Jacobs Solutions (NYSE:J) Releases Earnings Results, Beats Estimates By $0.07 EPS

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

Jacobs Solutions Trading Up 0.7 %

Shares of J opened at $140.73 on Friday. The company has a market cap of $17.68 billion, a P/E ratio of 26.99, a P/E/G ratio of 1.57 and a beta of 0.74. Jacobs Solutions has a twelve month low of $109.00 and a twelve month high of $154.50. The company’s fifty day simple moving average is $147.17 and its 200-day simple moving average is $138.31. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.42.

Jacobs Solutions Announces Dividend

The business 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 0.82%. The ex-dividend date is Thursday, May 23rd. Jacobs Solutions’s dividend payout ratio is currently 22.39%.

Insiders Place Their Bets

In other news, CFO Kevin C. Berryman sold 1,500 shares of the company’s 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 transaction, the chief financial officer now directly owns 233,104 shares in the company, valued at $35,711,532.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Shelette M. Gustafson sold 1,852 shares of the business’s stock in a transaction on Friday, February 16th. The stock was 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 directly owns 28,791 shares of the company’s stock, valued at approximately $4,261,068. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Kevin C. Berryman sold 1,500 shares of the firm’s 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 sale, the chief financial officer now directly owns 233,104 shares in the company, valued at approximately $35,711,532.80. The disclosure for this sale can be found here. Insiders sold a total of 24,338 shares of company stock valued at $3,618,695 over the last 90 days. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on J shares. 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. Robert W. Baird lowered their price objective on Jacobs Solutions from $168.00 to $163.00 and set an “outperform” rating for the company in a research report on Wednesday. William Blair cut shares of Jacobs Solutions from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Truist Financial decreased their target price on Jacobs Solutions from $154.00 to $153.00 and set a “hold” rating for the company in a report on Wednesday. Finally, Argus raised their target price on shares of Jacobs Solutions from $161.00 to $174.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Jacobs Solutions currently has an average rating of “Moderate Buy” and an average 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.