Jacobs Solutions (NYSE:J) Issues FY24 Earnings Guidance

Jacobs Solutions (NYSE:JGet Free Report) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $7.70-$8.20 for the period, compared to the consensus EPS estimate of $8.09. Jacobs Solutions also updated its FY 2024 guidance to 7.700-8.200 EPS.

Analysts Set New Price Targets

J has been the topic of a number of research analyst reports. KeyCorp initiated coverage on Jacobs Solutions in a report on Wednesday, January 10th. They set a sector weight rating on the stock. Argus raised their price target on shares of Jacobs Solutions from $161.00 to $174.00 and gave the stock a buy rating in a report on Thursday, March 14th. Truist Financial started coverage on Jacobs Solutions in a research note on Thursday, March 14th. They issued a hold rating and a $154.00 target price for the company. Royal Bank of Canada upped their price target on Jacobs Solutions from $151.00 to $161.00 and gave the stock an outperform rating in a research note on Wednesday, February 7th. Finally, Bank of America raised their price objective on Jacobs Solutions from $145.00 to $152.00 and gave the company a neutral rating in a research note on Tuesday. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $154.08.

Get Our Latest Report on Jacobs Solutions

Jacobs Solutions Stock Down 1.0 %

J opened at $149.71 on Wednesday. The company has a market cap of $18.81 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 1.60 and a beta of 0.73. The company has a 50 day moving average of $145.79 and a 200 day moving average of $136.56. Jacobs Solutions has a 12 month low of $109.00 and a 12 month 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:JGet Free Report) last released its quarterly earnings data on Tuesday, February 6th. The company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.46. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.02 billion. Jacobs Solutions had a return on equity of 14.57% and a net margin of 4.20%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.67 EPS. On average, sell-side analysts expect that Jacobs Solutions will post 8.06 EPS for the current year.

Jacobs Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, February 23rd were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Thursday, February 22nd. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.26. Jacobs Solutions’s dividend payout ratio (DPR) is 20.71%.

Insider Buying and Selling at Jacobs Solutions

In other Jacobs Solutions news, EVP Shelette M. Gustafson sold 1,852 shares of Jacobs Solutions stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $148.00, for a total transaction of $274,096.00. Following the completion of the sale, the executive vice president now owns 28,791 shares of the company’s stock, valued at $4,261,068. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Patrick Hill sold 5,486 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $149.00, for a total transaction of $817,414.00. Following the completion of the transaction, the executive vice president now owns 57,233 shares in the company, valued at $8,527,717. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Shelette M. Gustafson sold 1,852 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $148.00, for a total transaction of $274,096.00. Following the completion of the sale, the executive vice president now owns 28,791 shares of the company’s stock, valued at $4,261,068. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Jacobs Solutions in the first quarter worth about $125,000. Panagora Asset Management Inc. raised its position in shares of Jacobs Solutions by 22.6% during the 1st quarter. Panagora Asset Management Inc. now owns 3,472 shares of the company’s stock valued at $478,000 after buying an additional 641 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Jacobs Solutions by 5.7% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,290 shares of the company’s stock valued at $2,383,000 after acquiring an additional 933 shares during the last quarter. Cibc World Market Inc. increased its stake in Jacobs Solutions by 4.8% during the first quarter. Cibc World Market Inc. now owns 14,801 shares of the company’s stock worth $2,040,000 after acquiring an additional 680 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in Jacobs Solutions by 5.6% during the 1st quarter. Vontobel Holding Ltd. now owns 8,445 shares of the company’s stock valued at $1,179,000 after buying an additional 448 shares during the period. Hedge funds and other institutional investors own 85.65% of the company’s stock.

About Jacobs Solutions

(Get Free Report)

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.

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Earnings History and Estimates for Jacobs Solutions (NYSE:J)

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