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

Jacobs Solutions (NYSE:J - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.84 by $0.07, Briefing.com reports. Jacobs Solutions had a net margin of 4.20% and a return on equity of 14.57%. The company had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same period in the prior year, the firm posted $1.81 EPS. The firm's revenue was up 4.7% compared to the same quarter last year. Jacobs Solutions updated its FY24 guidance to $7.80-8.10 EPS.

Jacobs Solutions Stock Down 2.2 %

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

Jacobs Solutions Announces Dividend

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

Insider Activity

In other news, CFO Kevin C. Berryman sold 1,500 shares of the business's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $153.20, for a total transaction of $229,800.00. Following the sale, the chief financial officer now owns 233,104 shares in the company, valued at $35,711,532.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Kevin C. Berryman sold 1,500 shares of Jacobs Solutions stock in a transaction 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 sale, the chief financial officer now directly owns 233,104 shares in the company, valued at $35,711,532.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Shelette M. Gustafson sold 1,852 shares of the company's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $148.00, for a total value of $274,096.00. Following the completion of the transaction, the executive vice president now directly owns 28,791 shares in the company, valued at $4,261,068. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,338 shares of company stock worth $3,618,695. Insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on J. Citigroup lifted their target price on Jacobs Solutions from $161.00 to $169.00 and gave the stock a "buy" rating in a research report on Monday, April 22nd. William Blair downgraded shares of Jacobs Solutions from an "outperform" rating to a "market perform" rating in a research note on Wednesday. Robert W. Baird decreased their price target on shares of Jacobs Solutions from $168.00 to $163.00 and set an "outperform" rating for the company in a research note on Wednesday. Royal Bank of Canada increased their price objective on Jacobs Solutions from $151.00 to $161.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 7th. Finally, Truist Financial decreased 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. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $156.25.

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.