Jacobs Solutions (NYSE:J) Releases FY 2024 Earnings Guidance

Jacobs Solutions (NYSE:J) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 7.850-8.050 for the period, compared to the consensus estimate of 8.03. The company issued revenue guidance of -. Jacobs Solutions also updated its FY24 guidance to $7.85-$8.05 EPS.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on J shares. Truist Financial reiterated a hold rating and set a $158.00 price target (up previously from $153.00) on shares of Jacobs Solutions in a report on Wednesday. Robert W. Baird dropped their price objective on Jacobs Solutions from $163.00 to $160.00 and set an outperform rating on the stock in a report on Wednesday. William Blair cut Jacobs Solutions from an outperform rating to a market perform rating in a report on Wednesday, May 8th. Citigroup increased their price objective on Jacobs Solutions from $161.00 to $169.00 and gave the company a buy rating in a research report on Monday, April 22nd. Finally, Royal Bank of Canada raised their price target on Jacobs Solutions from $161.00 to $167.00 and gave the stock an outperform rating in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $157.55.

Jacobs Solutions Price Performance

Jacobs Solutions stock traded up $1.24 during midday trading on Friday, reaching $143.50. 1,008,832 shares of the stock traded hands, compared to its average volume of 672,086. The stock’s fifty day moving average is $141.71 and its 200-day moving average is $143.21. Jacobs Solutions has a 12 month low of $120.71 and a 12 month high of $154.50. The stock has a market cap of $17.97 billion, a P/E ratio of 27.76, a PEG ratio of 1.67 and a beta of 0.70. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.32.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.96. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.39 billion. Jacobs Solutions had a return on equity of 14.59% and a net margin of 3.83%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the company earned $1.82 EPS. As a group, equities research analysts anticipate that Jacobs Solutions will post 7.98 EPS for the current year.

Jacobs Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, July 26th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, July 26th. Jacobs Solutions’s dividend payout ratio is currently 22.39%.

Insider Buying and Selling

In related news, insider Steven J. Demetriou sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $139.94, for a total transaction of $979,580.00. Following the completion of the sale, the insider now directly owns 534,138 shares of the company’s stock, valued at approximately $74,747,271.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 21,000 shares of company stock valued at $2,983,750. Insiders own 1.00% of the company’s stock.

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.