Share Repurchase Plan Announced by Jacobs Solutions (NYSE:J) Board of Directors

Jacobs Solutions (NYSE:J - Get Free Report) declared that its Board of Directors 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 repurchase up to 9% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Jacobs Solutions Price Performance

J traded up $0.49 on Friday, reaching $133.97. The stock had a trading volume of 767,521 shares, compared to its average volume of 785,657. Jacobs Solutions has a fifty-two week low of $110.95 and a fifty-two week high of $150.54. The firm has a 50-day moving average of $136.17 and a 200-day moving average of $140.97. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $16.42 billion, a price-to-earnings ratio of 27.62, a price-to-earnings-growth ratio of 1.88 and a beta of 0.72.

Jacobs Solutions (NYSE:J - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.29 by $0.04. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the previous year, the company posted $1.45 EPS. The business's revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Jacobs Solutions will post 6.05 EPS for the current year.

Jacobs Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 21st will be given a dividend of $0.32 per share. 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. This represents a $1.28 annualized dividend and a dividend yield of 0.96%. Jacobs Solutions's dividend payout ratio is presently 23.92%.

Analyst Upgrades and Downgrades

J has been the subject of several research analyst reports. Citigroup reduced their target price on Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Robert W. Baird dropped their price objective on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday. Truist Financial lifted their price objective on Jacobs Solutions from $137.00 to $142.00 and gave the company a "hold" rating in a report on Thursday, December 19th. Benchmark cut Jacobs Solutions from a "buy" rating to a "hold" rating in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $150.00 price target on shares of Jacobs Solutions in a report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $155.89.

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.