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

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

Jacobs Solutions Trading Down 2.1 %

Shares of J stock traded down $2.96 on Wednesday, hitting $138.68. 698,210 shares of the stock traded hands, compared to its average volume of 646,131. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.37 and a current ratio of 1.37. Jacobs Solutions has a twelve month low of $109.00 and a twelve month high of $154.50. The firm’s 50-day moving average price is $147.34 and its two-hundred day moving average price is $138.31. The stock has a market capitalization of $17.43 billion, a PE ratio of 24.76, a PEG ratio of 1.57 and a beta of 0.74.

Jacobs Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 24th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Thursday, May 23rd. Jacobs Solutions’s dividend payout ratio (DPR) is presently 20.71%.

Insider Buying and Selling

In other news, insider Steven J. Demetriou sold 7,000 shares of the firm’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 completion of the sale, the insider now owns 555,138 shares in the company, valued at approximately $85,047,141.60. The sale was disclosed in a legal filing 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 Jacobs Solutions stock in a transaction dated 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 directly owns 28,791 shares in the company, valued at $4,261,068. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven J. Demetriou sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $153.20, for a total transaction of $1,072,400.00. Following the completion of the transaction, 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. Over the last ninety days, insiders sold 24,338 shares of company stock worth $3,618,695. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on J shares. Royal Bank of Canada increased their price objective on shares of Jacobs Solutions from $151.00 to $161.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Truist Financial lowered their target price on shares of Jacobs Solutions from $154.00 to $153.00 and set a “hold” rating for the company in a research note on Wednesday. Citigroup boosted their price target on Jacobs Solutions from $161.00 to $169.00 and gave the company a “buy” rating in a report on Monday, April 22nd. KeyCorp started coverage on Jacobs Solutions in a research report on Wednesday, January 10th. They set a “sector weight” rating for the company. Finally, Argus increased their price target on Jacobs Solutions from $161.00 to $174.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Jacobs Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $156.25.

About Jacobs Solutions

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.