We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Jacobs (J) Inks Contract to Improve Sydney Rail Network
Read MoreHide Full Article
Jacobs Engineering Group Inc. (J - Free Report) along with Australian rail group John Holland has been selected by Transport for New South Wales (TfNSW) to deliver design and construction services for the More Trains, More Services - North Works Package project.
The project — worth approximately $195 million — comprises upgrade of critical infrastructure along T4 Illawarra, T8 Airport and South Coast lines between Central and Hurstville in Sydney. This will support the roll out of new suburban and intercity trains, remove bottlenecks, as well as increase the frequency of services for Sydney rail customers.
TfNSW expects the project construction to commence in mid-2020. The New South Wales Government's More Trains, More Services program will modernize Sydney's rail network over the next 10 years. The program will also roll out best-in-class technology to alter the rail network and deliver customers with more high capacity train services.
Jacobs is entitled to deliver rail design and construction support services for the project.
It provides a wide array of professional services that include consulting, technical, scientific and project delivery for the government and private sectors. The company’s solid backlog level reflects persistently strong demand for consulting services.
In fact, backlog at fiscal second quarter-end was $23.3 billion, reflecting an increase of 12.5% year over year (up 5% on a pro-forma basis). The Critical Mission Solutions segment’s backlog grew 25.4% year over year to $9.1 billion in the fiscal second quarter, which provides strong visibility into the base business. The company’s overall 2021 sales pipeline of more than $37 billion remains robust. This segment is benefiting from well-funded government programs and cyber, mission-IT, space, as well as 5G-related projects. Meanwhile, the People & Places Solutions segment’s backlog was up 5.4% year over year in the quarter to $14.2 billion. Overall, the backlog growth can be attributed to the company’s capitalizing on CH2M and KeyW revenue synergies.
Jacobs’ shares have outperformed the industry in the year-to-date period. The price performance is backed by an impressive earnings surprise history. The company surpassed earnings estimates in nine of the trailing 11 quarters.
AECOM’s 2020 earnings estimates have increased 4% over the past 60 days.
Gates Industrial’s earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters, with an average surprise of 8.7%.
ChampionX’s 2021 earnings are expected to grow 70%.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.1% per year.
These 7 were selected because of their superior potential for immediate breakout.
Image: Bigstock
Jacobs (J) Inks Contract to Improve Sydney Rail Network
Jacobs Engineering Group Inc. (J - Free Report) along with Australian rail group John Holland has been selected by Transport for New South Wales (TfNSW) to deliver design and construction services for the More Trains, More Services - North Works Package project.
The project — worth approximately $195 million — comprises upgrade of critical infrastructure along T4 Illawarra, T8 Airport and South Coast lines between Central and Hurstville in Sydney. This will support the roll out of new suburban and intercity trains, remove bottlenecks, as well as increase the frequency of services for Sydney rail customers.
TfNSW expects the project construction to commence in mid-2020. The New South Wales Government's More Trains, More Services program will modernize Sydney's rail network over the next 10 years. The program will also roll out best-in-class technology to alter the rail network and deliver customers with more high capacity train services.
Jacobs is entitled to deliver rail design and construction support services for the project.
It provides a wide array of professional services that include consulting, technical, scientific and project delivery for the government and private sectors. The company’s solid backlog level reflects persistently strong demand for consulting services.
In fact, backlog at fiscal second quarter-end was $23.3 billion, reflecting an increase of 12.5% year over year (up 5% on a pro-forma basis). The Critical Mission Solutions segment’s backlog grew 25.4% year over year to $9.1 billion in the fiscal second quarter, which provides strong visibility into the base business. The company’s overall 2021 sales pipeline of more than $37 billion remains robust. This segment is benefiting from well-funded government programs and cyber, mission-IT, space, as well as 5G-related projects. Meanwhile, the People & Places Solutions segment’s backlog was up 5.4% year over year in the quarter to $14.2 billion. Overall, the backlog growth can be attributed to the company’s capitalizing on CH2M and KeyW revenue synergies.
Jacobs’ shares have outperformed the industry in the year-to-date period. The price performance is backed by an impressive earnings surprise history. The company surpassed earnings estimates in nine of the trailing 11 quarters.
Zacks Rank & Key Picks
Jacobs — which shares space with AECOM (ACM - Free Report) , Gates Industrial Corporation PLC (GTES - Free Report) and ChampionX Corporation (CHX - Free Report) in the same industry — currently carries a Zacks Rank #4 (Sell). AECOM, Gates Industrial and ChampionX carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AECOM’s 2020 earnings estimates have increased 4% over the past 60 days.
Gates Industrial’s earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters, with an average surprise of 8.7%.
ChampionX’s 2021 earnings are expected to grow 70%.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.1% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>