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Jacobs Engineering Group Inc. secured a five-year contract from the Manchester City Council (‘MCC’), for providing professional and property management services in the UK. The agreement has an option for a two-year extension. The deal’s aggregate value remained undisclosed.
On Feb 8, 2017, Jacobs reported better-than-expected earnings for first-quarter fiscal 2017 (ended Dec 30, 2016). Quarterly earnings exceeded the Zacks Consensus Estimate by 7.9%. Over the last one year, Jacobs’ shares yielded a return of 51.70% – outperforming 47.57% gained by the Zacks classified Engineering/Research & Development Services industry. This Zacks Rank #3 (Hold) company is poised to grow on the back of numerous contracts, diligent restructuring moves and suitable business diversification.
MCC Deal Details
Jacobs’ five-year property management contract is in sync with the MCC’s ongoing growth strategy for Manchester. Under this initiative, the MCC intends to make the city a globally popular cultural and economic hub. This strategy is being implemented by the MCC’s Strategic Development Directorate.
Per the contract, Jacobs would be providing its premium management services for the MCC’s investment estate. In addition, the company would offer certain technical and professional services for the estate. These would include investment, disposal & acquisition report creation, asset valuation, leases and other associated support services. All these functions would, ultimately, improve efficiency of the MCC’s investment estate.
Notably, Jacobs stated that apart from the above-mentioned factors, it would also provide certain other specialized services, such as providing regeneration & place-making recommendations, catering infrastructure & remediation services, and improve tenant retention and lettability.
The deal would not only modernize Manchester City, but also boost Jacobs’ organic growth trajectory.
Stocks to Consider
Some better-ranked stocks within the industry are listed below:
Boise Cascade Company (BCC - Free Report) presently carries a Zacks Rank #2 and has a whopping average earnings surprise of 436.26%.
The Sherwin-Williams Company (SHW - Free Report) also holds a Zacks Rank #2 and has an average earnings surprise of 2.82%.
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Jacobs (JEC) Wins MCC's 5-Year Property Management Deal
Jacobs Engineering Group Inc. secured a five-year contract from the Manchester City Council (‘MCC’), for providing professional and property management services in the UK. The agreement has an option for a two-year extension. The deal’s aggregate value remained undisclosed.
On Feb 8, 2017, Jacobs reported better-than-expected earnings for first-quarter fiscal 2017 (ended Dec 30, 2016). Quarterly earnings exceeded the Zacks Consensus Estimate by 7.9%. Over the last one year, Jacobs’ shares yielded a return of 51.70% – outperforming 47.57% gained by the Zacks classified Engineering/Research & Development Services industry. This Zacks Rank #3 (Hold) company is poised to grow on the back of numerous contracts, diligent restructuring moves and suitable business diversification.
MCC Deal Details
Jacobs’ five-year property management contract is in sync with the MCC’s ongoing growth strategy for Manchester. Under this initiative, the MCC intends to make the city a globally popular cultural and economic hub. This strategy is being implemented by the MCC’s Strategic Development Directorate.
Per the contract, Jacobs would be providing its premium management services for the MCC’s investment estate. In addition, the company would offer certain technical and professional services for the estate. These would include investment, disposal & acquisition report creation, asset valuation, leases and other associated support services. All these functions would, ultimately, improve efficiency of the MCC’s investment estate.
Notably, Jacobs stated that apart from the above-mentioned factors, it would also provide certain other specialized services, such as providing regeneration & place-making recommendations, catering infrastructure & remediation services, and improve tenant retention and lettability.
The deal would not only modernize Manchester City, but also boost Jacobs’ organic growth trajectory.
Stocks to Consider
Some better-ranked stocks within the industry are listed below:
MasTec, Inc. (MTZ - Free Report) has an average earnings surprise of 61.27% and currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Boise Cascade Company (BCC - Free Report) presently carries a Zacks Rank #2 and has a whopping average earnings surprise of 436.26%.
The Sherwin-Williams Company (SHW - Free Report) also holds a Zacks Rank #2 and has an average earnings surprise of 2.82%.
Just Released – Driverless Cars: Your Roadmap to Mega-Profits Today
In this latest Special Report, Zacks’ Aggressive Growth Strategist Brian Bolan explores a full-blown technological breakthrough in the making – autonomous cars. He also spotlights 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>