Jacobs Solutions (NYSE:J) Announces Stock Buyback Program

Jacobs Solutions (NYSE:J) announced that its board has approved a stock buyback plan on Tuesday, February 4th, RTT News reports. The company plans to buyback $1.50 billion in shares. This buyback authorization allows the company to buy up to 9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on J shares. Truist Financial boosted their price objective on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Citigroup decreased their price objective on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $152.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Robert W. Baird lifted their price target on shares of Jacobs Solutions from $147.00 to $149.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Finally, Benchmark lowered shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $156.00.

Jacobs Solutions Stock Performance

J opened at $133.89 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market capitalization of $16.61 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 2.11 and a beta of 0.72. The company has a fifty day moving average of $136.77 and a 200 day moving average of $141.29. Jacobs Solutions has a fifty-two week low of $110.95 and a fifty-two week high of $150.54.

Jacobs Solutions (NYSE:J) last issued its earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Jacobs Solutions had a return on equity of 14.82% and a net margin of 5.16%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.45 earnings per share. As a group, sell-side analysts forecast that Jacobs Solutions will post 6.06 earnings per share for the current fiscal year.

Jacobs Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 21st will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.96%. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, February 21st. Jacobs Solutions’s dividend payout ratio is 18.33%.

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.