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Jacobs (J) to Design a 10-storey IMHC in Western Sydney
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Jacobs Engineering Group Inc. (J - Free Report) is set to design a new mental health facility in Western Sydney, Australia, for Health Infrastructure New South Wales.
Per the contract, Jacobs will offer architectural design and health planning services, including a new 10-storey, contemporary Integrated Mental Health Complex (IMHC) at Westmead Health Precinct.
Post-completion, this 10-storey building will be one of the tallest IMHCs in the world, with some unique considerations.
Jacobs' architecture and planning teams will have to deliver safe, therapeutic spaces while considering consumers’ privacy and a valuable connection to the outdoors.
Image Source: Zacks Investment Research
J’s shares gained 2.36% on Jul 11 and 7.3% in the past month versus the Zacks Technology Services industry’s 1.2% decline. Earnings estimates for fiscal 2023 suggest 6.1% year-over-year growth on 7.6% higher revenues.
Solid Project Execution to Drive Growth
Jacobs is witnessing a rising demand for infrastructure, water, environment, space, broadband, cybersecurity and life sciences consulting services. It has also been creating smart and connected spaces and places to support diverse regeneration and development projects, like a feasibility study for Rikers Island and The Ellinikon development in Greece.
Efficient project execution has been a key factor driving Jacobs’ performance over the last few quarters. The company’s solid backlog level is a testimony to this fact. The company’s backlog at the end of second-quarter fiscal 2023 amounted to $29 billion, up 4% from a year ago.
Its Focus 2023 initiative entails more than $200 million in benefits compared with fiscal 2020. Through this initiative, the company has been accelerating the adoption of digital technology across all facets of operations. This move will reduce the physical real estate footprint by more than 30% as it significantly shifts to a more flexible and virtual workforce.
Jacobs expects that by 2023, this transformative initiative will drive growth through technology-enabled solutions, providing it with the flexibility to materially invest in the business.
Zacks Rank
Currently, Jacobs carries a Zacks Rank #4 (Sell).
3 Better-Ranked Construction Stocks Hogging in the Limelight
AECOM (ACM - Free Report) is a leading solutions provider for supporting professional, technical and management solutions for diverse industries across end markets like transportation, facilities and government as well as those in environmental, energy and water businesses.
ACM currently carries a Zacks Rank #2 (Buy). Its expected earnings growth rate for 2023 is 6.6%. The consensus mark for ACM’s 2023 earnings has moved north to $3.70 per share from $3.69 in the past 60 days.
Howmet Aerospace, Inc. (HWM - Free Report) is a global manufacturer of engineered products serving the aerospace, defense and commercial transportation industries. The company is expected to benefit from higher aircraft production rates and ease of supply chains in the transportation market.
Howmet Aerospace currently carries a Zacks Rank #2. HWM’s earnings for 2023 are expected to grow by 20.7%. The consensus mark for HWM’s 2023 earnings has moved north to $1.69 per share from $1.64 in the past 60 days.
Quanta Services Inc. (PWR - Free Report) is a leading national provider of specialty contracting services and one of the largest contractors serving the transmission and distribution sector of the North American electric utility industry. The company has been capitalizing on megatrends to lead the energy transition and enable technological development. Initiatives toward a reduced-carbon economy continue to drive demand for PWR’s services and depict incremental growth opportunities.
PWR currently carries a Zacks Rank #2. Its earnings for 2023 are expected to grow by 10.6%. The consensus mark for PWR’s 2023 earnings has remained stable at $7.01 in the past 60 days.
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Jacobs (J) to Design a 10-storey IMHC in Western Sydney
Jacobs Engineering Group Inc. (J - Free Report) is set to design a new mental health facility in Western Sydney, Australia, for Health Infrastructure New South Wales.
Per the contract, Jacobs will offer architectural design and health planning services, including a new 10-storey, contemporary Integrated Mental Health Complex (IMHC) at Westmead Health Precinct.
Post-completion, this 10-storey building will be one of the tallest IMHCs in the world, with some unique considerations.
Jacobs' architecture and planning teams will have to deliver safe, therapeutic spaces while considering consumers’ privacy and a valuable connection to the outdoors.
Image Source: Zacks Investment Research
J’s shares gained 2.36% on Jul 11 and 7.3% in the past month versus the Zacks Technology Services industry’s 1.2% decline. Earnings estimates for fiscal 2023 suggest 6.1% year-over-year growth on 7.6% higher revenues.
Solid Project Execution to Drive Growth
Jacobs is witnessing a rising demand for infrastructure, water, environment, space, broadband, cybersecurity and life sciences consulting services. It has also been creating smart and connected spaces and places to support diverse regeneration and development projects, like a feasibility study for Rikers Island and The Ellinikon development in Greece.
Efficient project execution has been a key factor driving Jacobs’ performance over the last few quarters. The company’s solid backlog level is a testimony to this fact. The company’s backlog at the end of second-quarter fiscal 2023 amounted to $29 billion, up 4% from a year ago.
Its Focus 2023 initiative entails more than $200 million in benefits compared with fiscal 2020. Through this initiative, the company has been accelerating the adoption of digital technology across all facets of operations. This move will reduce the physical real estate footprint by more than 30% as it significantly shifts to a more flexible and virtual workforce.
Jacobs expects that by 2023, this transformative initiative will drive growth through technology-enabled solutions, providing it with the flexibility to materially invest in the business.
Zacks Rank
Currently, Jacobs carries a Zacks Rank #4 (Sell).
3 Better-Ranked Construction Stocks Hogging in the Limelight
AECOM (ACM - Free Report) is a leading solutions provider for supporting professional, technical and management solutions for diverse industries across end markets like transportation, facilities and government as well as those in environmental, energy and water businesses.
ACM currently carries a Zacks Rank #2 (Buy). Its expected earnings growth rate for 2023 is 6.6%. The consensus mark for ACM’s 2023 earnings has moved north to $3.70 per share from $3.69 in the past 60 days.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Howmet Aerospace, Inc. (HWM - Free Report) is a global manufacturer of engineered products serving the aerospace, defense and commercial transportation industries. The company is expected to benefit from higher aircraft production rates and ease of supply chains in the transportation market.
Howmet Aerospace currently carries a Zacks Rank #2. HWM’s earnings for 2023 are expected to grow by 20.7%. The consensus mark for HWM’s 2023 earnings has moved north to $1.69 per share from $1.64 in the past 60 days.
Quanta Services Inc. (PWR - Free Report) is a leading national provider of specialty contracting services and one of the largest contractors serving the transmission and distribution sector of the North American electric utility industry. The company has been capitalizing on megatrends to lead the energy transition and enable technological development. Initiatives toward a reduced-carbon economy continue to drive demand for PWR’s services and depict incremental growth opportunities.
PWR currently carries a Zacks Rank #2. Its earnings for 2023 are expected to grow by 10.6%. The consensus mark for PWR’s 2023 earnings has remained stable at $7.01 in the past 60 days.