Jacobs Solutions (NYSE:J) Updates FY24 Earnings Guidance

Jacobs Solutions (NYSE:J) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $7.80-8.10 for the period, compared to the consensus EPS estimate of $8.02.

Analysts Set New Price Targets

Several research analysts have commented on J shares. Royal Bank of Canada lifted their price target on Jacobs Solutions from $151.00 to $161.00 and gave the stock an outperform rating in a research report on Wednesday, February 7th. Truist Financial began coverage on shares of Jacobs Solutions in a research note on Thursday, March 14th. They set a hold rating and a $154.00 price target for the company. Bank of America lifted their price objective on shares of Jacobs Solutions from $145.00 to $152.00 and gave the company a neutral rating in a research note on Tuesday, April 2nd. KeyCorp initiated coverage on shares of Jacobs Solutions in a research note on Wednesday, January 10th. They set a sector weight rating for the company. Finally, Citigroup upped their price objective on Jacobs Solutions from $161.00 to $169.00 and gave the company a buy rating in a research note on Monday, April 22nd. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $155.25.

Jacobs Solutions Price Performance

Shares of NYSE:J traded down $7.44 on Tuesday, hitting $141.64. The company had a trading volume of 777,333 shares, compared to its average volume of 638,948. The company has a market cap of $17.80 billion, a PE ratio of 26.62, a PEG ratio of 1.57 and a beta of 0.74. The business has a 50 day moving average of $147.46 and a 200 day moving average of $138.24. Jacobs Solutions has a 52-week low of $109.00 and a 52-week high of $154.50. 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 (NYSE:J) last released its earnings results on Tuesday, February 6th. The company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.56 by $0.46. Jacobs Solutions had a return on equity of 14.57% and a net margin of 4.20%. The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the firm posted $1.67 earnings per share. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, equities analysts anticipate that Jacobs Solutions will post 8.07 earnings per share for the current fiscal year.

Jacobs Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 24th will be paid a dividend of $0.29 per share. The ex-dividend date is Thursday, May 23rd. This represents a $1.16 annualized dividend and a yield of 0.82%. Jacobs Solutions’s dividend payout ratio is presently 20.71%.

Insider Transactions at Jacobs Solutions

In other news, EVP Shelette M. Gustafson sold 1,852 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 28,791 shares of the company’s stock, valued at $4,261,068. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Steven J. Demetriou sold 7,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $153.20, for a total transaction of $1,072,400.00. Following the completion of the sale, the insider now directly owns 555,138 shares in the company, valued at $85,047,141.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Shelette M. Gustafson sold 1,852 shares of the business’s stock in a transaction dated 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 owns 28,791 shares in the company, valued at approximately $4,261,068. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,338 shares of company stock worth $3,618,695. 1.00% of the stock is currently owned by company 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.