Jacobs Engineering Group Inc. (JEC) Rating Increased to Hold at Zacks Investment Research
Jacobs Engineering Group Inc. (NYSE:JEC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “Jacobs’ adjusted earnings in fiscal fourth-quarter 2016 were in line with the Zacks Consensus Estimate, however revenues fell short of the same. Dismal pricing conditions prevailing in the global commodity and energy markets have been hurting the company’s three major line-of-business’ revenues. Also, a stronger U.S. dollar has been weighing on its international top- and bottom-line performances. Moreover, strong industry rivalry is augmenting the bargaining power of end-users, which, in turn, enhances the market share loss risks for the company. However, Jacobs firmly plans to improve its performance by streamlining operations, reducing costs and managing working capital more efficiently. In addition, the company intends to reward its shareholders with lucrative share buyback offers.”
A number of other research firms also recently weighed in on JEC. TheStreet downgraded shares of Jacobs Engineering Group from a “buy” rating to a “hold” rating in a research report on Monday, October 17th. MKM Partners set a $57.00 target price on shares of Jacobs Engineering Group and gave the company a “hold” rating in a research report on Thursday, November 24th. Deutsche Bank AG lifted their price objective on shares of Jacobs Engineering Group from $50.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday, November 23rd. Credit Suisse Group AG lifted their price objective on shares of Jacobs Engineering Group from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Wednesday, November 23rd. Finally, Jefferies Group reissued a “buy” rating and issued a $54.00 price objective on shares of Jacobs Engineering Group in a research report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $51.41.
Jacobs Engineering Group (NYSE:JEC) opened at 61.72 on Monday. Jacobs Engineering Group has a 52-week low of $34.76 and a 52-week high of $62.62. The firm’s 50-day moving average is $53.57 and its 200 day moving average is $52.22. The stock has a market capitalization of $7.45 billion, a PE ratio of 35.68 and a beta of 1.61.
Jacobs Engineering Group (NYSE:JEC) last released its earnings results on Tuesday, November 22nd. The company reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. The business earned $2.64 billion during the quarter, compared to the consensus estimate of $2.78 billion. Jacobs Engineering Group had a net margin of 1.92% and a return on equity of 8.48%. The firm’s revenue for the quarter was down 15.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 earnings per share. On average, equities analysts forecast that Jacobs Engineering Group will post $3.20 earnings per share for the current year.
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In other news, Director Noel G. Watson sold 66,668 shares of the firm’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $51.71, for a total transaction of $3,447,402.28. Following the completion of the sale, the director now owns 736,669 shares in the company, valued at approximately $38,093,153.99. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.16% of the company’s stock.
Several hedge funds have recently bought and sold shares of JEC. Itau Unibanco Holding S.A. bought a new stake in Jacobs Engineering Group during the third quarter worth about $172,000. ETRADE Capital Management LLC boosted its stake in Jacobs Engineering Group by 46.8% in the third quarter. ETRADE Capital Management LLC now owns 16,047 shares of the company’s stock worth $830,000 after buying an additional 5,115 shares in the last quarter. D.A. Davidson & CO. boosted its stake in Jacobs Engineering Group by 81.5% in the third quarter. D.A. Davidson & CO. now owns 3,340 shares of the company’s stock worth $171,000 after buying an additional 1,500 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in Jacobs Engineering Group during the third quarter worth about $2,113,000. Finally, Colony Group LLC bought a new stake in Jacobs Engineering Group during the third quarter worth about $7,686,000. Institutional investors own 86.63% of the company’s stock.
About Jacobs Engineering Group
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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