Zacks: Brokerages Anticipate Jacobs Engineering Group Inc. (NYSE:JEC) Will Announce Quarterly Sales of $2.53 Billion
Brokerages forecast that Jacobs Engineering Group Inc. (NYSE:JEC) will post sales of $2.53 billion for the current quarter, Zacks reports. 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 suggests a negative year-over-year growth rate of 5.9%. The firm is scheduled to issue its next earnings report before the market opens on Tuesday, August 8th.
On average, analysts expect that Jacobs Engineering Group will report full-year sales of $2.53 billion for the current financial year, with estimates ranging from $9.85 billion to $10.61 billion. For the next fiscal year, analysts anticipate that the company will post sales of $10.81 billion per share, with estimates ranging from $10.30 billion to $11.54 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Jacobs Engineering Group.
Jacobs Engineering Group (NYSE:JEC) last posted its quarterly earnings data on Tuesday, May 9th. The construction company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.07. Jacobs Engineering Group had a return on equity of 8.56% and a net margin of 2.05%. The business had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The business’s revenue was down 17.2% on a year-over-year basis.
A number of analysts have commented on the company. Jefferies Group LLC reissued a “hold” rating and issued a $61.00 target price on shares of Jacobs Engineering Group in a report on Friday. Citigroup Inc. lowered Jacobs Engineering Group from a “buy” rating to a “neutral” rating and set a $62.00 target price for the company. in a report on Thursday, August 3rd. BidaskClub lowered Jacobs Engineering Group from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Robert W. Baird reissued a “neutral” rating and issued a $64.00 target price (up previously from $62.00) on shares of Jacobs Engineering Group in a report on Friday, May 12th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $69.00 target price on shares of Jacobs Engineering Group in a report on Friday, April 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. Jacobs Engineering Group has a consensus rating of “Hold” and a consensus price target of $60.73.
Institutional investors have recently added to or reduced their stakes in the company. Global X Management Co. LLC increased its position 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 period. First Manhattan Co. increased its position in Jacobs Engineering Group by 1,013.6% in the second quarter. First Manhattan Co. now owns 2,383 shares of the construction company’s stock valued at $129,000 after buying an additional 2,169 shares during the period. Ameritas Investment Partners Inc. bought a new position in Jacobs Engineering Group during the first quarter valued at $160,000. Mn Services Vermogensbeheer B.V. increased its position 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 period. Finally, Invictus RG bought a new position in Jacobs Engineering Group during the first quarter valued at $178,000. Hedge funds and other institutional investors own 87.41% of the company’s stock.
Jacobs Engineering Group (JEC) opened at 52.31 on Tuesday. Jacobs Engineering Group has a 12 month low of $49.15 and a 12 month high of $63.42. The stock has a market cap of $6.30 billion, a PE ratio of 30.41 and a beta of 1.52. The stock’s 50 day moving average price is $53.67 and its 200-day moving average price is $55.02.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 4th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.15%. Jacobs Engineering Group’s dividend payout ratio (DPR) is currently 34.88%.
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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