According to Zacks, “Dismal pricing conditions prevailing in the global commodity and energy markets have been hurting Jacobs’ three major line-of-business revenues. Also, a stronger U.S. dollar is weighing over the international top- and bottom-line performances of Jacobs. This is because the U.S. currency appreciation is making the services of the company more expensive and less competent in the foreign markets. Moreover, stiff industry rivalry is augmenting the bargaining power of end-users and hence enhancing market share loss risks for the company. Notably, the maintenance and construction sites of the company are subject to certain risks related to safety issues.”
Several other analysts have also issued reports on the company. MKM Partners assumed coverage on Jacobs Engineering Group in a report on Wednesday, June 29th. They set a neutral rating and a $49.00 target price on the stock. Citigroup Inc. reiterated a buy rating on shares of Jacobs Engineering Group in a report on Tuesday, July 26th. DA Davidson upped their target price on Jacobs Engineering Group from $63.00 to $65.00 and gave the stock a buy rating in a report on Wednesday, August 10th. Deutsche Bank AG upped their target price on Jacobs Engineering Group from $53.00 to $54.00 and gave the stock a hold rating in a report on Wednesday, August 10th. Finally, Jefferies Group reiterated a buy rating and set a $54.00 target price on shares of Jacobs Engineering Group in a report on Wednesday, August 10th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. Jacobs Engineering Group currently has an average rating of Hold and a consensus target price of $48.52.
Jacobs Engineering Group (NYSE:JEC) traded up 0.71% during mid-day trading on Tuesday, reaching $50.94. The company’s stock had a trading volume of 127,893 shares. The company has a 50 day moving average of $51.21 and a 200-day moving average of $50.12. Jacobs Engineering Group has a 52-week low of $34.76 and a 52-week high of $55.89. The stock has a market cap of $6.19 billion, a PE ratio of 29.53 and a beta of 1.68.
Jacobs Engineering Group (NYSE:JEC) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.79 billion. Jacobs Engineering Group had a return on equity of 8.58% and a net margin of 1.84%. The company’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.97 earnings per share. Equities analysts forecast that Jacobs Engineering Group will post $3.08 earnings per share for the current year.
In other Jacobs Engineering Group news, insider Terence D. Hagen sold 18,639 shares of the company’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $54.73, for a total transaction of $1,020,112.47. Following the completion of the sale, the insider now directly owns 27,022 shares in the company, valued at $1,478,914.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Noel G. Watson sold 66,668 shares of the company’s stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $51.71, for a total value of $3,447,402.28. Following the sale, the director now owns 736,669 shares of the company’s stock, valued at $38,093,153.99. The disclosure for this sale can be found here. Corporate insiders own 3.16% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in JEC. Integrated Investment Consultants LLC boosted its stake in Jacobs Engineering Group by 2.1% in the second quarter. Integrated Investment Consultants LLC now owns 2,048 shares of the company’s stock valued at $102,000 after buying an additional 42 shares during the last quarter. Suntrust Banks Inc. boosted its stake in Jacobs Engineering Group by 0.3% in the second quarter. Suntrust Banks Inc. now owns 19,544 shares of the company’s stock valued at $972,000 after buying an additional 63 shares during the last quarter. LPL Financial LLC boosted its stake in Jacobs Engineering Group by 0.3% in the first quarter. LPL Financial LLC now owns 25,460 shares of the company’s stock valued at $1,080,000 after buying an additional 64 shares during the last quarter. Parametrica Management Ltd boosted its stake in Jacobs Engineering Group by 1.5% in the third quarter. Parametrica Management Ltd now owns 4,361 shares of the company’s stock valued at $226,000 after buying an additional 64 shares during the last quarter. Finally, World Asset Management Inc boosted its stake in Jacobs Engineering Group by 0.6% in the second quarter. World Asset Management Inc now owns 11,383 shares of the company’s stock valued at $567,000 after buying an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.
Jacobs Engineering Group Company Profile
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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