Jacobs Solutions (NYSE:J) Posts Quarterly 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 (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter last year, the firm posted $1.81 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. Jacobs Solutions updated its FY24 guidance to $7.80-8.10 EPS.

Jacobs Solutions Stock Down 2.3 %

NYSE J traded down $3.32 on Wednesday, hitting $138.32. 774,167 shares of the stock were exchanged, compared to its average volume of 647,565. The company has a market cap of $17.38 billion, a PE ratio of 24.76, a PEG ratio of 1.57 and a beta of 0.74. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average price of $147.34 and a 200-day moving average price of $138.31. Jacobs Solutions has a fifty-two week low of $109.00 and a fifty-two week high of $154.50.

Jacobs Solutions Announces Dividend

The business also recently disclosed 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 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 is presently 20.71%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on J shares. Truist Financial reduced their price objective 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. Robert W. Baird cut their price target on Jacobs Solutions from $168.00 to $163.00 and set an “outperform” rating for the company in a research note on Wednesday. William Blair downgraded Jacobs Solutions from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Argus increased their target price on Jacobs Solutions from $161.00 to $174.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Finally, Citigroup boosted their price target on Jacobs Solutions from $161.00 to $169.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $156.25.

Insider Buying and Selling

In related news, insider Steven J. Demetriou sold 7,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $143.86, for a total transaction of $1,007,020.00. Following the completion of the sale, the insider now owns 548,138 shares in the company, valued at approximately $78,855,132.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Jacobs Solutions news, CFO Kevin C. Berryman sold 1,500 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $153.20, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven J. Demetriou sold 7,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $143.86, for a total transaction of $1,007,020.00. Following the transaction, the insider now owns 548,138 shares in the company, valued at $78,855,132.68. The disclosure for this sale can be found here. Insiders sold a total of 24,338 shares of company stock worth $3,618,695 over the last 90 days. 1.00% of the stock is owned by insiders.

Jacobs Solutions Company Profile

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.