Jacobs Solutions (NYSE:J) Releases FY24 Earnings Guidance

Jacobs Solutions (NYSE:J) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $7.80-8.10 for the period, compared to the consensus earnings per share estimate of $8.02.

Jacobs Solutions Stock Performance

NYSE J traded up $1.33 during trading on Thursday, reaching $139.84. The company’s stock had a trading volume of 672,847 shares, compared to its average volume of 653,690. The firm has a 50 day moving average price of $147.34 and a 200 day moving average price of $138.31. Jacobs Solutions has a 12 month low of $109.00 and a 12 month high of $154.50. 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 $17.57 billion, a price-to-earnings ratio of 24.73, a price-to-earnings-growth ratio of 1.57 and a beta of 0.74.

Jacobs Solutions (NYSE:J) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.07. Jacobs Solutions had a net margin of 4.20% and a return on equity of 14.57%. The firm had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same period in the prior year, the company posted $1.81 EPS. The company’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts anticipate that Jacobs Solutions will post 8.07 EPS for the current fiscal year.

Jacobs Solutions Dividend Announcement

The firm also recently disclosed 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 0.83%. The ex-dividend date is Thursday, May 23rd. Jacobs Solutions’s dividend payout ratio (DPR) is 20.71%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on J shares. William Blair downgraded Jacobs Solutions from an outperform rating to a market perform rating in a research note on Wednesday. Robert W. Baird reduced their price target on shares of Jacobs Solutions from $168.00 to $163.00 and set an outperform rating for the company in a research report on Wednesday. Argus increased their price objective on Jacobs Solutions from $161.00 to $174.00 and gave the stock a buy rating in a research report on Thursday, March 14th. KeyCorp started coverage on Jacobs Solutions in a research note on Wednesday, January 10th. They issued a sector weight rating on the stock. Finally, Royal Bank of Canada boosted their price objective on Jacobs Solutions from $151.00 to $161.00 and gave the stock an outperform rating in a report on Wednesday, February 7th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $156.25.

Insider Buying and Selling

In other news, insider Steven J. Demetriou sold 7,000 shares of Jacobs Solutions stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $143.86, for a total value of $1,007,020.00. Following the sale, the insider now directly owns 548,138 shares in the company, valued at approximately $78,855,132.68. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Steven J. Demetriou sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $143.86, for a total value of $1,007,020.00. Following the completion of the transaction, the insider now owns 548,138 shares in the company, valued at approximately $78,855,132.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Shelette M. Gustafson sold 1,852 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $148.00, for a total value of $274,096.00. Following the completion of the transaction, the executive vice president now owns 28,791 shares of the company’s stock, valued at approximately $4,261,068. The disclosure for this sale can be found here. Insiders have sold a total of 24,338 shares of company stock worth $3,618,695 in the last ninety days. 1.00% of the stock is owned by insiders.

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.