Brokers Set Expectations for Jacobs Engineering Group Inc’s FY2018 Earnings (JEC)
Jacobs Engineering Group Inc (NYSE:JEC) – Equities research analysts at KeyCorp increased their FY2018 EPS estimates for Jacobs Engineering Group in a research note issued to investors on Thursday. KeyCorp analyst T. Afzal now forecasts that the construction company will post earnings per share of $4.14 for the year, up from their previous forecast of $3.84. KeyCorp has a “Overweight” rating and a $75.00 price objective on the stock. KeyCorp also issued estimates for Jacobs Engineering Group’s FY2019 earnings at $4.95 EPS.
JEC has been the subject of several other research reports. Zacks Investment Research cut Jacobs Engineering Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 23rd. ValuEngine cut Jacobs Engineering Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Credit Suisse Group reissued an “outperform” rating and set a $82.00 price objective on shares of Jacobs Engineering Group in a research report on Thursday, January 18th. Bank of America boosted their price objective on Jacobs Engineering Group from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Finally, Citigroup set a $64.00 price objective on Jacobs Engineering Group and gave the stock a “hold” rating in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $74.00.
Jacobs Engineering Group (NYSE:JEC) last announced its quarterly earnings results on Wednesday, February 7th. The construction company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year.
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 paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $0.60 annualized dividend and a yield of 0.97%. Jacobs Engineering Group’s dividend payout ratio is 30.77%.
In related news, Director Joseph R. Bronson sold 6,125 shares of the business’s 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 transaction, the director now directly owns 30,496 shares in the company, valued at $1,921,552.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.74% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of JEC. GSA Capital Partners LLP bought a new position in Jacobs Engineering Group during the second quarter valued at about $225,000. Advisor Group Inc. increased its stake in Jacobs Engineering Group by 18.8% during the second quarter. Advisor Group Inc. now owns 2,140 shares of the construction company’s stock valued at $117,000 after acquiring an additional 339 shares during the period. Stifel Financial Corp increased its stake in Jacobs Engineering Group by 31.9% during the second quarter. Stifel Financial Corp now owns 12,135 shares of the construction company’s stock valued at $662,000 after acquiring an additional 2,936 shares during the period. Janus Henderson Group PLC increased its stake in Jacobs Engineering Group by 198.1% during the second quarter. Janus Henderson Group PLC now owns 33,217 shares of the construction company’s stock valued at $1,807,000 after acquiring an additional 22,074 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Jacobs Engineering Group by 3.5% during the second quarter. The Manufacturers Life Insurance Company now owns 142,459 shares of the construction company’s stock valued at $7,749,000 after acquiring an additional 4,835 shares during the period. Hedge funds and other institutional investors own 71.51% of the company’s stock.
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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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