KeyCorp Equities Analysts Increase Earnings Estimates for Jacobs Engineering Group Inc (JEC)
Jacobs Engineering Group Inc (NYSE:JEC) – Analysts at KeyCorp lifted their FY2018 EPS estimates for Jacobs Engineering Group in a research report issued on Wednesday. KeyCorp analyst T. Afzal now anticipates that the construction company will post earnings of $3.84 per share for the year, up from their prior estimate of $3.50. 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 $4.62 EPS.
Jacobs Engineering Group (NYSE:JEC) last posted its earnings results on Tuesday, November 21st. The construction company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.16. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Jacobs Engineering Group had a net margin of 2.93% and a return on equity of 9.18%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 earnings per share.
JEC has been the subject of a number of other research reports. Robert W. Baird reiterated a “hold” rating and issued a $63.00 price objective on shares of Jacobs Engineering Group in a report on Friday, October 6th. Zacks Investment Research lowered shares of Jacobs Engineering Group from a “buy” rating to a “hold” rating in a report on Thursday, November 23rd. ValuEngine lowered shares of Jacobs Engineering Group from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Citigroup set a $64.00 price objective on shares of Jacobs Engineering Group and gave the company a “hold” rating in a report on Friday, October 27th. Finally, DA Davidson reissued a “hold” rating and set a $68.00 target price on shares of Jacobs Engineering Group in a research report on Wednesday, November 22nd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $69.10.
Jacobs Engineering Group (NYSE JEC) traded up $0.10 during mid-day trading on Monday, hitting $67.81. 735,389 shares of the stock were exchanged, compared to its average volume of 1,073,271. The company has a market capitalization of $8,170.00, a PE ratio of 28.02, a P/E/G ratio of 1.44 and a beta of 1.56. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.56 and a quick ratio of 1.56. Jacobs Engineering Group has a 52-week low of $49.31 and a 52-week high of $69.35.
In other news, Director Joseph R. Bronson sold 6,125 shares of the firm’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 transaction of $385,936.25. Following the completion of 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 SEC, which is accessible through this link. Company insiders own 0.74% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of JEC. Swiss National Bank lifted its stake in Jacobs Engineering Group by 2.9% during the 2nd quarter. Swiss National Bank now owns 441,043 shares of the construction company’s stock valued at $23,988,000 after acquiring an additional 12,500 shares in the last quarter. First Quadrant L P CA lifted its stake in Jacobs Engineering Group by 17.1% during the 3rd quarter. First Quadrant L P CA now owns 302,358 shares of the construction company’s stock valued at $17,618,000 after acquiring an additional 44,080 shares in the last quarter. Hahn Capital Management LLC lifted its stake in Jacobs Engineering Group by 1.0% during the 3rd quarter. Hahn Capital Management LLC now owns 668,319 shares of the construction company’s stock valued at $38,943,000 after acquiring an additional 6,434 shares in the last quarter. Exane Derivatives bought a new position in Jacobs Engineering Group during the 3rd quarter valued at $789,000. Finally, Waters Parkerson & CO. LLC lifted its stake in Jacobs Engineering Group by 2.5% during the 3rd quarter. Waters Parkerson & CO. LLC now owns 213,268 shares of the construction company’s stock valued at $12,427,000 after acquiring an additional 5,295 shares in the last quarter. 84.57% of the stock is owned by institutional investors and hedge funds.
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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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