Jacobs Engineering Group Inc. (JEC) Lifted to Hold at Zacks Investment Research
According to Zacks, “Jacobs’ adjusted earnings in fiscal fourth-quarter 2016 were in line with the Zacks Consensus Estimate, however revenues fell short of the same. Dismal pricing conditions prevailing in the global commodity and energy markets have been hurting the company’s three major line-of-business’ revenues. Also, a stronger U.S. dollar has been weighing on its international top- and bottom-line performances. Moreover, strong industry rivalry is augmenting the bargaining power of end-users, which, in turn, enhances the market share loss risks for the company. However, Jacobs firmly plans to improve its performance by streamlining operations, reducing costs and managing working capital more efficiently. In addition, the company intends to reward its shareholders with lucrative share buyback offers.”
A number of other equities research analysts also recently issued reports on JEC. FBR & Co increased their price objective on shares of Jacobs Engineering Group from $47.00 to $55.00 and gave the stock a mkt perform rating in a research note on Friday, August 12th. Deutsche Bank AG raised their price target on shares of Jacobs Engineering Group from $53.00 to $54.00 and gave the company a hold rating in a research note on Wednesday, August 10th. TheStreet upgraded shares of Jacobs Engineering Group from a hold rating to a buy rating in a research note on Monday, November 21st. Credit Suisse Group AG restated a buy rating and issued a $60.00 price target on shares of Jacobs Engineering Group in a research note on Tuesday, November 22nd. Finally, Jefferies Group restated a buy rating and issued a $54.00 price target on shares of Jacobs Engineering Group in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $51.41.
Jacobs Engineering Group (NYSE:JEC) opened at 62.01 on Monday. The company’s 50-day moving average is $53.85 and its 200-day moving average is $52.31. The firm has a market cap of $7.49 billion, a PE ratio of 35.84 and a beta of 1.61. Jacobs Engineering Group has a one year low of $34.76 and a one year high of $63.42.
Jacobs Engineering Group (NYSE:JEC) last announced its quarterly earnings data on Tuesday, November 22nd. The company reported $0.77 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.77. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.78 billion. Jacobs Engineering Group had a net margin of 1.92% and a return on equity of 8.48%. The business’s revenue for the quarter was down 15.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.80 earnings per share. On average, analysts forecast that Jacobs Engineering Group will post $3.20 earnings per share for the current fiscal year.
In other news, Director Noel G. Watson sold 66,668 shares of the company’s stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $51.71, for a total transaction of $3,447,402.28. Following the sale, the director now directly owns 736,669 shares in the company, valued at $38,093,153.99. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 3.16% of the company’s stock.
Several large investors have recently made changes to their positions in JEC. Integrated Investment Consultants LLC boosted its stake in shares of Jacobs Engineering Group by 2.1% in the second quarter. Integrated Investment Consultants LLC now owns 2,048 shares of the company’s stock valued at $102,000 after buying an additional 42 shares in the last quarter. Acrospire Investment Management LLC boosted its stake in shares of Jacobs Engineering Group by 340.0% in the second quarter. Acrospire Investment Management LLC now owns 2,200 shares of the company’s stock valued at $110,000 after buying an additional 1,700 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Jacobs Engineering Group by 33.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,366 shares of the company’s stock valued at $117,000 after buying an additional 594 shares in the last quarter. Baldwin Brothers Inc. MA bought a new stake in shares of Jacobs Engineering Group during the third quarter valued at $129,000. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in shares of Jacobs Engineering Group by 40.0% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,800 shares of the company’s stock valued at $145,000 after buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 86.63% of the company’s stock.
Jacobs Engineering Group Company Profile
Jacobs Engineering Group Inc is a technical professional services company. The Company provides a range of technical, professional and construction services to industrial, commercial and governmental clients. The Company’s services include Project Services; Process, Scientific, and Systems Consulting Services; Construction Services, and Operations and Maintenance Services.
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