Jacobs Solutions (NYSE:J) Announces Earnings Results, Beats Expectations By $0.07 EPS

Jacobs Solutions (NYSE:J) issued its earnings results on Tuesday. The company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.07, Briefing.com reports. Jacobs Solutions had a return on equity of 14.57% and a net margin of 4.20%. The business had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter in the prior year, the firm earned $1.81 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Jacobs Solutions updated its FY24 guidance to $7.80-8.10 EPS.

Jacobs Solutions Stock Performance

J traded down $3.30 during trading on Wednesday, hitting $138.34. 612,594 shares of the company traded hands, compared to its average volume of 645,964. Jacobs Solutions has a one year low of $109.00 and a one year high of $154.50. The stock’s fifty day moving average is $147.34 and its 200 day moving average is $138.31. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.42. The firm has a market cap of $17.38 billion, a P/E ratio of 24.76, a price-to-earnings-growth ratio of 1.57 and a beta of 0.74.

Jacobs Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, May 24th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Thursday, May 23rd. Jacobs Solutions’s dividend payout ratio is presently 20.71%.

Insider Activity

In other Jacobs Solutions news, CFO Kevin C. Berryman sold 1,500 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $153.20, for a total value of $229,800.00. Following the completion of the sale, the chief financial officer now directly owns 233,104 shares of the company’s stock, valued at $35,711,532.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Kevin C. Berryman sold 1,500 shares of Jacobs Solutions stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $153.20, for a total value of $229,800.00. Following the completion of the transaction, the chief financial officer now owns 233,104 shares in the company, valued at $35,711,532.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven J. Demetriou sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $153.20, for a total transaction of $1,072,400.00. Following the sale, the insider now owns 555,138 shares in the company, valued at $85,047,141.60. The disclosure for this sale can be found here. Insiders sold 24,338 shares of company stock valued at $3,618,695 in the last three months. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on J. Truist Financial lowered their target price on Jacobs Solutions from $154.00 to $153.00 and set a “hold” rating for the company in a research report on Wednesday. Citigroup lifted their price objective on Jacobs Solutions from $161.00 to $169.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. KeyCorp began coverage on shares of Jacobs Solutions in a research report on Wednesday, January 10th. They set a “sector weight” rating for the company. William Blair downgraded shares of Jacobs Solutions from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Finally, Bank of America increased their price objective on shares of Jacobs Solutions from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Jacobs Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $156.25.

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.