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) Wins $132M UK Naval Contract, Boosts Backlog
Read MoreHide Full Article
Jacobs Solutions Inc. (J - Free Report) clinched a significant $132 million (£108 million) contract to provide crucial research and technology services to the UK's naval nuclear propulsion program. The 14-year agreement, extending until 2032, focuses on delivering through-life technical support for the Rolls-Royce PWR2 reactors, vital for the Royal Navy's submarines.
The contract gains additional prominence as the UK progresses with the construction of four new Dreadnought Class ballistic missile submarines and develops a novel submarine variant under the AUKUS security alliance with the United States and Australia. Jacobs has been integral to the Royal Navy's nuclear submarines since their inception in 1958, showcasing the company's long-standing commitment to naval defense.
Underlining its diverse expertise, Jacobs offers comprehensive laboratory and analytical resources, excelling in materials science, high-integrity engineering, physics, and chemistry. This latest contract supplements Jacobs' existing role, where it is already responsible for delivering nuclear safety and technical advice to the Royal Navy's submarine service under a separate $230 million (£185 million), 10-year contract awarded last year.
Solid Project Execution: A Boon for Backlog
Jacob's ability to execute projects efficiently has played a pivotal role in driving the company's performance in recent quarters. The continuous success in securing new contracts stands as evidence of this proficiency. As of the end of fiscal 2023, the company disclosed a backlog of $29.1 billion, marking a 4.5% increase compared to the previous year. This growth underscores the sustained strong demand for Jacobs' consulting services.
J’s shares have gained 9.4% in the past six months compared with the Zacks Technology Services industry’s 8.9% growth.
Earnings estimates for fiscal 2024 remained stable at $8.05 per share in the past 30 days. This suggests 11.8% year-over-year growth on 4.8% higher revenues.
Zacks Rank & Stocks to Consider
Currently, Jacobs carries a Zacks Rank #4 (Sell).
Here are some better-ranked stocks from the Zacks Business Services sector.
DocuSign, Inc. (DOCU - Free Report) : The Zacks Consensus Estimate for DocuSign’s fiscal 2024 revenues indicates 9.2% growth from the year-ago figure, while earnings are expected to grow 41.4%. The company beat the consensus estimate in all the past four quarters, the average surprise being 24.7%.
Broadridge Financial Solutions (BR - Free Report) : The Zacks Consensus Estimate for Broadridge’s fiscal 2024 revenues indicates 7.7% growth from the year-ago figure, while earnings are expected to grow 10.1%. The company beat the consensus estimate in three of the past four quarters and matched on one instance, the average surprise being 5.4%.
BR carries a Zacks Rank of 2 (Buy) at present.
ABM Industries (ABM - Free Report) : The Zacks Consensus Estimate for ABM’s fiscal 2024 revenues indicates a slight increase from the year-ago figure, while earnings are expected to decline 5.1%. The company beat the consensus estimate in three of the past four quarters and missed on one occasion, the average surprise being 1.4%.
ABM currently carries a Zacks Rank of 2.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Jacobs (J) Wins $132M UK Naval Contract, Boosts Backlog
Jacobs Solutions Inc. (J - Free Report) clinched a significant $132 million (£108 million) contract to provide crucial research and technology services to the UK's naval nuclear propulsion program. The 14-year agreement, extending until 2032, focuses on delivering through-life technical support for the Rolls-Royce PWR2 reactors, vital for the Royal Navy's submarines.
The contract gains additional prominence as the UK progresses with the construction of four new Dreadnought Class ballistic missile submarines and develops a novel submarine variant under the AUKUS security alliance with the United States and Australia. Jacobs has been integral to the Royal Navy's nuclear submarines since their inception in 1958, showcasing the company's long-standing commitment to naval defense.
Underlining its diverse expertise, Jacobs offers comprehensive laboratory and analytical resources, excelling in materials science, high-integrity engineering, physics, and chemistry. This latest contract supplements Jacobs' existing role, where it is already responsible for delivering nuclear safety and technical advice to the Royal Navy's submarine service under a separate $230 million (£185 million), 10-year contract awarded last year.
Solid Project Execution: A Boon for Backlog
Jacob's ability to execute projects efficiently has played a pivotal role in driving the company's performance in recent quarters. The continuous success in securing new contracts stands as evidence of this proficiency. As of the end of fiscal 2023, the company disclosed a backlog of $29.1 billion, marking a 4.5% increase compared to the previous year. This growth underscores the sustained strong demand for Jacobs' consulting services.
J’s shares have gained 9.4% in the past six months compared with the Zacks Technology Services industry’s 8.9% growth.
Earnings estimates for fiscal 2024 remained stable at $8.05 per share in the past 30 days. This suggests 11.8% year-over-year growth on 4.8% higher revenues.
Zacks Rank & Stocks to Consider
Currently, Jacobs carries a Zacks Rank #4 (Sell).
Here are some better-ranked stocks from the Zacks Business Services sector.
DocuSign, Inc. (DOCU - Free Report) : The Zacks Consensus Estimate for DocuSign’s fiscal 2024 revenues indicates 9.2% growth from the year-ago figure, while earnings are expected to grow 41.4%. The company beat the consensus estimate in all the past four quarters, the average surprise being 24.7%.
DOCU currently sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Broadridge Financial Solutions (BR - Free Report) : The Zacks Consensus Estimate for Broadridge’s fiscal 2024 revenues indicates 7.7% growth from the year-ago figure, while earnings are expected to grow 10.1%. The company beat the consensus estimate in three of the past four quarters and matched on one instance, the average surprise being 5.4%.
BR carries a Zacks Rank of 2 (Buy) at present.
ABM Industries (ABM - Free Report) : The Zacks Consensus Estimate for ABM’s fiscal 2024 revenues indicates a slight increase from the year-ago figure, while earnings are expected to decline 5.1%. The company beat the consensus estimate in three of the past four quarters and missed on one occasion, the average surprise being 1.4%.
ABM currently carries a Zacks Rank of 2.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.