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Jacobs (JEC) Wins Construction Management Deal from Oxea
Premium technical services company, Jacobs Engineering Group Inc. recently clinched a construction management (CM) project from Oxea Corporation (Oxea), for an undisclosed amount.
Over the last one year, shares of this Zacks Rank #3 (Hold) stock yielded a return of 22.58%, outperforming 17.07% gain recorded by the Zacks categorized Engineering – R&D Services industry.
Inside the Headlines
Oxea’s contract involves a Propanol Expansion project at its Bay City, TX manufacturing unit. Propanol is an intermediate input for products such as printing inks, coatings, pharmaceuticals, cosmetics and adhesives.
Per the contract, Jacobs will offer pre-construction management services for Oxea’s new Propanol 2 unit. These services would help to augment the unit’s propanol and propionaldehyde production capacity by 100,000 metric ton and 40,000 metric ton respectively, on a per year basis. The facility is likely to commence operations in 2018.
In the past one year, Jacobs has secured several prospective construction projects from companies and government authorities, including The Chemours Company LLC (CC - Free Report) , Oil Search Limited and the Department of Transportation, Australia. The company intends to boost its near-term revenues on the back of these deals.
Key Picks
Some better-ranked stocks within the industry are listed below:
TopBuild Corp. (BLD - Free Report) has an average positive earnings surprise of 27.38% for the past four quarters and currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
D.R. Horton, Inc. (DHI - Free Report) presently carries a Zacks Rank #2 (Buy) and has an average positive earnings surprise of 6.27% for the trailing four quarters.
Dycom Industries, Inc. (DY - Free Report) , currently holding a Zacks Rank #2, has an average positive earnings surprise of 17.30% for the last four quarters.
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