is 30x our 2003 cash EPS estimate of $1.00. |
