Citigroup upgraded shares of Jacobs Engineering Group (NYSE:JEC) from a neutral rating to a buy rating in a research report sent to investors on Monday morning, Marketbeat.com reports. Citigroup currently has $95.00 price target on the construction company’s stock.
A number of other research analysts also recently weighed in on the stock. Bank of America raised their price target on shares of Jacobs Engineering Group from $80.00 to $90.00 and gave the company a buy rating in a report on Tuesday, August 7th. UBS Group raised their price target on shares of Jacobs Engineering Group from $83.00 to $85.00 and gave the company a buy rating in a report on Tuesday, August 7th. DA Davidson upgraded shares of Jacobs Engineering Group from a neutral rating to a buy rating and set a $85.00 price target on the stock in a report on Monday, August 6th. ValuEngine upgraded shares of Jacobs Engineering Group from a hold rating to a buy rating in a report on Wednesday, September 19th. Finally, MKM Partners raised their price target on shares of Jacobs Engineering Group to $84.00 and gave the company a buy rating in a report on Thursday, September 6th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Jacobs Engineering Group has a consensus rating of Buy and a consensus target price of $82.15.
Shares of NYSE:JEC opened at $77.21 on Monday. The firm has a market cap of $10.26 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 1.07 and a beta of 1.55. Jacobs Engineering Group has a 12-month low of $55.21 and a 12-month high of $78.32. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.45 and a quick ratio of 1.45.
Jacobs Engineering Group (NYSE:JEC) last issued its earnings results on Monday, August 6th. The construction company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.14. The company had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4 billion. Jacobs Engineering Group had a net margin of 2.19% and a return on equity of 9.83%. The company’s revenue for the quarter was up 65.3% on a year-over-year basis. During the same quarter last year, the business posted $0.79 EPS. Equities analysts forecast that Jacobs Engineering Group will post 4.38 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 26th. Stockholders of record on Friday, September 28th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.78%. Jacobs Engineering Group’s dividend payout ratio is currently 18.52%.
Institutional investors have recently added to or reduced their stakes in the company. Madison Investment Holdings Inc. raised its holdings in Jacobs Engineering Group by 17.1% in the 2nd quarter. Madison Investment Holdings Inc. now owns 1,284,085 shares of the construction company’s stock worth $81,527,000 after acquiring an additional 187,572 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Jacobs Engineering Group in the 2nd quarter worth $1,323,000. Ruggie Capital Group bought a new position in Jacobs Engineering Group in the 2nd quarter worth $241,000. Granite Springs Asset Management LLC bought a new position in Jacobs Engineering Group in the 2nd quarter worth $898,000. Finally, First American Trust FSB raised its holdings in Jacobs Engineering Group by 7.2% in the 3rd quarter. First American Trust FSB now owns 42,370 shares of the construction company’s stock worth $3,241,000 after acquiring an additional 2,855 shares during the period. Institutional investors and hedge funds own 86.47% of the company’s stock.
About Jacobs Engineering Group
Jacobs Engineering Group Inc provides technical, professional, and construction services. It offers project services that include engineering, architectural, interiors, design, planning, and related services, as well as planning, scheduling, procurement, estimating, cost engineering, project accounting and delivery, safety, and other support services.
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