Jacobs Reaches 52-Week High - Analyst Blog
March 18 2013 - 9:10AM
Zacks
Jacobs Engineering Group
Inc. (JEC), a construction services provider, hit a
52-week high of $53.80 on Mar 15, 2013, as it gained momentum from
a continued flow of contracts from well-known companies that
followed modest fiscal first quarter 2013 results. Jacobs has
generated a return of approximately 26.2% year-to-date.
This Zacks Rank #2 (Buy) company’s
long-term estimated earnings per share growth rate is 13.5%.
Average volume of shares traded over the last three months came in
at approximately 1.0 million.
Galore of
Contracts
Jacobs has been successfully
achieving a large number of projects and has also implemented them
with equal success. In March, Jacobs received a contract from
Jiangsu Sailboat Petrochemical Co., based in China, for designing a
sulfuric acid plant for an undisclosed amount. Around the same
time, Jacobs also inked an agreement with Shell Company of
Australia Ltd., for Shell’s Clyde Terminal Project based in Sydney,
Australia.
Also, in February, Jacobs signed
another contract with NASA for its Johnson Space Centre. This
contract is not the first, but rather among many other contracts
that Jacobs has entered into with NASA in various regions. The
company is also expanding its operations beyond the US, to regions
like China, Australia, Singapore, and Saudi Arabia, to name only a
few.
In late January, Jacobs reported
modest results for its fiscal first quarter 2013, 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.
Estimates have also been increasing
consistently over the past 60 days, after the announcement of the
results. 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 past 60 days.
Other Stocks to
Consider
Other stocks worth a look in the
services industry are AECOM Technology Corporation
(ACM), Tyco International (TYC) and
Mistras Group Inc. (MG); each of these holds a
Zacks Rank #2 (Buy).
AECOM TECH CORP (ACM): Free Stock Analysis Report
JACOBS ENGIN GR (JEC): Free Stock Analysis Report
MISTRAS GROUP (MG): Free Stock Analysis Report
TYCO INTL LTD (TYC): Free Stock Analysis Report
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