Jacobs Solutions (NYSE:J) Issues Earnings Results, Beats Expectations By $0.07 EPS

Jacobs Solutions (NYSE:J) posted its quarterly earnings results on Tuesday. The company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.07, Briefing.com reports. The firm had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.33 billion. Jacobs Solutions had a net margin of 4.20% and a return on equity of 14.57%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.81 earnings per share. Jacobs Solutions updated its FY24 guidance to $7.80-8.10 EPS.

Jacobs Solutions Trading Down 2.3 %

Shares of J stock traded down $3.32 on Wednesday, hitting $138.32. 774,167 shares of the company’s stock traded hands, compared to its average volume of 647,565. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market capitalization of $17.38 billion, a price-to-earnings ratio of 24.76, a P/E/G ratio of 1.57 and a beta of 0.74. The company’s fifty day simple moving average is $147.34 and its 200 day simple moving average is $138.31. Jacobs Solutions has a one year low of $109.00 and a one year high of $154.50.

Jacobs Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 24th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Thursday, May 23rd. Jacobs Solutions’s dividend payout ratio is 20.71%.

Insider Buying and Selling

In related news, insider Steven J. Demetriou sold 7,000 shares of Jacobs Solutions stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $143.86, for a total value of $1,007,020.00. Following the sale, the insider now owns 548,138 shares in the company, valued at $78,855,132.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Shelette M. Gustafson sold 1,852 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $148.00, for a total transaction of $274,096.00. Following the completion of the transaction, the executive vice president now directly owns 28,791 shares in the company, valued at $4,261,068. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven J. Demetriou sold 7,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 548,138 shares in the company, valued at $78,855,132.68. The disclosure for this sale can be found here. Insiders have sold a total of 24,338 shares of company stock valued at $3,618,695 over the last three months. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on J shares. Royal Bank of Canada boosted their price target on shares of Jacobs Solutions from $151.00 to $161.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Bank of America raised their price target on Jacobs Solutions from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Citigroup boosted their price objective on Jacobs Solutions from $161.00 to $169.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. KeyCorp assumed coverage on shares of Jacobs Solutions in a research note on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Finally, William Blair cut shares of Jacobs Solutions from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Six 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.com, Jacobs Solutions has a consensus rating of “Moderate Buy” and an average target price of $156.25.

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.