Jacobs Expands in United Kingdom - Analyst Blog
April 24 2013 - 1:40PM
Zacks
Jacobs Engineering Group Inc. (JEC) recently
inked a contract with Transport for London, for providing
maintenance and improvement of services in North East London,
United Kingdom. The value of the contract remains undisclosed. The
project will span over eight years, starting from Apr 1, 2013.
Jacobs will not be solely responsible for the execution of this
project as the privately held Eurovia Group will act as a joint
partner. The scope of this project covers the road network in seven
boroughs in the region, which are maintained by the Transport for
London team.
Jacobs will take up the responsibility of lead professional
planner and designer whereas the combined entity will take charge
of highway construction, maintenance and design services.
Also, last week, Jacobs received another contract. This contract
is from BASF Antwerp N.V., a wing of BASF SE
(BASFY), for providing engineering services at BASF’s integrated
chemicals complex in Antwerp, Belgium.
The contract value of this deal is also undisclosed while the
duration of the contract is estimated to be three years. BASF is a
diversified portfolio company, with its products ranging from
chemicals, plastics, performance products and crop protection
products to oil and gas.
Jacobs’ continued association with the company is assumed to be
a result of its efficient project execution. We expect Jacobs’
proficiency in handling projects will be amply reflected in its
performance and help the company sustain its long standing
relationship with BASF in the future.
Jacobs is scheduled to report its fiscal second quarter 2013
earnings after the close of market on Apr 29. The Zacks Consensus
Estimate stands at 83 cents, indicating a year-over-year growth
rate of 26.9%.
Jacobs currently carries a Zacks Rank #2 (Buy). Other stocks to
watch out for in the industry are Fluor
Corporation (FLR) and Engility Holdings,
Inc. (EGL), both carrying a Zacks Rank #1 (Strong
Buy).
BASF SE (BASFY): Free Stock Analysis Report
ENGILITY HLDGS (EGL): Get Free Report
FLUOR CORP-NEW (FLR): Free Stock Analysis Report
JACOBS ENGIN GR (JEC): Free Stock Analysis Report
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