Jacobs Engineering Group Inc. (JEC - Free Report) boosted its organic growth path on the back of a new engineering, procurement and construction (EPC) deal secured from the Southern Peru Copper Corporation (“SPCC”).
Shares of this Zacks Rank #3 (Hold) stock yielded a return of 1.4%, as against the loss of 0.2% incurred by the industry in three months’ time.
The company is poised to grow on the back of diligent business contracts and strategic restructuring moves. Notably, Jacobs (on Aug 7, 2017) inked an agreement to acquire CH2M HILL Companies Ltd., in a bid to become a $15-billion global solutions provider in the long run.
Inside the Headlines
SPCC is the owner of the world’s biggest copper refinery/smelting facilities located in Ilo, Peru. The plant is situated nearly 600 miles away from south of Lima.
Per the aforementioned deal, Jacobs will offer EPC services for SPCC’s No.1 Acid Plant advancement project. Under this, the company will upgrade the existing acid plant by boosting its sulphuric acid production capability and lowering overall sulphur dioxide emissions. Jacobs is anticipated to efficiently accomplish the task on the back of its non-imitable sulphuric acid technology — Chemetics.
Apart from the No.1 Acid Plant upgradation project, Jacobs is also set to conduct a feasibility study for SPCC in Lima. This study will help in improving SPCC’s existing power distribution system and make it more competent to satisfy market demand, moving ahead.
Stocks to Consider
Better-ranked stocks in the industry are listed below:
Fenner PLC (FNERF - Free Report) has long-term earnings growth expectation of 10% and currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
IMI PLC (IMIAY - Free Report) also carries a Zacks Rank #2 and has long-term earnings growth expectation of 10%.
Spirax-Sarco Engineering plc (SPXSF - Free Report) , another Zacks Rank #2 stock, has long-term earnings growth expectation of 8.5%.
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