Jacobs Engineering Group Inc (NYSE:JEC) – Investment analysts at KeyCorp raised their FY2020 earnings per share (EPS) estimates for shares of Jacobs Engineering Group in a research note issued on Tuesday, April 23rd. KeyCorp analyst T. Afzal now forecasts that the construction company will earn $5.95 per share for the year, up from their prior forecast of $5.29.
Jacobs Engineering Group (NYSE:JEC) last posted its earnings results on Wednesday, February 6th. The construction company reported $1.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.09. Jacobs Engineering Group had a net margin of 1.96% and a return on equity of 10.57%. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter last year, the firm earned $0.77 EPS. The firm’s revenue for the quarter was up 72.9% on a year-over-year basis.
NYSE:JEC opened at $78.98 on Friday. The firm has a market capitalization of $11.02 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.58 and a quick ratio of 1.58. Jacobs Engineering Group has a 52 week low of $55.17 and a 52 week high of $82.24.
Jacobs Engineering Group declared that its Board of Directors has approved a share repurchase program on Thursday, January 17th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the construction company to buy up to 11.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In related news, SVP Michael R. Tyler sold 656 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $76.22, for a total transaction of $50,000.32. Following the completion of the transaction, the senior vice president now owns 26,494 shares in the company, valued at $2,019,372.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Michael R. Tyler sold 765 shares of the business’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $65.07, for a total transaction of $49,778.55. Following the transaction, the senior vice president now owns 27,826 shares of the company’s stock, valued at approximately $1,810,637.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,889 shares of company stock valued at $2,688,936. Insiders own 0.92% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Citizens Financial Group Inc RI acquired a new position in shares of Jacobs Engineering Group during the fourth quarter worth $28,000. First Manhattan Co. grew its stake in shares of Jacobs Engineering Group by 115.9% during the first quarter. First Manhattan Co. now owns 462 shares of the construction company’s stock worth $34,000 after purchasing an additional 248 shares in the last quarter. CSat Investment Advisory L.P. grew its stake in shares of Jacobs Engineering Group by 86.9% during the fourth quarter. CSat Investment Advisory L.P. now owns 600 shares of the construction company’s stock worth $35,000 after purchasing an additional 279 shares in the last quarter. Ipswich Investment Management Co. Inc. acquired a new position in shares of Jacobs Engineering Group during the fourth quarter worth $47,000. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Jacobs Engineering Group by 5,218.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,093,344 shares of the construction company’s stock worth $104,000 after purchasing an additional 5,978,776 shares in the last quarter. Hedge funds and other institutional investors own 89.04% of the company’s stock.
Jacobs Engineering Group Company Profile
Jacobs Engineering Group Inc provides technical, professional, and construction services. The company's Aerospace, Technology, Environmental and Nuclear segment offers scientific, engineering, construction, nuclear, environmental, and technical support services to the aerospace, defense, technical, and automotive industries.
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