On Mar 20, Zacks Investment Research upgraded
Jacobs Engineering Group Inc.
) to a Zacks Rank #2 (Buy).
Why the Upgrade?
Jacobs has been witnessing rising earnings estimates on the
back of regular strong contract wins from well known market
players. The company has also been implementing plans to expand
its product and service offerings as well as its geographical
Some recent contracts include a sulfuric acid plant contract
from China-based Jiangsu Sailboat Petrochemical Co. and Clyde
Terminal Project from
Royal Dutch Shell Plc.
) in Australia, both in March.
Year-to-date Jacobs has won contracts in regions such as
China, Australia, Saudi Arabia, Singapore and the U.S from
various renowned companies with tenures ranging from six months
to five years and more.
In addition, Jacobs reported decent fiscal first quarter 2013
results on Jan 23, with earnings per share of 76 cents, in line
with the Zacks Consensus Estimate. Revenue increased 4.6% year
over year to $2.6 billion in 2012.
Jacobs also maintained its outlook for fiscal 2013 to be in
the range of $3.00 and $3.50 per share. Management sees ample
opportunity to increase market share as end markets see
Most of the estimates for fiscal 2013 and fiscal 2014 have
been revised upwards in the last 60 days. The Zacks Consensus
Estimate for fiscal 2013 rose almost 1.5% to $3.35 while that for
fiscal 2014 increased 4.2% to $3.74 in the same timeframe.
Other Stocks to Consider
The following companies in the services industry are also
performing well and are worth considering.
Engility Holdings Inc.
) carries a Zacks Rank #1 (Strong Buy)
AECOM Technology Corporation
) carries a Zacks Rank #2 (Buy).
AECOM TECH CORP (ACM): Free Stock Analysis
ENGILITY HLDGS (EGL): Get Free Report
JACOBS ENGIN GR (JEC): Free Stock Analysis
ROYAL DTCH SH-A (RDS.A): Free Stock Analysis
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