Jacobs Engineering Group (JEC) Price Target Raised to $86.00 at KeyCorp

Jacobs Engineering Group (NYSE:JEC) had its target price boosted by KeyCorp from $82.00 to $86.00 in a research note published on Wednesday, May 8th, BenzingaRatingsTable reports. KeyCorp currently has an overweight rating on the construction company’s stock. KeyCorp also issued estimates for Jacobs Engineering Group’s Q3 2019 earnings at $1.18 EPS, Q4 2019 earnings at $1.22 EPS, FY2019 earnings at $4.58 EPS, FY2020 earnings at $5.31 EPS and FY2021 earnings at $6.18 EPS.

A number of other brokerages have also issued reports on JEC. Zacks Investment Research raised Jacobs Engineering Group from a sell rating to a buy rating and set a $88.00 price target on the stock in a research note on Tuesday, April 23rd. DA Davidson decreased their price target on Jacobs Engineering Group to $86.00 and set a buy rating on the stock in a research note on Thursday, February 7th. Barclays reissued an overweight rating and issued a $85.00 price target on shares of Jacobs Engineering Group in a research note on Tuesday, April 30th. MKM Partners raised their price target on Jacobs Engineering Group to $87.00 and gave the stock a buy rating in a research note on Tuesday, February 26th. Finally, Argus reissued a buy rating and issued a $68.72 price target (down from $84.00) on shares of Jacobs Engineering Group in a research note on Tuesday, February 19th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $84.55.

Jacobs Engineering Group stock opened at $75.29 on Wednesday. The stock has a market cap of $10.09 billion, a P/E ratio of 16.84, a P/E/G ratio of 1.31 and a beta of 1.44. Jacobs Engineering Group has a 52 week low of $55.17 and a 52 week high of $82.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.52 and a quick ratio of 1.52.

Jacobs Engineering Group (NYSE:JEC) last posted its quarterly earnings data on Tuesday, May 7th. The construction company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.10. Jacobs Engineering Group had a return on equity of 11.16% and a net margin of 2.13%. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the business posted $1.00 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Jacobs Engineering Group will post 4.69 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.68 annualized dividend and a yield of 0.90%. Jacobs Engineering Group’s dividend payout ratio is presently 15.21%.

In other Jacobs Engineering Group news, COO Terence D. Hagen sold 12,000 shares of Jacobs Engineering Group stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $75.50, for a total transaction of $906,000.00. Following the sale, the chief operating officer now directly owns 74,775 shares in the company, valued at approximately $5,645,512.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael R. Tyler sold 676 shares of Jacobs Engineering Group stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $74.67, for a total value of $50,476.92. Following the sale, the senior vice president now owns 27,150 shares in the company, valued at $2,027,290.50. The disclosure for this sale can be found here. Insiders have sold a total of 23,982 shares of company stock worth $1,820,176 over the last 90 days. 0.92% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of JEC. Vanguard Group Inc boosted its position in Jacobs Engineering Group by 0.8% during the 3rd quarter. Vanguard Group Inc now owns 13,850,966 shares of the construction company’s stock valued at $1,059,598,000 after purchasing an additional 107,375 shares during the period. Lunia Capital LP boosted its position in Jacobs Engineering Group by 9,466.9% during the 4th quarter. Lunia Capital LP now owns 9,932,705 shares of the construction company’s stock valued at $9,933,000 after purchasing an additional 9,828,881 shares during the period. BlackRock Inc. boosted its position in Jacobs Engineering Group by 1.3% during the 4th quarter. BlackRock Inc. now owns 8,488,236 shares of the construction company’s stock valued at $496,221,000 after purchasing an additional 108,339 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Jacobs Engineering Group by 5,218.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,093,344 shares of the construction company’s stock worth $104,000 after acquiring an additional 5,978,776 shares during the period. Finally, FMR LLC boosted its position in Jacobs Engineering Group by 15.5% during the 1st quarter. FMR LLC now owns 5,883,832 shares of the construction company’s stock worth $442,405,000 after acquiring an additional 791,261 shares during the period. Institutional investors and hedge funds own 94.07% of the company’s stock.

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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Analyst Recommendations for Jacobs Engineering Group (NYSE:JEC)

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