Jacobs Engineering Group Inc (NYSE:JEC) – Equities researchers at DA Davidson boosted their FY2019 earnings per share (EPS) estimates for shares of Jacobs Engineering Group in a report issued on Wednesday. DA Davidson analyst B. Thielman now expects that the construction company will post earnings per share of $4.50 for the year, up from their previous forecast of $3.90. DA Davidson has a “Hold” rating and a $68.00 price objective on the stock.
A number of other research analysts also recently issued reports on the company. Bank of America upped their price objective on Jacobs Engineering Group from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday. Jefferies Group set a $70.00 price target on Jacobs Engineering Group and gave the company a “hold” rating in a research report on Wednesday, February 7th. Robert W. Baird set a $75.00 price target on Jacobs Engineering Group and gave the company a “hold” rating in a research report on Wednesday, February 7th. Citigroup upped their price target on Jacobs Engineering Group from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, February 6th. Finally, Goldman Sachs Group raised Jacobs Engineering Group from a “sell” rating to a “neutral” rating in a research report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. Jacobs Engineering Group presently has an average rating of “Hold” and an average target price of $74.00.
Jacobs Engineering Group (NYSE:JEC) last announced its quarterly earnings data on Wednesday, February 7th. The construction company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.10. The firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.56 billion. Jacobs Engineering Group had a return on equity of 8.59% and a net margin of 2.30%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS.
Institutional investors and hedge funds have recently modified their holdings of the stock. Cerebellum GP LLC purchased a new stake in Jacobs Engineering Group during the 4th quarter worth about $127,000. Tower Research Capital LLC TRC purchased a new stake in Jacobs Engineering Group during the 4th quarter worth about $131,000. Whittier Trust Co. lifted its holdings in Jacobs Engineering Group by 141.2% during the 3rd quarter. Whittier Trust Co. now owns 2,050 shares of the construction company’s stock worth $119,000 after purchasing an additional 1,200 shares in the last quarter. Advisor Group Inc. lifted its holdings in Jacobs Engineering Group by 18.8% during the 2nd quarter. Advisor Group Inc. now owns 2,140 shares of the construction company’s stock worth $117,000 after purchasing an additional 339 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Jacobs Engineering Group during the 4th quarter worth about $200,000. 71.51% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Joseph R. Bronson sold 6,125 shares of the stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $63.01, for a total transaction of $385,936.25. Following the sale, the director now owns 30,496 shares of the company’s stock, valued at approximately $1,921,552.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.74% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, February 16th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, February 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.96%. Jacobs Engineering Group’s dividend payout ratio is presently 30.93%.
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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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