AECOM Technology Corp. (ACM - Analyst Report) recently won a $148-million worth, three-year contract to provide construction-supervision and design-review services for part of the Doha Expressway program in Qatar, and the work will start immediately. The expressway will primarily be connecting Al Khor city with Mesaieed.
The agreement includes construction of a 105-mile expressway that will help in the easy movement of sea freight into and out of the New Port Project in Doha. In addition, the expressway will also facilitate trucks and delivery vehicles to move around the city. Aecom’s management is very optimistic about this project.
The contract will be included in Aecom’s Professional Technical Services segment that primarily involves planning, consulting, architectural and engineering design, and program and construction management services to commercial and government clients worldwide in major end markets such as transportation, facilities, environmental, energy, water and government markets. In the last reported quarter, the segment reported revenue growth of 5.8% with a backlog of $14.0 million.
Based in Los Angeles, CA, Aecom is a global provider of professional technical and management support services to a broad range of markets, including transportation, facilities, environmental and energy. The company's Management Support Services segment offers management and maintenance, training, logistics, consulting, technical assistance, and systems integration services primarily to the agencies of the United States government.
Aecom currently carries a Zacks Rank #3 (Hold). Other stocks to watch out for in the construction sector are Michael Baker Corporation , carrying a Zacks Rank #1 (Strong Buy), and Harris & Harris Group, Inc. and Orion Marine Group Inc. (ORN - Snapshot Report), each carrying a Zacks Rank #2 (Buy).