Jacobs Solutions (NYSE:J) Updates FY24 Earnings Guidance

Jacobs Solutions (NYSE:J) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $7.80-8.10 for the period, compared to the consensus earnings per share estimate of $8.02.

Jacobs Solutions Stock Performance

Shares of J traded up $0.32 during mid-day trading on Friday, reaching $140.11. The company’s stock had a trading volume of 33,436 shares, compared to its average volume of 651,445. The business has a 50-day simple moving average of $147.17 and a two-hundred day simple moving average of $138.31. The stock has a market cap of $17.60 billion, a P/E ratio of 26.99, a PEG ratio of 1.57 and a beta of 0.74. Jacobs Solutions has a 1-year low of $109.00 and a 1-year high of $154.50. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.42.

Jacobs Solutions (NYSE:J) last released its quarterly earnings data on Tuesday, May 7th. The company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.07. 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 the consensus estimate of $4.33 billion. During the same quarter last year, the business posted $1.81 EPS. Jacobs Solutions’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities research analysts anticipate that Jacobs Solutions will post 8.07 earnings per share for the current fiscal year.

Jacobs Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, May 24th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.16 annualized dividend and a dividend yield of 0.83%. Jacobs Solutions’s dividend payout ratio is 22.39%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on J shares. Bank of America boosted their price objective on Jacobs Solutions from $145.00 to $152.00 and gave the stock a neutral rating in a research report on Tuesday, April 2nd. Truist Financial reduced their target price on Jacobs Solutions from $154.00 to $153.00 and set a hold rating for the company in a research report on Wednesday. Argus lifted their price target on Jacobs Solutions from $161.00 to $174.00 and gave the stock a buy rating in a research note on Thursday, March 14th. William Blair cut shares of Jacobs Solutions from an outperform rating to a market perform rating in a research note on Wednesday. Finally, Citigroup boosted their price objective on Jacobs Solutions from $161.00 to $169.00 and gave the company a buy rating in a research report on Monday, April 22nd. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Jacobs Solutions has a consensus rating of Moderate Buy and a consensus price target of $156.25.

Insiders Place Their Bets

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

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.