KeyCorp Brokers Decrease Earnings Estimates for Jacobs Engineering Group Inc. (NYSE:J)
Jacobs Engineering Group Inc. (NYSE:J – Get Rating) – Analysts at KeyCorp decreased their FY2022 earnings per share (EPS) estimates for shares of Jacobs Engineering Group in a research report issued on Monday, August 1st. KeyCorp analyst S. Eastman now forecasts that the company will post earnings of $6.94 per share for the year, down from their previous estimate of $7.01. The consensus estimate for Jacobs Engineering Group’s current full-year earnings is $7.06 per share. KeyCorp also issued estimates for Jacobs Engineering Group’s FY2023 earnings at $7.78 EPS, FY2024 earnings at $8.73 EPS and FY2025 earnings at $9.64 EPS.
Jacobs Engineering Group (NYSE:J – Get Rating) last released its quarterly earnings results on Monday, August 1st. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.80 by $0.06. Jacobs Engineering Group had a return on equity of 14.45% and a net margin of 3.16%. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same period last year, the business posted $1.64 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis.
Several other brokerages have also commented on J. Credit Suisse Group dropped their price target on shares of Jacobs Engineering Group from $159.00 to $154.00 and set a “maintains” rating on the stock in a research note on Tuesday. StockNews.com upgraded shares of Jacobs Engineering Group from a “hold” rating to a “buy” rating in a research report on Friday, May 6th. Royal Bank of Canada began coverage on shares of Jacobs Engineering Group in a report on Wednesday, April 27th. They set an “outperform” rating and a $173.00 price objective for the company. Finally, Citigroup dropped their price target on shares of Jacobs Engineering Group from $155.00 to $151.00 and set a “buy” rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $161.14.
Jacobs Engineering Group Trading Down 1.3 %
Shares of Jacobs Engineering Group stock opened at $127.79 on Wednesday. The business has a 50 day moving average price of $129.01 and a 200 day moving average price of $131.54. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.43 and a quick ratio of 1.25. The company has a market capitalization of $16.44 billion, a P/E ratio of 35.90, a P/E/G ratio of 1.58 and a beta of 0.83. Jacobs Engineering Group has a 1 year low of $114.11 and a 1 year high of $150.32.
Jacobs Engineering Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, July 29th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Thursday, July 28th. Jacobs Engineering Group’s dividend payout ratio (DPR) is presently 25.84%.
Hedge Funds Weigh In On Jacobs Engineering Group
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Jacobs Engineering Group by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 13,998,808 shares of the company’s stock worth $1,929,175,000 after buying an additional 250,587 shares during the last quarter. State Street Corp lifted its stake in Jacobs Engineering Group by 0.5% in the 4th quarter. State Street Corp now owns 8,479,505 shares of the company’s stock valued at $1,180,601,000 after buying an additional 42,028 shares in the last quarter. Capital World Investors raised its position in shares of Jacobs Engineering Group by 3.6% in the 1st quarter. Capital World Investors now owns 7,346,392 shares of the company’s stock worth $1,012,406,000 after buying an additional 258,525 shares during the period. Select Equity Group L.P. increased its holdings in Jacobs Engineering Group by 12.4% in the 1st quarter. Select Equity Group L.P. now owns 5,814,904 shares of the company’s stock valued at $801,352,000 after purchasing an additional 641,965 shares in the last quarter. Finally, Capital International Investors grew its stake in shares of Jacobs Engineering Group 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 acquiring an additional 304,996 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.
Jacobs Engineering Group Company Profile
Jacobs Engineering Group Inc provides consulting, technical, scientific, and project delivery services for the government and private sectors in the United States, Europe, Canada, India, rest of Asia, Australia, New Zealand, South America, Mexico, the Middle East, and Africa. The company operates in two segments, Critical Mission Solutions and People & Places Solutions.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to firstname.lastname@example.org.
Before you consider Jacobs Engineering Group, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Jacobs Engineering Group wasn’t on the list.
While Jacobs Engineering Group currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.