Jacobs Solutions (NYSE:J) Issues Earnings Results

Jacobs Solutions (NYSE:J) issued its quarterly earnings results on Tuesday. The company reported $1.96 EPS for the quarter, hitting the consensus estimate of $1.96, Briefing.com reports. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Jacobs Solutions had a return on equity of 14.59% and a net margin of 3.83%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.82 earnings per share. Jacobs Solutions updated its FY24 guidance to $7.85-$8.05 EPS and its FY 2024 guidance to 7.850-8.050 EPS.

Jacobs Solutions Stock Up 0.9 %

Jacobs Solutions stock traded up $1.24 during mid-day trading on Friday, reaching $143.50. 1,008,832 shares of the company’s stock were exchanged, compared to its average volume of 672,086. The company has a fifty day moving average of $141.71 and a 200-day moving average of $143.21. The company has a market cap of $17.97 billion, a P/E ratio of 27.76, a P/E/G 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 has a twelve month low of $120.71 and a twelve month high of $154.50.

Jacobs Solutions Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 0.81%. The ex-dividend date is Friday, July 26th. Jacobs Solutions’s payout ratio is currently 22.39%.

Wall Street Analyst Weigh In

J has been the topic of several analyst reports. William Blair lowered Jacobs Solutions from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 8th. Royal Bank of Canada boosted their target price on shares of Jacobs Solutions from $161.00 to $167.00 and gave the company an “outperform” rating in a report on Wednesday. Robert W. Baird cut their price target on shares of Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating for the company in a report on Wednesday. Citigroup upped their price objective on Jacobs Solutions from $161.00 to $169.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Finally, StockNews.com upgraded Jacobs Solutions from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $157.55.

Insiders Place Their Bets

In other Jacobs Solutions news, insider Steven J. Demetriou sold 7,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $146.88, for a total value of $1,028,160.00. Following the sale, the insider now directly owns 527,138 shares of the company’s stock, valued at approximately $77,426,029.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold a total of 21,000 shares of company stock worth $2,983,750 over the last 90 days. Corporate 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.