Jacobs Solutions (NYSE:J) Issues FY24 Earnings Guidance

Jacobs Solutions (NYSE:J) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $7.70-8.20 for the period, compared to the consensus EPS estimate of $8.30. The company issued revenue guidance of $1.53-1.60 billion, compared to the consensus revenue estimate of $17.29 billion. Jacobs Solutions also updated its FY 2024 guidance to $7.70-$8.20 EPS.

Wall Street Analyst Weigh In

J has been the topic of a number of recent research reports. Credit Suisse Group reduced their target price on Jacobs Solutions from $153.00 to $151.00 and set an outperform rating on the stock in a research note on Wednesday, August 9th. Stifel Nicolaus upped their target price on Jacobs Solutions from $149.00 to $150.00 and gave the company a buy rating in a research note on Tuesday, October 24th. TD Cowen upped their target price on Jacobs Solutions from $128.00 to $143.00 and gave the company an outperform rating in a research note on Thursday, August 10th. HSBC initiated coverage on Jacobs Solutions in a research note on Friday, September 15th. They issued a hold rating and a $149.00 target price on the stock. Finally, Robert W. Baird upped their target price on Jacobs Solutions from $135.00 to $150.00 in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $149.11.

Jacobs Solutions Stock Up 1.2 %

Shares of NYSE J opened at $136.98 on Tuesday. Jacobs Solutions has a 12-month low of $109.00 and a 12-month high of $141.16. The company has a market cap of $17.25 billion, a P/E ratio of 23.62, a P/E/G ratio of 1.64 and a beta of 0.83. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.48. The stock has a fifty day moving average price of $134.30 and a 200 day moving average price of $127.13.

Jacobs Solutions (NYSE:J) last announced its quarterly earnings results on Tuesday, November 21st. The company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.12). The company had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.21 billion. Jacobs Solutions had a net margin of 4.65% and a return on equity of 14.30%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.80 earnings per share. Research analysts anticipate that Jacobs Solutions will post 7.33 EPS for the current fiscal year.

Jacobs Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Friday, October 27th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, October 26th. This represents a $1.04 annualized dividend and a dividend yield of 0.76%. Jacobs Solutions’s dividend payout ratio is presently 17.93%.

Insider Activity

In related news, insider Steven J. Demetriou sold 6,666 shares of Jacobs Solutions stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $132.81, for a total value of $885,311.46. Following the completion of the transaction, the insider now directly owns 574,626 shares in the company, valued at $76,316,079.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 19,998 shares of company stock worth $2,722,394 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Jacobs Solutions

A number of large investors have recently bought and sold shares of J. Vanguard Group Inc. raised its holdings in shares of Jacobs Solutions by 1.8% during the first quarter. Vanguard Group Inc. now owns 13,998,808 shares of the company’s stock valued at $1,929,175,000 after buying an additional 250,587 shares during the last quarter. Select Equity Group L.P. raised its holdings in shares of Jacobs Solutions by 12.6% during the first quarter. Select Equity Group L.P. now owns 4,717,432 shares of the company’s stock valued at $554,345,000 after buying an additional 529,557 shares during the last quarter. Capital International Investors raised its holdings in shares of Jacobs Solutions by 8.1% during the first quarter. Capital International Investors now owns 4,049,450 shares of the company’s stock valued at $558,055,000 after buying an additional 304,996 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Jacobs Solutions by 10.1% during the fourth quarter. Mackenzie Financial Corp now owns 3,271,522 shares of the company’s stock valued at $392,812,000 after buying an additional 300,725 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Jacobs Solutions by 1.5% during the first quarter. Geode Capital Management LLC now owns 2,604,991 shares of the company’s stock valued at $305,407,000 after buying an additional 38,360 shares during the last quarter. Institutional investors own 84.77% of the company’s stock.

Jacobs Solutions Company Profile

Jacobs Solutions Inc provides consulting, technical, scientific, and project delivery services for the government and private sectors in the United States, Europe, Canada, India, Asia, Australia, New Zealand, South America, Mexico, the Middle East, and Africa. It operates through three segments: Critical Mission Solutions, People & Places Solutions, and PA Consulting.