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

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

Jacobs Solutions Price Performance

J stock traded up $1.43 during trading on Thursday, hitting $139.94. The stock had a trading volume of 105,617 shares, compared to its average volume of 647,460. Jacobs Solutions has a twelve month low of $109.00 and a twelve month high of $154.50. The stock has a market capitalization of $17.58 billion, a P/E ratio of 24.73, a PEG ratio of 1.57 and a beta of 0.74. The company’s 50-day moving average price is $147.34 and its two-hundred day moving average price is $138.31. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 24th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Thursday, May 23rd. Jacobs Solutions’s payout ratio is 20.71%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on J. Royal Bank of Canada raised their price target on Jacobs Solutions from $151.00 to $161.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. KeyCorp began coverage on Jacobs Solutions in a research note on Wednesday, January 10th. They issued a “sector weight” rating on the stock. William Blair lowered Jacobs Solutions from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Argus lifted their target price on Jacobs Solutions from $161.00 to $174.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Finally, Truist Financial cut their target price on Jacobs Solutions from $154.00 to $153.00 and set a “hold” rating on the stock in a research note on Wednesday. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $156.25.

Insider Buying and Selling at Jacobs Solutions

In related news, EVP Shelette M. Gustafson sold 1,852 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $148.00, for a total value of $274,096.00. Following the transaction, the executive vice president now owns 28,791 shares of the company’s stock, valued at $4,261,068. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Shelette M. Gustafson sold 1,852 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $148.00, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Steven J. Demetriou sold 7,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $143.86, for a total transaction of $1,007,020.00. Following the transaction, the insider now directly owns 548,138 shares of the company’s stock, 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 quarter. 1.00% of the stock is owned by company insiders.

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.