Jacobs Engineering Group Inc (NYSE:JEC) – Analysts at KeyCorp increased their FY2018 EPS estimates for Jacobs Engineering Group in a note issued to investors on Thursday. KeyCorp analyst T. Afzal now anticipates that the construction company will post earnings per share of $4.14 for the year, up from their prior estimate of $3.84. KeyCorp currently has a “Overweight” rating and a $75.00 target price on the stock. KeyCorp also issued estimates for Jacobs Engineering Group’s FY2019 earnings at $4.95 EPS.
A number of other analysts have also recently issued reports on JEC. Robert W. Baird reaffirmed a “hold” rating and issued a $69.00 price objective on shares of Jacobs Engineering Group in a research report on Friday, November 24th. Barclays assumed coverage on Jacobs Engineering Group in a research report on Tuesday, December 12th. They issued an “overweight” rating and a $75.00 price objective for the company. Zacks Investment Research cut Jacobs Engineering Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 23rd. Credit Suisse Group reaffirmed an “outperform” rating and issued a $82.00 price objective on shares of Jacobs Engineering Group in a research report on Thursday, January 18th. Finally, ValuEngine raised Jacobs Engineering Group from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $74.00.
Jacobs Engineering Group (NYSE:JEC) last issued its quarterly earnings results on Wednesday, February 7th. The construction company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.67 by $0.10. Jacobs Engineering Group had a return on equity of 8.59% and a net margin of 2.30%. The firm had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the prior year, the firm posted $0.68 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year.
A number of large investors have recently added to or reduced their stakes in JEC. Wells Fargo & Company MN lifted its holdings in Jacobs Engineering Group by 68.7% during the 3rd quarter. Wells Fargo & Company MN now owns 4,012,084 shares of the construction company’s stock worth $233,784,000 after purchasing an additional 1,634,127 shares during the last quarter. Ruane Cunniff & Goldfarb Inc. increased its stake in Jacobs Engineering Group by 9.4% during the 3rd quarter. Ruane Cunniff & Goldfarb Inc. now owns 5,692,656 shares of the construction company’s stock worth $331,711,000 after acquiring an additional 487,089 shares during the period. Point72 Asset Management L.P. bought a new position in Jacobs Engineering Group during the 3rd quarter worth $23,148,000. Assenagon Asset Management S.A. bought a new position in Jacobs Engineering Group during the 3rd quarter worth $22,378,000. Finally, Monashee Investment Management LLC bought a new position in Jacobs Engineering Group during the 4th quarter worth $13,192,000. 71.51% of the stock is owned by institutional investors and hedge funds.
In related news, Director Joseph R. Bronson sold 6,125 shares of Jacobs Engineering Group stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $63.01, for a total transaction of $385,936.25. Following the completion of the sale, the director now directly owns 30,496 shares of the company’s stock, valued at approximately $1,921,552.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company 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. Investors of record on Friday, February 16th will be issued a dividend of $0.15 per share. The ex-dividend date is Thursday, February 15th. This represents a $0.60 annualized dividend and a yield of 0.97%. Jacobs Engineering Group’s payout ratio is currently 30.93%.
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Jacobs Engineering Group Company Profile
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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