Jacobs Solutions (NYSE:J) Announces Stock Buyback Program

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

Jacobs Solutions Stock Performance

Shares of Jacobs Solutions stock opened at $133.89 on Wednesday. Jacobs Solutions has a 12 month low of $110.95 and a 12 month high of $150.54. The firm has a market capitalization of $16.61 billion, a P/E ratio of 21.15, a P/E/G 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 business has a fifty day simple moving average of $136.77 and a two-hundred day simple moving average of $141.29.

Jacobs Solutions (NYSE:J) last released its earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share (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 firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period last year, the business earned $1.45 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. On average, equities analysts forecast that Jacobs Solutions will post 6.06 earnings per share for the current fiscal 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 paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s dividend payout ratio is currently 18.33%.

Analyst Ratings Changes

Several research firms have recently weighed in on J. The Goldman Sachs Group restated a “neutral” rating and set a $150.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Benchmark downgraded Jacobs Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. StockNews.com started coverage on Jacobs Solutions in a research note on Wednesday, December 4th. They set a “hold” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $152.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Finally, Robert W. Baird boosted their target price on Jacobs Solutions from $147.00 to $149.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $156.00.

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.