Jacobs Solutions (NYSE:J) Releases Earnings Results, Meets Estimates

Jacobs Solutions (NYSE:J) announced its quarterly earnings results on Tuesday. The company reported $1.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.96, Briefing.com reports. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.39 billion. Jacobs Solutions had a net margin of 3.83% and a return on equity of 14.59%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.82 EPS. Jacobs Solutions updated its FY24 guidance to $7.85-$8.05 EPS and its FY 2024 guidance to 7.850-8.050 EPS.

Jacobs Solutions Price Performance

Shares of Jacobs Solutions stock traded up $1.24 on Friday, reaching $143.50. 1,008,832 shares of the stock were exchanged, compared to its average volume of 672,086. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market cap of $17.97 billion, a PE ratio of 27.76, a P/E/G ratio of 1.67 and a beta of 0.70. The firm’s 50 day moving average is $141.71 and its 200-day moving average is $143.21. Jacobs Solutions has a one year low of $120.71 and a one year high of $154.50.

Jacobs Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, July 26th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.16 annualized dividend and a yield of 0.81%. Jacobs Solutions’s dividend payout ratio is 22.39%.

Insider Buying and Selling at Jacobs Solutions

In other news, insider Steven J. Demetriou sold 7,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.94, for a total transaction of $979,580.00. Following the completion of the transaction, the insider now owns 534,138 shares of the company’s stock, valued at approximately $74,747,271.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 21,000 shares of company stock worth $2,983,750 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on J shares. StockNews.com raised Jacobs Solutions from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Truist Financial reissued a “hold” rating and set a $158.00 price target (up from $153.00) on shares of Jacobs Solutions in a research note on Wednesday. Royal Bank of Canada raised their price objective on shares of Jacobs Solutions from $161.00 to $167.00 and gave the company an “outperform” rating in a research note on Wednesday. William Blair downgraded Jacobs Solutions from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 8th. Finally, Citigroup raised their price target on Jacobs Solutions from $161.00 to $169.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $157.55.

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.