Jacobs Solutions (NYSE:J) Issues FY 2024 Earnings Guidance

Jacobs Solutions (NYSE:JGet Free Report) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 7.700-8.200 for the period, compared to the consensus EPS estimate of 7.950. The company issued revenue guidance of -. Jacobs Solutions also updated its FY 2024 guidance to 7.700-8.200 EPS.

Analysts Set New Price Targets

A number of 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 Jacobs Solutions in a research report on Thursday, March 14th. They issued a hold rating and a $154.00 target price on the stock. Argus increased their price target on shares of Jacobs Solutions from $161.00 to $174.00 and gave the stock a buy rating in a report on Thursday, March 14th. 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. Finally, KeyCorp assumed coverage on shares of Jacobs Solutions in a report on Wednesday, January 10th. They issued a sector weight rating on the stock. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $154.08.

Check Out Our Latest Analysis on J

Jacobs Solutions Stock Performance

J opened at $149.71 on Wednesday. The firm has a fifty day moving average price of $145.79 and a 200 day moving average price of $136.56. Jacobs Solutions has a 1 year low of $109.00 and a 1 year high of $154.50. The stock has a market cap of $18.81 billion, a P/E ratio of 26.73, a P/E/G ratio of 1.60 and a beta of 0.73. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.37 and a quick ratio of 1.37.

Jacobs Solutions (NYSE:JGet Free Report) last released its quarterly earnings data on Tuesday, February 6th. The company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.46. Jacobs Solutions had a net margin of 4.20% and a return on equity of 14.57%. The company had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the previous year, the company earned $1.67 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts anticipate that Jacobs Solutions will post 8.06 earnings per share for the current year.

Jacobs Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, February 23rd were issued a $0.29 dividend. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.16 dividend on an annualized basis and a yield of 0.77%. Jacobs Solutions’s dividend payout ratio is presently 20.71%.

Insiders Place Their Bets

In other news, EVP Shelette M. Gustafson sold 1,852 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $4,261,068. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Patrick Hill sold 5,486 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $149.00, for a total value of $817,414.00. Following the transaction, the executive vice president now directly owns 57,233 shares of the company’s stock, valued at approximately $8,527,717. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Shelette M. Gustafson sold 1,852 shares of Jacobs Solutions 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 in the company, valued at $4,261,068. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Jacobs Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Jacobs Solutions by 1.8% in the first quarter. Vanguard Group Inc. now owns 13,998,808 shares of the company’s stock worth $1,929,175,000 after buying an additional 250,587 shares in the last quarter. Select Equity Group L.P. lifted its stake in Jacobs Solutions by 12.6% in the 1st quarter. Select Equity Group L.P. now owns 4,717,432 shares of the company’s stock worth $554,345,000 after purchasing an additional 529,557 shares in the last quarter. Capital International Investors boosted its holdings in shares of Jacobs Solutions by 8.1% during the 1st quarter. Capital International Investors now owns 4,049,450 shares of the company’s stock worth $558,055,000 after purchasing an additional 304,996 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Jacobs Solutions by 10.1% in the fourth quarter. Mackenzie Financial Corp now owns 3,271,522 shares of the company’s stock valued at $392,812,000 after purchasing an additional 300,725 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Jacobs Solutions by 1.5% in the first quarter. Geode Capital Management LLC now owns 2,604,991 shares of the company’s stock valued at $305,407,000 after purchasing an additional 38,360 shares during the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.

About Jacobs Solutions

(Get Free Report)

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.

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Earnings History and Estimates for Jacobs Solutions (NYSE:J)

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