Jacobs Engineering Group Inc (JEC) Posts Earnings Results, Beats Estimates By $0.07 EPS

Jacobs Engineering Group Inc (NYSE:JEC) released its quarterly earnings results on Tuesday. The construction company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.07. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.63 billion. Jacobs Engineering Group had a net margin of 2.10% and a return on equity of 8.33%. The business’s revenue was down 17.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 EPS. Jacobs Engineering Group updated its FY17 guidance to $3.00-3.30 EPS.

Jacobs Engineering Group (NYSE:JEC) traded up 3.13% during mid-day trading on Friday, hitting $53.01. 1,382,478 shares of the company traded hands. Jacobs Engineering Group has a one year low of $47.14 and a one year high of $63.42. The firm has a market capitalization of $6.38 billion, a P/E ratio of 30.82 and a beta of 1.66. The firm has a 50 day moving average of $54.15 and a 200 day moving average of $56.68.

Earnings History for Jacobs Engineering Group (NYSE:JEC)

The company also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, May 19th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, May 17th. This represents a $0.60 annualized dividend and a dividend yield of 1.17%.

Several hedge funds have recently made changes to their positions in JEC. Morgan Stanley increased its stake in shares of Jacobs Engineering Group by 124.9% in the third quarter. Morgan Stanley now owns 659,195 shares of the construction company’s stock worth $34,093,000 after buying an additional 366,139 shares during the last quarter. Pacer Advisors Inc. increased its position in Jacobs Engineering Group by 15.9% in the third quarter. Pacer Advisors Inc. now owns 13,493 shares of the construction company’s stock worth $698,000 after buying an additional 1,849 shares during the last quarter. Principal Financial Group Inc. increased its position in Jacobs Engineering Group by 73.3% in the third quarter. Principal Financial Group Inc. now owns 329,165 shares of the construction company’s stock worth $17,024,000 after buying an additional 139,190 shares during the last quarter. Front Barnett Associates LLC increased its position in Jacobs Engineering Group by 0.3% in the third quarter. Front Barnett Associates LLC now owns 259,308 shares of the construction company’s stock worth $13,411,000 after buying an additional 686 shares during the last quarter. Finally, Northern Trust Corp increased its position in Jacobs Engineering Group by 0.4% in the third quarter. Northern Trust Corp now owns 1,440,317 shares of the construction company’s stock worth $74,493,000 after buying an additional 5,740 shares during the last quarter. 85.02% of the stock is currently owned by hedge funds and other institutional investors.

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Several research firms have weighed in on JEC. Robert W. Baird reissued a “neutral” rating and issued a $64.00 price target (up from $62.00) on shares of Jacobs Engineering Group in a report on Friday, May 12th. Credit Suisse Group AG reissued a “buy” rating and issued a $69.00 price target on shares of Jacobs Engineering Group in a report on Friday, April 21st. Zacks Investment Research raised shares of Jacobs Engineering Group from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Tuesday, April 11th. DA Davidson reaffirmed a “neutral” rating on shares of Jacobs Engineering Group in a report on Thursday, February 9th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $61.00 target price (down from $64.00) on shares of Jacobs Engineering Group in a report on Thursday, February 9th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $61.11.

Jacobs Engineering Group Company Profile

Jacobs Engineering Group Inc is a technical professional services company. The Company provides a range of technical, professional and construction services to industrial, commercial and governmental clients. The Company’s services include Project Services; Process, Scientific, and Systems Consulting Services; Construction Services, and Operations and Maintenance Services.

12 Month Chart for NYSE:JEC

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