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Play Jabil Circuit Earnings With Apple Stock

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Play Jabil Circuit Earnings With Apple Stock
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Jabil Circuit, Inc. (NYSE: JBL)'s $23.00 price target and Neutral rating were maintained at UBS on Tuesday. UBS has a Neutral rating on the shares, citing that the stock got overbought in its view.

UBS previously issued a Buy rating on the shares. The US based global manufacturing services company is is the third largest contract manufacturer in the world.

Jabil has had its earnings estimates rise for both fiscal year 2016 and fiscal year 2017.

Apple Read Through?

Steve Milunovich of UBS commented on Jabil ahead of its first quarter results, set to be reported this Wednesday after market close.

Related Link: Apple iPhone Levels Signal Component Correction Coming, Pacific Crest Warns

Milunovich noted that guidance for February's dealer management system seasonality could be an important read-through for Apple Inc. (NADSAQ:AAPL)'s business.

The company develops exterior hardware casings for the Cupertino-based tech giant -- and Apple may be an alternative way to play Jabil's results.

Jabil Earnings History

Jabil's average earnings per share estimate has surged 31 percent, from 61 cents a share to 80 cents for the quarter that ended in November. Shares are priced at 9 times fiscal 2016 estimates of $2.57 a share.

For fiscal 2017, the company's average estimate currently stands at $2.80 a share, up from $2.58 at the start of the quarter.

Latest Ratings for AAPL

DateFirmActionFromTo
Apr 2017Morgan StanleyMaintainsOverweightOverweight
Apr 2017Credit SuisseMaintainsOutperformOutperform
Apr 2017Pacific CrestMaintainsOverweight

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