William Blair Equities Analysts Lower Earnings Estimates for Jacobs Solutions Inc. (NYSE:J)

Jacobs Solutions Inc. (NYSE:J) – Equities researchers at William Blair reduced their FY2024 earnings per share estimates for shares of Jacobs Solutions in a research note issued on Monday, September 30th. William Blair analyst L. Dipalma now forecasts that the company will post earnings of $7.40 per share 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 quarterly earnings results on Tuesday, August 6th. The company reported $1.96 EPS for the quarter, meeting the consensus estimate of $1.96. The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Jacobs Solutions had a return on equity of 14.76% and a net margin of 3.72%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.82 EPS.

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

Jacobs Solutions Trading Up 2.3 %

Shares of NYSE J opened at $135.08 on Wednesday. The business has a 50 day simple moving average of $145.65 and a 200 day simple moving average of $143.92. Jacobs Solutions has a 52 week low of $120.71 and a 52 week high of $156.31. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market cap of $16.91 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 1.70 and a beta of 0.72.

Hedge Funds Weigh In On Jacobs Solutions

Several hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its stake in Jacobs Solutions by 7.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 42,031 shares of the company’s stock valued at $5,456,000 after buying an additional 2,836 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Jacobs Solutions by 8.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 139,469 shares of the company’s stock worth $21,441,000 after purchasing an additional 10,542 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Jacobs Solutions by 90.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 18,623 shares of the company’s stock worth $2,417,000 after purchasing an additional 8,848 shares during the period. Armstrong Henry H Associates Inc. acquired a new stake in shares of Jacobs Solutions during the first quarter worth about $2,626,000. Finally, Russell Investments Group Ltd. raised its position in shares of Jacobs Solutions by 305.4% during the first quarter. Russell Investments Group Ltd. now owns 182,135 shares of the company’s stock worth $27,910,000 after purchasing an additional 137,213 shares during the period. Institutional investors own 85.65% of the company’s stock.

Insider Buying and Selling at Jacobs Solutions

In other news, Director Christopher M.T. Thompson sold 1,898 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $150.85, for a total transaction of $286,313.30. Following the sale, the director now owns 42,069 shares in the company, valued at $6,346,108.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP William B. Allen, Jr. sold 1,451 shares of the stock in a transaction on 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 owns 26,699 shares in the company, valued at $3,911,670.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher M.T. Thompson sold 1,898 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $150.85, for a total value of $286,313.30. Following the completion of the transaction, the director now owns 42,069 shares in the company, valued at approximately $6,346,108.65. The disclosure for this sale can be found here. Insiders have sold 14,516 shares of company stock worth $2,152,693 over the last three months. Company insiders own 1.00% of the company’s stock.

Jacobs Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, October 25th. Jacobs Solutions’s dividend payout ratio (DPR) is 22.39%.

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.