Jacobs Engineering Group Inc. to Post FY2017 Earnings of $3.05 Per Share, Jefferies Group Forecasts (NYSE:JEC)
Jacobs Engineering Group Inc. (NYSE:JEC) – Analysts at Jefferies Group decreased their FY2017 earnings per share estimates for Jacobs Engineering Group in a research report issued on Wednesday. Jefferies Group analyst M. Englert now expects that the construction company will earn $3.05 per share for the year, down from their prior forecast of $3.10. Jefferies Group has a “Hold” rating and a $61.00 price objective on the stock. Jefferies Group also issued estimates for Jacobs Engineering Group’s FY2018 earnings at $3.33 EPS.
Jacobs Engineering Group (NYSE:JEC) last issued its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.79 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.79. Jacobs Engineering Group had a return on equity of 8.67% and a net margin of 2.29%. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the firm posted $0.78 EPS. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. COPYRIGHT VIOLATION WARNING: This story was published by Watch List News and is the property of of Watch List News. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright law. The original version of this story can be read at https://www.watchlistnews.com/jacobs-engineering-group-inc-to-post-fy2017-earnings-of-3-05-per-share-jefferies-group-forecasts-nysejec/1472282.html.
A number of other analysts have also commented on the stock. BidaskClub lowered shares of Jacobs Engineering Group from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Credit Suisse Group reissued a “buy” rating and issued a $69.00 price objective on shares of Jacobs Engineering Group in a research report on Friday, April 21st. Robert W. Baird reissued a “neutral” rating and issued a $64.00 price objective (up previously from $62.00) on shares of Jacobs Engineering Group in a research report on Friday, May 12th. Citadel Securities lowered shares of Jacobs Engineering Group from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $62.00 to $66.00 in a research report on Tuesday. Finally, Citigroup Inc. lowered shares of Jacobs Engineering Group from a “buy” rating to a “neutral” rating and set a $62.00 price objective on the stock. in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $61.64.
Shares of Jacobs Engineering Group (JEC) traded up 0.27% on Friday, hitting $52.82. The company had a trading volume of 197,636 shares. The stock has a market cap of $6.36 billion, a PE ratio of 28.10 and a beta of 1.52. Jacobs Engineering Group has a 12 month low of $49.15 and a 12 month high of $63.42. The company has a 50-day moving average of $53.51 and a 200 day moving average of $54.85.
A number of institutional investors have recently modified their holdings of JEC. BlackRock Inc. increased its position in shares of Jacobs Engineering Group by 2,990.4% in the first quarter. BlackRock Inc. now owns 7,894,069 shares of the construction company’s stock worth $436,383,000 after buying an additional 7,638,632 shares during the last quarter. Wells Fargo & Company MN increased its position in Jacobs Engineering Group by 373.8% in the second quarter. Wells Fargo & Company MN now owns 2,377,957 shares of the construction company’s stock valued at $129,336,000 after buying an additional 1,876,081 shares in the last quarter. AQR Capital Management LLC increased its position in Jacobs Engineering Group by 50.2% in the first quarter. AQR Capital Management LLC now owns 2,653,141 shares of the construction company’s stock valued at $146,665,000 after buying an additional 886,230 shares in the last quarter. American Century Companies Inc. bought a new position in Jacobs Engineering Group during the first quarter valued at approximately $47,022,000. Finally, Primecap Management Co. CA increased its position in Jacobs Engineering Group by 7.8% in the first quarter. Primecap Management Co. CA now owns 8,258,797 shares of the construction company’s stock valued at $456,546,000 after buying an additional 599,550 shares in the last quarter. Institutional investors and hedge funds own 87.41% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 4th will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, August 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 1.14%. Jacobs Engineering Group’s payout ratio is 31.75%.
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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