Brokers Issue Forecasts for Jacobs Solutions Inc.’s FY2024 Earnings (NYSE:J)

Jacobs Solutions Inc. (NYSE:J) – Research analysts at William Blair decreased their FY2024 earnings per share (EPS) estimates for Jacobs Solutions in a research report issued on Tuesday, August 6th. William Blair analyst L. Dipalma now anticipates that the company will earn $8.03 per share for the year, down from their prior forecast of $8.05. William Blair has a “Market Perform” rating on the stock. The consensus estimate for Jacobs Solutions’ current full-year earnings is $7.98 per share. William Blair also issued estimates for Jacobs Solutions’ FY2025 earnings at $8.98 EPS.

Other research analysts also recently issued reports about the company. Truist Financial reaffirmed a “hold” rating and set a $158.00 target price (up from $153.00) on shares of Jacobs Solutions in a report on Wednesday. StockNews.com raised Jacobs Solutions from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Robert W. Baird cut their target price on Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating on the stock in a report on Wednesday. Citigroup lifted their target price on Jacobs Solutions from $161.00 to $169.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Finally, Royal Bank of Canada boosted their price objective on Jacobs Solutions from $161.00 to $167.00 and gave the company an “outperform” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Jacobs Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $158.20.

Jacobs Solutions Price Performance

Shares of NYSE J traded up $1.24 during mid-day trading on Thursday, hitting $143.50. 1,008,832 shares of the stock traded hands, compared to its average volume of 672,086. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.17 and a quick ratio of 1.17. Jacobs Solutions has a twelve month low of $120.71 and a twelve month high of $154.50. The company has a market cap of $17.97 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 1.67 and a beta of 0.70. The firm has a 50 day simple moving average of $141.80 and a two-hundred day simple moving average of $143.28.

Jacobs Solutions (NYSE:J) last issued its earnings results on Tuesday, August 6th. The company reported $1.96 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.96. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.39 billion. Jacobs Solutions had a return on equity of 14.59% and a net margin of 3.83%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.82 EPS.

Jacobs Solutions Dividend Announcement

The firm 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 $0.29 dividend. The ex-dividend date is Friday, July 26th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.81%. Jacobs Solutions’s dividend payout ratio (DPR) is presently 22.39%.

Insider Buying and Selling

In related news, insider Steven J. Demetriou sold 7,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.94, for a total value of $979,580.00. Following the transaction, the insider now owns 534,138 shares of the company’s stock, valued at $74,747,271.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 21,000 shares of company stock worth $2,983,750. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. EdgeRock Capital LLC purchased a new stake in Jacobs Solutions in the second quarter worth about $26,000. GAMMA Investing LLC purchased a new stake in Jacobs Solutions in the fourth quarter worth about $27,000. Bruce G. Allen Investments LLC lifted its holdings in Jacobs Solutions by 427.5% in the second quarter. Bruce G. Allen Investments LLC now owns 211 shares of the company’s stock worth $29,000 after buying an additional 171 shares during the period. ICA Group Wealth Management LLC purchased a new stake in Jacobs Solutions in the fourth quarter worth about $30,000. Finally, Union Savings Bank lifted its holdings in Jacobs Solutions by 78.1% in the fourth quarter. Union Savings Bank now owns 285 shares of the company’s stock worth $37,000 after buying an additional 125 shares during the period. 85.65% of the stock is owned by institutional investors.

About Jacobs Solutions

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.