$2.54 Billion in Sales Expected for Jacobs Engineering Group Inc. (NYSE:JEC) This Quarter
Equities analysts expect Jacobs Engineering Group Inc. (NYSE:JEC) to announce sales of $2.54 billion for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Jacobs Engineering Group’s earnings. The highest sales estimate is $2.63 billion and the lowest is $2.43 billion. Jacobs Engineering Group posted sales of $2.69 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 5.6%. The company is scheduled to issue its next earnings results on Tuesday, August 8th.
On average, analysts expect that Jacobs Engineering Group will report full-year sales of $2.54 billion for the current financial year, with estimates ranging from $9.85 billion to $10.61 billion. For the next fiscal year, analysts expect that the business will post sales of $10.90 billion per share, with estimates ranging from $10.30 billion to $11.54 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Jacobs Engineering Group.
Jacobs Engineering Group (NYSE:JEC) last released its quarterly earnings data on Tuesday, May 9th. The construction company reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.07. Jacobs Engineering Group had a net margin of 2.05% and a return on equity of 8.56%. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same period in the previous year, the business posted $0.75 earnings per share. The company’s revenue for the quarter was down 17.2% compared to the same quarter last year.
Several research analysts have recently weighed in on the company. Robert W. Baird reiterated a “neutral” rating and set a $64.00 price target (up previously from $62.00) on shares of Jacobs Engineering Group in a research note on Friday, May 12th. BidaskClub raised Jacobs Engineering Group from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Zacks Investment Research raised Jacobs Engineering Group from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a report on Tuesday, April 11th. Finally, Credit Suisse Group reissued a “buy” rating and set a $69.00 price objective on shares of Jacobs Engineering Group in a report on Friday, April 21st. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $60.60.
Jacobs Engineering Group (JEC) traded up 1.97% during midday trading on Wednesday, hitting $53.43. The stock had a trading volume of 580,297 shares. The company has a 50-day moving average price of $53.75 and a 200-day moving average price of $55.37. The stock has a market cap of $6.43 billion, a P/E ratio of 31.06 and a beta of 1.53. Jacobs Engineering Group has a 52 week low of $49.15 and a 52 week high of $63.42.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, August 2nd. This represents a $0.60 annualized dividend and a dividend yield of 1.12%. Jacobs Engineering Group’s payout ratio is currently 34.88%.
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Several hedge funds have recently added to or reduced their stakes in JEC. Global X Management Co. LLC boosted its stake in Jacobs Engineering Group by 204.2% in the first quarter. Global X Management Co. LLC now owns 2,032 shares of the construction company’s stock valued at $112,000 after buying an additional 1,364 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Jacobs Engineering Group during the first quarter valued at $160,000. Mn Services Vermogensbeheer B.V. boosted its stake in Jacobs Engineering Group by 5.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,226 shares of the construction company’s stock valued at $167,000 after buying an additional 158 shares during the last quarter. Invictus RG acquired a new stake in Jacobs Engineering Group during the first quarter valued at $178,000. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in Jacobs Engineering Group by 0.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,601 shares of the construction company’s stock valued at $199,000 after buying an additional 25 shares during the last quarter. 86.95% of the stock is currently owned by hedge funds and other institutional investors.
About Jacobs Engineering Group
Jacobs Engineering Group Inc is a technical professional services company. The Company provides a range of technical, professional and construction services to industrial, commercial and governmental clients. The Company’s services include Project Services; Process, Scientific, and Systems Consulting Services; Construction Services, and Operations and Maintenance Services.
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