Jacobs Solutions (NYSE:J) Authorizes Share Buyback Program

Jacobs Solutions (NYSE:J) announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 4th, RTT News reports. The company plans to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

J has been the topic of several recent analyst reports. Robert W. Baird increased their price objective on shares of Jacobs Solutions from $147.00 to $149.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Truist Financial increased their price target on shares of Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. The Goldman Sachs Group reissued a “neutral” rating and set a $150.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 10th. StockNews.com assumed coverage on shares of Jacobs Solutions in a research report on Wednesday, December 4th. They set a “hold” rating for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $152.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Jacobs Solutions currently has an average rating of “Moderate Buy” and an average target price of $156.00.

Jacobs Solutions Stock Down 3.5 %

NYSE:J traded down $4.89 on Tuesday, reaching $133.89. The stock had a trading volume of 2,096,552 shares, compared to its average volume of 738,833. Jacobs Solutions has a 12-month low of $110.95 and a 12-month high of $150.54. The stock has a market cap of $16.61 billion, a P/E ratio of 21.15, a price-to-earnings-growth ratio of 2.11 and a beta of 0.72. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average of $136.77 and a 200 day moving average of $141.29.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. Jacobs Solutions had a return on equity of 14.82% and a net margin of 5.16%. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the business posted $1.45 earnings per share. Jacobs Solutions’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, research analysts predict that Jacobs Solutions will post 6.06 earnings per share for the current year.

Jacobs Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 21st will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Friday, February 21st. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s payout ratio is 18.33%.

About Jacobs Solutions

Jacobs Solutions Inc provides consulting, technical, engineering, scientific, and project delivery services for the government and private sectors in the United States, Europe, Canada, India, Asia, Australia, New Zealand, the Middle East, and Africa. It operates through Critical Mission Solutions, People & Places Solutions, Divergent Solutions, and PA Consulting segments.