The Cork County Council appointed Jacobs Solutions Inc. (J Quick QuoteJ - Free Report) as the technical advisor for the M28 motorway project in County Cork, Ireland. The project involves linking the N40 South Ring Road to the Port of Cork in Ringaskiddy.

Jacobs will provide consultancy services throughout the design, construction and closeout phases of the motorway. The project focuses on enhancing around 7.5 miles (12 km) of the N28 National Primary Route to improve safety, capacity, and accessibility. Funded by Transport Infrastructure Ireland and integral to the Core Trans-European Transport Network, the initiative facilitates the strategic development of the Port of Cork in Ringaskiddy. The motorway, slated for completion by 2030, aims to support sustainable regional and national economic development.

This development, aligned with the government's Project Ireland 2040, aims to deliver safety and economic benefits. The plan encompasses active travel measures linked to the Lee to Sea greenway, along with extending the Ballybrack Valley Pedestrian and Cycle Scheme in Douglas.

With extensive experience in multi-disciplinary integration and project delivery for critical transportation infrastructure initiatives in Ireland and worldwide, J is focused on supporting the Cork County Council in enhancing a user-centric, sustainable road network.

Solid Backlog Driving Growth Prospects

Jacobs is experiencing a surge in demand for its consulting services across a wide range of sectors, including infrastructure, water management, environmental solutions, space exploration, broadband, cybersecurity and life sciences.

At the fiscal 2023 end, the company reported a backlog of $29.1 billion, up 4.5% year over year. This reflects persistent solid demand for Jacobs' consulting services. The company is expected to benefit from strong global trends in infrastructure modernization, energy transition, national security and a potential super-cycle in global supply-chain investments.
 

Image Source: Zacks Investment Research

Jacobs’ shares have increased 9.4% in the past six months compared with the Zacks Technology Services industry’s 19.1% growth. Even though the company’s shares underperformed the industry, its consistent contract wins on the back of efficient project execution are likely to boost growth prospects.

Zacks Rank & Key Picks

Jacobs currently carries a Zacks Rank #4 (Sell).

Here are some better-ranked stocks from the Zacks Business Services sector.

TriNet Group, Inc. (TNET Quick QuoteTNET - Free Report) currently sports a Zacks Rank of 1 (Strong Buy). It has a trailing four-quarter earnings surprise of 77.4%, on average. The stock has hiked 93.3% in the past year. You can see the complete list of today’s Zacks Rank #1 stocks here.

The Zacks Consensus Estimate for TNET’s 2023 sales indicates a decline of 2.7%, but earnings per share (EPS) suggests a rise of 4%, respectively, from the year-ago period’s levels.

FirstCash Holdings, Inc. (FCFS Quick QuoteFCFS - Free Report) currently flaunts a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 7.9%, on average. The stock has gained 25.8% in the past year.

The Zacks Consensus Estimate for FCFS’ 2023 sales and EPS indicates a 15.8% and a 13.1% rise from the year-ago period’s levels.

Duolingo, Inc. (DUOL Quick QuoteDUOL - Free Report) sports a Zacks Rank #2 (Buy). It has a trailing four-quarter earnings surprise of 114%, on average. The stock has surged 229.2% in the past year.

The Zacks Consensus Estimate for DUOL’s 2023 sales and EPS suggests an increase of 42.6% and 116.6%, respectively, from the year-ago period’s levels.