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Bull of the Day: Infrastructure and Energy Alternatives (IEA)

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The stock market is showing its strength right now. The additional stimulus checks sent out by the government are certainly helping. It’s a shot in the arm to an economy going through a transition. At the same time this paradigm shift has taken place, there is a transition on Capitol Hill. A new Presidential administration along with a shift in Congressional power could mean new economic policies. While some dread what may come down in the pipe in terms of tax reforms, others are excited at the prospects of new opportunities.

Mark me down for the one excited about new opportunities. Today’s Bull of the Day is a company in a very opportunistic industry. It’s Zacks Rank #1 (Strong Buy) Infrastructure and Energy Alternatives (IEA - Free Report) .

Infrastructure and Energy Alternatives, Inc., through various subsidiaries, operates as a diversified infrastructure construction company in the United States. The company engages in providing engineering, procurement, and construction (EPC) services for the renewable energy, traditional power, and civil infrastructure industries. It operates in two segments, the Renewables and the Specialty Civil.

The reason for the favorable Zacks Rank is a huge jump in earnings estimates. Current year Zacks Consensus Estimates call for a 19-cent loss. But next year, that number is estimated to jump all the way up to 39 cents EPS. That’s up from a 32-cent Zacks Consensus Estimate just sixty days ago. That bullish move upwards in consensus is a big part of our Zacks Rank calculation and is the main reason why this stock is currently a Zacks Rank #1 (Strong Buy).

The last couple quarters have brought earnings surprises for the company. Last quarter’s EPS Surprise came in at 32 cents, far surpassing the Zacks Consensus Estimate for 16 cents EPS. The quarter before that, the company reported a surprise profit, with EPS coming in at 9 cents versus bearish expectations calling for a 4-cent loss.

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