Jacobs Solutions (NYSE:J) Issues Earnings Results

Jacobs Solutions (NYSE:J) issued its quarterly earnings results on Tuesday. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.07, Briefing.com reports. Jacobs Solutions had a return on equity of 14.57% and a net margin of 4.20%. The company had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter last year, the business earned $1.81 earnings per share. Jacobs Solutions’s revenue was up 4.7% on a year-over-year basis. Jacobs Solutions updated its FY24 guidance to $7.80-8.10 EPS.

Jacobs Solutions Price Performance

Jacobs Solutions stock traded down $2.96 during mid-day trading on Wednesday, hitting $138.68. 698,210 shares of the company traded hands, compared to its average volume of 646,131. The stock has a market cap of $17.43 billion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth ratio of 1.57 and a beta of 0.74. Jacobs Solutions has a one year low of $109.00 and a one year high of $154.50. The stock has a fifty day moving average price of $147.34 and a 200-day moving average price of $138.31. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.37 and a current ratio of 1.37.

Jacobs Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 24th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Thursday, May 23rd. Jacobs Solutions’s payout ratio is 20.71%.

Insider Transactions at Jacobs Solutions

In other news, insider Steven J. Demetriou sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $143.86, for a total value of $1,007,020.00. Following the completion of the sale, the insider now directly owns 548,138 shares of the company’s stock, valued at approximately $78,855,132.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Kevin C. Berryman sold 1,500 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $153.20, for a total transaction of $229,800.00. Following the sale, the chief financial officer now owns 233,104 shares in the company, valued at approximately $35,711,532.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Steven J. Demetriou sold 7,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $143.86, for a total transaction of $1,007,020.00. Following the completion of the transaction, the insider now owns 548,138 shares of the company’s stock, valued at $78,855,132.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,338 shares of company stock worth $3,618,695. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on J. KeyCorp began coverage on shares of Jacobs Solutions in a research report on Wednesday, January 10th. They set a “sector weight” rating for the company. Citigroup lifted their price target on Jacobs Solutions from $161.00 to $169.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Argus raised their price objective on shares of Jacobs Solutions from $161.00 to $174.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Bank of America boosted their target price on shares of Jacobs Solutions from $145.00 to $152.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Finally, Truist Financial cut their price target on shares of Jacobs Solutions from $154.00 to $153.00 and set a “hold” rating on the stock in a report on Wednesday. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Jacobs Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $156.25.

Jacobs Solutions Company Profile

Jacobs Solutions Inc provides consulting, technical, engineering, scientific, and project delivery services for the government and private sectors in the United States, Europe, Canada, India, Asia, Australia, New Zealand, the Middle East, and Africa. It operates through Critical Mission Solutions, People & Places Solutions, Divergent Solutions, and PA Consulting segments.