Analysts Anticipate Jacobs Engineering Group Inc (JEC) Will Post Quarterly Sales of $3.12 Billion
Equities research analysts forecast that Jacobs Engineering Group Inc (NYSE:JEC) will post $3.12 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Jacobs Engineering Group’s earnings, with estimates ranging from $3.01 billion to $3.27 billion. Jacobs Engineering Group reported sales of $3.94 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 20.8%. The firm is expected to report its next quarterly earnings report before the market opens on Tuesday, May 7th.
According to Zacks, analysts expect that Jacobs Engineering Group will report full-year sales of $12.62 billion for the current financial year, with estimates ranging from $12.47 billion to $12.79 billion. For the next financial year, analysts expect that the company will report sales of $13.12 billion, with estimates ranging from $12.82 billion to $13.39 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Jacobs Engineering Group.
Jacobs Engineering Group (NYSE:JEC) last posted its quarterly earnings data on Wednesday, February 6th. The construction company reported $1.14 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. The company’s revenue for the quarter was up 72.9% compared to the same quarter last year.
In other Jacobs Engineering Group news, SVP Michael R. Tyler sold 15,792 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $71.25, for a total value of $1,125,180.00. Following the sale, the senior vice president now owns 30,826 shares in the company, valued at approximately $2,196,352.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Michael R. Tyler sold 765 shares of the company’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $65.07, for a total value of $49,778.55. Following the completion of the sale, the senior vice president now owns 27,826 shares in the company, valued at approximately $1,810,637.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,889 shares of company stock worth $2,688,936. Insiders own 0.92% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Gulf International Bank UK Ltd boosted its position in Jacobs Engineering Group by 1.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 27,435 shares of the construction company’s stock worth $2,062,000 after purchasing an additional 500 shares in the last quarter. Country Trust Bank purchased a new stake in Jacobs Engineering Group in the 1st quarter worth approximately $875,000. Gemmer Asset Management LLC purchased a new stake in Jacobs Engineering Group in the 1st quarter worth approximately $151,000. South Texas Money Management Ltd. purchased a new position in shares of Jacobs Engineering Group during the 1st quarter valued at approximately $211,000. Finally, Shine Investment Advisory Services Inc. lifted its position in shares of Jacobs Engineering Group by 162.8% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 4,463 shares of the construction company’s stock valued at $336,000 after buying an additional 2,765 shares in the last quarter. Institutional investors and hedge funds own 88.94% of the company’s stock.
Shares of NYSE:JEC opened at $80.33 on Wednesday. Jacobs Engineering Group has a twelve month low of $55.17 and a twelve month high of $82.24. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.58 and a current ratio of 1.58. The company has a market capitalization of $10.98 billion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 1.45 and a beta of 1.45.
Jacobs Engineering Group announced that its board has approved a stock buyback program on Thursday, January 17th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 11.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
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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