FY2024 EPS Estimates for Jacobs Solutions Inc. (NYSE:J) Cut by Analyst

Jacobs Solutions Inc. (NYSE:J) – Equities researchers at William Blair dropped their FY2024 earnings estimates for shares of Jacobs Solutions in a note issued to investors on Monday, September 30th. William Blair analyst L. Dipalma now expects that the company will post earnings per share of $7.40 for the year, down from their previous forecast of $8.03. The consensus estimate for Jacobs Solutions’ current full-year earnings is $7.98 per share.

Jacobs Solutions (NYSE:J) last announced its earnings results on Tuesday, August 6th. The company reported $1.96 EPS for the quarter, hitting the consensus estimate of $1.96. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.39 billion. Jacobs Solutions had a net margin of 3.72% and a return on equity of 14.76%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the company posted $1.82 EPS.

A number of other equities analysts also recently weighed in on J. Royal Bank of Canada boosted their target price on shares of Jacobs Solutions from $161.00 to $167.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. StockNews.com initiated coverage on shares of Jacobs Solutions in a report on Wednesday. They set a “buy” rating on the stock. UBS Group boosted their target price on shares of Jacobs Solutions from $161.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Robert W. Baird lowered their target price on shares of Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Finally, Truist Financial restated a “hold” rating and set a $158.00 target price (up from $153.00) on shares of Jacobs Solutions in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.67.

Jacobs Solutions Price Performance

NYSE J opened at $138.91 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.31. Jacobs Solutions has a 12-month low of $120.71 and a 12-month high of $156.31. The company has a market capitalization of $17.39 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 1.70 and a beta of 0.72. The firm’s 50 day moving average is $145.51 and its 200-day moving average is $143.88.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Stifel Financial Corp increased its stake in shares of Jacobs Solutions by 40.9% in the fourth quarter. Stifel Financial Corp now owns 64,925 shares of the company’s stock valued at $8,428,000 after buying an additional 18,836 shares during the period. Scotia Capital Inc. increased its stake in shares of Jacobs Solutions by 10.8% in the fourth quarter. Scotia Capital Inc. now owns 9,017 shares of the company’s stock valued at $1,170,000 after buying an additional 877 shares during the period. California State Teachers Retirement System increased its stake in shares of Jacobs Solutions by 2.4% in the fourth quarter. California State Teachers Retirement System now owns 203,238 shares of the company’s stock valued at $26,380,000 after buying an additional 4,759 shares during the period. KBC Group NV increased its stake in shares of Jacobs Solutions by 63.0% in the fourth quarter. KBC Group NV now owns 30,786 shares of the company’s stock valued at $3,996,000 after buying an additional 11,903 shares during the period. Finally, NEOS Investment Management LLC acquired a new position in shares of Jacobs Solutions in the fourth quarter valued at approximately $232,000. Institutional investors and hedge funds own 85.65% of the company’s stock.

Insider Activity

In related news, insider Steven J. Demetriou sold 7,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $146.88, for a total transaction of $1,028,160.00. Following the completion of the sale, the insider now owns 527,138 shares of the company’s stock, valued at $77,426,029.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Steven J. Demetriou sold 7,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $146.88, for a total transaction of $1,028,160.00. Following the completion of the sale, the insider now owns 527,138 shares of the company’s stock, valued at $77,426,029.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP William B. Allen, Jr. sold 1,451 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $146.51, for a total transaction of $212,586.01. Following the sale, the senior vice president now directly owns 26,699 shares of the company’s stock, valued at approximately $3,911,670.49. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,516 shares of company stock valued at $2,152,693. 1.00% of the stock is owned by company insiders.

Jacobs Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.84%. Jacobs Solutions’s payout ratio is presently 22.39%.

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.