Jacobs Solutions (NYSE:J) Announces Earnings Results, Beats Expectations By $0.03 EPS

Jacobs Solutions (NYSE:JGet Rating) released its earnings results on Monday. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.03, MarketWatch Earnings reports. The company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.85 billion. Jacobs Solutions had a net margin of 4.32% and a return on equity of 14.76%. Jacobs Solutions’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the business earned $1.58 EPS.

Jacobs Solutions Price Performance

NYSE J traded up $0.20 on Wednesday, hitting $123.70. The company had a trading volume of 13,610 shares, compared to its average volume of 600,448. The company has a market capitalization of $15.79 billion, a PE ratio of 24.79, a PEG ratio of 1.46 and a beta of 0.88. The company’s fifty day moving average price is $116.17 and its 200-day moving average price is $124.54. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.45 and a quick ratio of 1.43. Jacobs Solutions has a 12-month low of $106.78 and a 12-month high of $150.32.

Jacobs Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 28th. Investors of record on Friday, September 30th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Thursday, September 29th. Jacobs Solutions’s payout ratio is presently 18.47%.

Insider Buying and Selling

In related news, CEO Steven J. Demetriou sold 51,130 shares of the business’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $125.10, for a total value of $6,396,363.00. Following the completion of the sale, the chief executive officer now owns 631,447 shares of the company’s stock, valued at approximately $78,994,019.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Jacobs Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kingsview Wealth Management LLC boosted its stake in Jacobs Solutions by 2.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 3,746 shares of the company’s stock worth $406,000 after purchasing an additional 100 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of Jacobs Solutions by 4.1% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 4,573 shares of the company’s stock valued at $496,000 after acquiring an additional 178 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Jacobs Solutions by 3.8% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,184 shares of the company’s stock valued at $659,000 after acquiring an additional 190 shares during the last quarter. Meiji Yasuda Life Insurance Co boosted its position in shares of Jacobs Solutions by 3.8% during the 1st quarter. Meiji Yasuda Life Insurance Co now owns 8,554 shares of the company’s stock valued at $1,179,000 after acquiring an additional 314 shares during the last quarter. Finally, Toroso Investments LLC boosted its position in shares of Jacobs Solutions by 18.2% during the 3rd quarter. Toroso Investments LLC now owns 2,288 shares of the company’s stock valued at $248,000 after acquiring an additional 353 shares during the last quarter. Institutional investors and hedge funds own 86.73% of the company’s stock.

Wall Street Analysts Forecast Growth

J has been the subject of several research reports. StockNews.com initiated coverage on shares of Jacobs Solutions in a research note on Wednesday, October 12th. They set a “buy” rating for the company. Credit Suisse Group lifted their price objective on shares of Jacobs Solutions from $154.00 to $161.00 and gave the company an “outperform” rating in a research note on Tuesday. Royal Bank of Canada decreased their price objective on shares of Jacobs Solutions from $155.00 to $150.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Citigroup decreased their price objective on shares of Jacobs Solutions from $155.00 to $151.00 and set a “buy” rating for the company in a research note on Tuesday, August 2nd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $157.00.

Jacobs Solutions Company Profile

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Jacobs Solutions Inc provides consulting, technical, scientific, and project delivery services for the government and private sectors in the United States, Europe, Canada, India, rest of Asia, Australia, New Zealand, South America, Mexico, the Middle East, and Africa. It provides cybersecurity, data analytics, systems and software application integration and consulting, enterprise and mission IT, engineering and design, nuclear, enterprise level operations and maintenance, artificial intelligence and automation, software development, digitally driven consulting, planning and architecture, program management, and other technical consulting solutions.

Further Reading

Earnings History for Jacobs Solutions (NYSE:J)

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