Zacks Investment Research upgraded shares of Jacobs Engineering Group (NYSE:JEC) from a hold rating to a buy rating in a research report released on Monday, January 8th. They currently have $76.00 target price on the construction company’s stock.
According to Zacks, “Shares of Jacobs have outperformed the industry over the last three months. The company is poised to grow on the back of robust acquisitions and strategic restructuring moves. For instance, the company has acquired CH2M, in a bid to become a $15-billion global solutions provider, moving ahead. Moreover, we perceive that increased infrastructure spending in the United States and strong demand for major emerging economies like China would likely prove beneficial to the company going forward. The company is also poised to grow on the back of lucrative business contracts and is well focused in maximizing shareholders’ value. Over the last 60 days, Zacks Consensus Estimate for the stock has moved north for both fiscal 2018 and 2019.”
Several other equities research analysts also recently commented on JEC. MKM Partners set a $61.00 price objective on shares of Jacobs Engineering Group and gave the company a neutral rating in a report on Tuesday, November 28th. Robert W. Baird reaffirmed a hold rating and set a $63.00 price objective on shares of Jacobs Engineering Group in a report on Friday, October 6th. KeyCorp upped their price objective on shares of Jacobs Engineering Group from $65.00 to $75.00 and gave the company an overweight rating in a report on Wednesday, November 22nd. ValuEngine downgraded shares of Jacobs Engineering Group from a buy rating to a hold rating in a report on Wednesday, November 15th. Finally, DA Davidson reaffirmed a hold rating and set a $68.00 price objective on shares of Jacobs Engineering Group in a report on Wednesday, November 22nd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have given a hold rating and seven 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 $71.73.
Jacobs Engineering Group (JEC) opened at $69.46 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a market cap of $9,880.00, a price-to-earnings ratio of 28.70, a price-to-earnings-growth ratio of 1.43 and a beta of 1.56. Jacobs Engineering Group has a fifty-two week low of $49.31 and a fifty-two week high of $72.18.
Jacobs Engineering Group (NYSE:JEC) last issued its quarterly earnings results on Tuesday, November 21st. The construction company reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.16. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.58 billion. Jacobs Engineering Group had a net margin of 2.93% and a return on equity of 9.18%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 EPS. sell-side analysts anticipate that Jacobs Engineering Group will post 3.73 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, February 16th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Thursday, February 15th. Jacobs Engineering Group’s dividend payout ratio (DPR) is 24.79%.
In related news, Director Joseph R. Bronson sold 6,125 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $63.01, for a total value of $385,936.25. Following the transaction, the director now directly owns 30,496 shares in the company, valued at $1,921,552.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.74% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN increased its position in shares of Jacobs Engineering Group by 68.7% in the third 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. First Quadrant L P CA increased its position in shares of Jacobs Engineering Group by 17.1% in the third quarter. First Quadrant L P CA now owns 302,358 shares of the construction company’s stock worth $17,618,000 after purchasing an additional 44,080 shares during the last quarter. Hahn Capital Management LLC increased its position in shares of Jacobs Engineering Group by 1.0% in the third quarter. Hahn Capital Management LLC now owns 668,319 shares of the construction company’s stock worth $38,943,000 after purchasing an additional 6,434 shares during the last quarter. Waters Parkerson & CO. LLC increased its position in shares of Jacobs Engineering Group by 2.5% in the third quarter. Waters Parkerson & CO. LLC now owns 213,268 shares of the construction company’s stock worth $12,427,000 after purchasing an additional 5,295 shares during the last quarter. Finally, Exane Derivatives bought a new position in shares of Jacobs Engineering Group in the third quarter worth approximately $789,000. Institutional investors own 72.22% of the company’s stock.
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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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