Jacobs Solutions (NYSE:J) Board Declares Share Repurchase Plan

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

Jacobs Solutions Stock Performance

Shares of NYSE J opened at $133.46 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.30. Jacobs Solutions has a 12 month low of $110.95 and a 12 month high of $150.54. The company has a 50 day simple moving average of $136.46 and a two-hundred day simple moving average of $141.13. The stock has a market cap of $16.55 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 2.11 and a beta of 0.72.

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

Jacobs Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 21st will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.96%. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, February 21st. Jacobs Solutions’s payout ratio is 18.33%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Robert W. Baird dropped their target price on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday. Benchmark lowered shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Royal Bank of Canada reissued an “outperform” rating and set a $152.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Citigroup decreased their price target on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $150.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Jacobs Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $155.89.

Jacobs Solutions Company Profile

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.