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Jacobs' (JEC) NJDOT Contract Win to Boost Organic Growth
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Jacobs Engineering Group Inc. recently secured a contract from the New Jersey Department of Transportation (‘NJDOT’), for an undisclosed amount. Per the new deal, the company would be offering construction inspection services for the Smart Moves 2015 – North program.
Jacobs’ stock is currently performing better than most of its peers. Post fourth-quarter fiscal 2016 (Nov 22, 2016) release, the company’s shares recorded an average return of 1.97%, outperforming 1.56% returns offered by the Zacks categorized Engineering/R&D Services industry.
NJDOT Deal Insights
Per the NJDOT contract, Jacobs would be providing inspection services in the townships of Clinton, Parsippany – Troy Hills, City of Newark and West Milford. Also, similar services would be offered in the counties of New Jersey, Hunterdon, Passaic, Morris and Essex.
The Smart Moves 2015 – North program includes the installation of two truck safety warnings systems, a dynamic message system on Route 23 and a camera surveillance system on I-78. During the term, commuter and alternative business travel options as well as intermodal connections would be developed, implemented, promoted and monitored. Moreover, a network of cameras would be used for identifying accidents and deploying emergency services for alerting motorists of changes in the driving patterns.
Construction activity for the program began in Oct 2016 and is anticipated to be completed by Mar 2018.
Our Take
Jacobs currently carries a Zacks Rank #3 (Hold). The company intends to improve its performance by streamlining operations, reducing costs and managing working capital more efficiently. In addition, it intends to reward shareholders with lucrative buyback offers. However, headwinds like unfavorable commodity and energy prices, along with a stronger U.S. dollar raise concerns.
However, we believe that Jacobs’ stock still looks promising amid existing market headwinds.
Stocks to Consider
Better-ranked stocks in the industry include Willdan Group, Inc. (WLDN - Free Report) , MasTec, Inc. (MTZ - Free Report) and Comfort Systems USA, Inc. (FIX - Free Report) .
Willdan Group, Inc. has an average positive earnings surprise of 18.72% for the last four trailing quarters. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
MasTec, Inc. currently carries a Zacks Rank #2 (Buy). The company’s average positive earnings surprise is 61.27% for the trailing four quarters.
Comfort Systems USA, Inc. currently has a Zacks Rank #2. The company’s average positive earnings surprise is 15.83% for the trailing four quarters.
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Jacobs' (JEC) NJDOT Contract Win to Boost Organic Growth
Jacobs Engineering Group Inc. recently secured a contract from the New Jersey Department of Transportation (‘NJDOT’), for an undisclosed amount. Per the new deal, the company would be offering construction inspection services for the Smart Moves 2015 – North program.
Jacobs’ stock is currently performing better than most of its peers. Post fourth-quarter fiscal 2016 (Nov 22, 2016) release, the company’s shares recorded an average return of 1.97%, outperforming 1.56% returns offered by the Zacks categorized Engineering/R&D Services industry.
NJDOT Deal Insights
Per the NJDOT contract, Jacobs would be providing inspection services in the townships of Clinton, Parsippany – Troy Hills, City of Newark and West Milford. Also, similar services would be offered in the counties of New Jersey, Hunterdon, Passaic, Morris and Essex.
The Smart Moves 2015 – North program includes the installation of two truck safety warnings systems, a dynamic message system on Route 23 and a camera surveillance system on I-78. During the term, commuter and alternative business travel options as well as intermodal connections would be developed, implemented, promoted and monitored. Moreover, a network of cameras would be used for identifying accidents and deploying emergency services for alerting motorists of changes in the driving patterns.
Construction activity for the program began in Oct 2016 and is anticipated to be completed by Mar 2018.
Our Take
Jacobs currently carries a Zacks Rank #3 (Hold). The company intends to improve its performance by streamlining operations, reducing costs and managing working capital more efficiently. In addition, it intends to reward shareholders with lucrative buyback offers. However, headwinds like unfavorable commodity and energy prices, along with a stronger U.S. dollar raise concerns.
However, we believe that Jacobs’ stock still looks promising amid existing market headwinds.
Stocks to Consider
Better-ranked stocks in the industry include Willdan Group, Inc. (WLDN - Free Report) , MasTec, Inc. (MTZ - Free Report) and Comfort Systems USA, Inc. (FIX - Free Report) .
Willdan Group, Inc. has an average positive earnings surprise of 18.72% for the last four trailing quarters. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
MasTec, Inc. currently carries a Zacks Rank #2 (Buy). The company’s average positive earnings surprise is 61.27% for the trailing four quarters.
Comfort Systems USA, Inc. currently has a Zacks Rank #2. The company’s average positive earnings surprise is 15.83% for the trailing four quarters.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>