Jacobs Engineering Group (JEC) Shares Gap Down on Analyst Downgrade

Jacobs Engineering Group Inc (NYSE:JEC) shares gapped down before the market opened on Wednesday after Zacks Investment Research downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $58.98, but opened at $65.05. Jacobs Engineering Group shares last traded at $66.04, with a volume of 92268 shares.

Several other brokerages have also weighed in on JEC. ValuEngine raised shares of Jacobs Engineering Group from a “hold” rating to a “buy” rating in a report on Wednesday, September 19th. Citigroup raised shares of Jacobs Engineering Group from a “neutral” rating to a “buy” rating and set a $95.00 price target for the company in a report on Monday, October 22nd. Robert W. Baird lifted their price target on shares of Jacobs Engineering Group from $82.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, October 23rd. Barclays reaffirmed a “buy” rating and issued a $83.00 price target on shares of Jacobs Engineering Group in a report on Thursday, October 18th. Finally, Seaport Global Securities began coverage on shares of Jacobs Engineering Group in a report on Thursday, November 15th. They issued a “buy” rating and a $91.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $83.14.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Integrated Investment Consultants LLC bought a new stake in Jacobs Engineering Group in the 2nd quarter valued at about $102,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in Jacobs Engineering Group by 103.3% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,417 shares of the construction company’s stock valued at $108,000 after purchasing an additional 720 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Jacobs Engineering Group by 88.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,137 shares of the construction company’s stock valued at $136,000 after purchasing an additional 1,004 shares during the last quarter. SRS Capital Advisors Inc. bought a new stake in Jacobs Engineering Group in the 3rd quarter valued at about $148,000. Finally, Atlas Capital Advisors LLC bought a new stake in Jacobs Engineering Group in the 3rd quarter valued at about $163,000. 86.64% of the stock is owned by institutional investors and hedge funds.

The stock has a market cap of $9.23 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 0.96 and a beta of 1.41. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.36.

Jacobs Engineering Group (NYSE:JEC) last issued its quarterly earnings data on Tuesday, November 20th. The construction company reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.07. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $4.27 billion. Jacobs Engineering Group had a net margin of 1.19% and a return on equity of 10.39%. Jacobs Engineering Group’s quarterly revenue was up 56.1% compared to the same quarter last year. During the same period last year, the firm posted $0.98 EPS. As a group, sell-side analysts expect that Jacobs Engineering Group Inc will post 5.3 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Investors of record on Friday, September 28th were given a $0.15 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.60 annualized dividend and a yield of 0.92%. Jacobs Engineering Group’s dividend payout ratio is presently 13.42%.

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Jacobs Engineering Group Company Profile (NYSE:JEC)

Jacobs Engineering Group Inc provides technical, professional, and construction services. It offers project services that include engineering, architectural, interiors, design, planning, and related services, as well as planning, scheduling, procurement, estimating, cost engineering, project accounting and delivery, safety, and other support services.

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