Jacobs Solutions (NYSE:J) Updates FY 2024 Earnings Guidance

Jacobs Solutions (NYSE:JGet Free Report) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 7.700-8.200 for the period, compared to the consensus estimate of 7.950. The company issued revenue guidance of -. Jacobs Solutions also updated its FY 2024 guidance to 7.700-8.200 EPS.

Jacobs Solutions Stock Down 1.0 %

Shares of NYSE J opened at $149.71 on Wednesday. Jacobs Solutions has a 1 year low of $109.00 and a 1 year high of $154.50. The firm’s 50-day moving average is $145.79 and its 200-day moving average is $136.56. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.42. The firm has a market capitalization 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.

Jacobs Solutions (NYSE:JGet Free Report) last released its earnings results on Tuesday, February 6th. The company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.46. Jacobs Solutions had a net margin of 4.20% and a return on equity of 14.57%. The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the previous year, the business earned $1.67 EPS. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities analysts expect that Jacobs Solutions will post 8.06 EPS for the current year.

Jacobs Solutions Increases Dividend

The company also recently declared 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%. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.26. The ex-dividend date was Thursday, February 22nd. Jacobs Solutions’s dividend payout ratio (DPR) is currently 20.71%.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Analysis on J

Insider Transactions 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 transaction, the executive vice president now directly owns 28,791 shares of the company’s stock, valued at approximately $4,261,068. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Jacobs Solutions news, EVP Shelette M. Gustafson sold 1,852 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were 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 approximately $4,261,068. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Patrick Hill sold 5,486 shares of the firm’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 transaction, the executive vice president now owns 57,233 shares of the company’s stock, valued at approximately $8,527,717. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Jacobs Solutions

Several large investors have recently added to or reduced their stakes in J. Clear Street Markets LLC increased its stake in shares of Jacobs Solutions by 93.8% in the 1st quarter. Clear Street Markets LLC now owns 250 shares of the company’s stock valued at $29,000 after acquiring an additional 121 shares in the last quarter. Money Concepts Capital Corp acquired a new stake in Jacobs Solutions in the fourth quarter worth $46,000. Quarry LP grew its holdings in Jacobs Solutions by 78.9% in the first quarter. Quarry LP now owns 442 shares of the company’s stock worth $52,000 after purchasing an additional 195 shares during the period. ICA Group Wealth Management LLC bought a new stake in Jacobs Solutions in the fourth quarter valued at $63,000. Finally, Milestone Investment Advisors LLC acquired a new position in shares of Jacobs Solutions during the first quarter valued at about $75,000. Institutional investors and hedge funds own 85.65% of the company’s stock.

Jacobs Solutions Company Profile

(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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