Jacobs Solutions (NYSE:J) Updates FY24 Earnings Guidance

Jacobs Solutions (NYSE:J) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $7.80-8.10 for the period, compared to the consensus earnings per share estimate of $8.02.

Jacobs Solutions Price Performance

J stock traded down $3.12 during midday trading on Wednesday, hitting $138.52. The company’s stock had a trading volume of 1,291,417 shares, compared to its average volume of 653,766. Jacobs Solutions has a 12 month low of $109.00 and a 12 month high of $154.50. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $17.40 billion, a price-to-earnings ratio of 24.73, a price-to-earnings-growth ratio of 1.57 and a beta of 0.74. The company has a 50 day moving average of $147.34 and a two-hundred day moving average of $138.31.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.07. Jacobs Solutions had a return on equity of 14.57% and a net margin of 4.20%. The business had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same period in the prior year, the company posted $1.81 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, analysts expect that Jacobs Solutions will post 8.07 EPS for the current year.

Jacobs Solutions Dividend Announcement

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

Wall Street Analysts Forecast Growth

J has been the subject of a number of research reports. Robert W. Baird lowered their target price on Jacobs Solutions from $168.00 to $163.00 and set an outperform rating for the company in a research report on Wednesday. Truist Financial lowered their target price on Jacobs Solutions from $154.00 to $153.00 and set a hold rating for the company in a research report on Wednesday. Argus increased their target price on Jacobs Solutions from $161.00 to $174.00 and gave the company a buy rating in a research report on Thursday, March 14th. Bank of America increased their price target on Jacobs Solutions from $145.00 to $152.00 and gave the company a neutral rating in a report on Tuesday, April 2nd. Finally, William Blair lowered Jacobs Solutions from an outperform rating to a market perform rating in a report on Wednesday. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Jacobs Solutions currently has an average rating of Moderate Buy and a consensus target price of $156.25.

Insider Buying and Selling at Jacobs Solutions

In related news, insider Steven J. Demetriou sold 7,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $153.20, for a total value of $1,072,400.00. Following the completion of the transaction, the insider now directly owns 555,138 shares of the company’s stock, valued at approximately $85,047,141.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Jacobs Solutions news, CFO Kevin C. Berryman sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $153.20, for a total transaction of $229,800.00. Following the completion of the transaction, the chief financial officer now directly owns 233,104 shares of the company’s stock, valued at approximately $35,711,532.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven J. Demetriou sold 7,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 555,138 shares of the company’s stock, valued at $85,047,141.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,338 shares of company stock worth $3,618,695. 1.00% of the stock is owned by 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.