Jacobs Solutions (NYSE:J) Updates FY 2024 Earnings Guidance

Jacobs Solutions (NYSE:J) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $7.70-$8.20 for the period, compared to the consensus estimate of $8.40. The company issued revenue guidance of -.

Analysts Set New Price Targets

J has been the topic of a number of research reports. Credit Suisse Group cut their price target on shares of Jacobs Solutions from $153.00 to $151.00 and set an outperform rating on the stock in a research note on Wednesday, August 9th. Robert W. Baird boosted their price objective on shares of Jacobs Solutions from $135.00 to $150.00 in a research report on Wednesday, August 9th. StockNews.com started coverage on Jacobs Solutions in a report on Thursday, October 5th. They set a buy rating for the company. TD Cowen boosted their price target on Jacobs Solutions from $128.00 to $143.00 and gave the company an outperform rating in a report on Thursday, August 10th. Finally, Royal Bank of Canada increased their price objective on Jacobs Solutions from $152.00 to $157.00 and gave the stock an outperform rating in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $149.11.

Jacobs Solutions Stock Performance

J opened at $136.98 on Tuesday. The business’s 50-day simple moving average is $134.30 and its 200 day simple moving average is $127.13. Jacobs Solutions has a 52-week low of $109.00 and a 52-week high of $141.16. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.46 and a current ratio of 1.46. The firm has a market capitalization of $17.25 billion, a PE ratio of 23.62, a PEG ratio of 1.64 and a beta of 0.83.

Jacobs Solutions Dividend Announcement

The business also recently disclosed 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. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Thursday, October 26th. Jacobs Solutions’s dividend payout ratio is currently 17.93%.

Insider Activity at Jacobs Solutions

In other news, insider Steven J. Demetriou sold 6,666 shares of Jacobs Solutions stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $138.97, for a total value of $926,374.02. Following the completion of the transaction, the insider now owns 567,960 shares of the company’s stock, valued at approximately $78,929,401.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 19,998 shares of company stock valued at $2,722,394. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning grew its stake in Jacobs Solutions by 0.3% in the 3rd quarter. Creative Planning now owns 29,141 shares of the company’s stock valued at $3,978,000 after buying an additional 84 shares during the last quarter. Veritable L.P. boosted its holdings in shares of Jacobs Solutions by 1.7% during the first quarter. Veritable L.P. now owns 5,350 shares of the company’s stock worth $629,000 after acquiring an additional 91 shares during the period. Toroso Investments LLC grew its position in shares of Jacobs Solutions by 4.1% in the fourth quarter. Toroso Investments LLC now owns 2,381 shares of the company’s stock valued at $286,000 after purchasing an additional 93 shares during the last quarter. Kingsview Wealth Management LLC increased its stake in shares of Jacobs Solutions by 2.7% during the third quarter. Kingsview Wealth Management LLC now owns 3,746 shares of the company’s stock worth $406,000 after purchasing an additional 100 shares during the period. Finally, Clear Street Markets LLC lifted its holdings in Jacobs Solutions by 93.8% during the 1st quarter. Clear Street Markets LLC now owns 250 shares of the company’s stock worth $29,000 after purchasing an additional 121 shares during the last quarter. 84.77% of the stock is currently owned by institutional investors.

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.