Advertisement
U.S. markets closed
  • S&P Futures

    5,210.00
    -4.75 (-0.09%)
     
  • Dow Futures

    39,209.00
    -14.00 (-0.04%)
     
  • Nasdaq Futures

    18,196.75
    -34.75 (-0.19%)
     
  • Russell 2000 Futures

    2,048.50
    -1.30 (-0.06%)
     
  • Crude Oil

    82.61
    -0.11 (-0.13%)
     
  • Gold

    2,164.30
    0.00 (0.00%)
     
  • Silver

    25.32
    +0.06 (+0.22%)
     
  • EUR/USD

    1.0878
    +0.0001 (+0.01%)
     
  • 10-Yr Bond

    4.3400
    +0.0360 (+0.84%)
     
  • Vix

    14.33
    -0.08 (-0.56%)
     
  • GBP/USD

    1.2727
    -0.0002 (-0.01%)
     
  • USD/JPY

    149.3150
    +0.2170 (+0.15%)
     
  • Bitcoin USD

    65,586.70
    -2,416.39 (-3.55%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,722.55
    -4.87 (-0.06%)
     
  • Nikkei 225

    39,596.29
    -144.15 (-0.36%)
     

Jacobs (JEC) Wins Feasibility Study Deal From Borealis AG

Jacobs Engineering Group Inc. JEC recently secured a new feasibility study contract from Borealis AG, for the development of the latter’s Belgium polypropylene plants. The new deal will not only make Borealis the leading polypropylene supplier in Europe but would also fortify Jacobs’ chemical business in the continent.

Over the last three months, shares of this Zacks Rank #2 (Buy) company have gained 7.5%, as against the 4.5% loss recorded by the industry.

Notably, the stock currently flaunts a VGM Score of B.

The company is poised to grow on the back of contract wins, strategic restructuring moves and CH2M HILL Companies Ltd. (‘CH2M’) acquisition (December 2017). Notably, Jacobs stated that the CH2M acquisition will make its business worth $15 billion over the long run.

Inside the Headlines

Borealis’ large-scale PDH facility project is a massive investment of European chemical industry. On completion, this plant is estimated to have an annual production capacity of 740 kilotons. Hence, this world-famous facility is anticipated to help supplement the rising market demand for propylene and polypropylene.

Earlier this January, Borealis awarded a front-end engineering design (FEED) contract to Jacobs for its propane dehydrogenation (PDH) plant, located at Kallo, Belgium. The deal involves formulating the elementary design package for the outside as well as inside battery limit areas of the new PDH plant.

Per the recently-secured contract, Jacobs will access the viability of expanding the capacity of the polypropylene plants and hence ensure that the additional propylene supply (secured from the new PDH plant installation) is fully exploited.

Other Stocks to Consider

Some other top-ranked stocks in the Zacks Categorized Construction Sectorare listed below:

Boise Cascade, L.L.C. BCC sports a Zacks Rank #1 (Strong Buy). The company pulled off an average positive average earnings surprise of 116.28% over the last four quarters. You can see the complete list of today’s Zacks #1 Rank stocks here.

TopBuild Corp. BLD flaunts a Zacks Rank #1. The company generated an average positive earnings surprise of 10.33% over the preceding four quarters.

Beazer Homes USA, Inc. BZH holds a Zacks Rank #2. The company recorded an average positive average earnings surprise of 274.27% over the trailing four quarters.

Don’t Even Think About Buying Bitcoin Until You Read This

The most popular cryptocurrency skyrocketed last year, giving some investors the chance to bank 20X returns or even more. Those gains, however, came with serious volatility and risk. Bitcoin sank 25% or more 3 times in 2017.

Zacks’ has just released a new Special Report to help readers capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.

See 4 crypto-related stocks now >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
TopBuild Corp. (BLD) : Free Stock Analysis Report
 
Boise Cascade, L.L.C. (BCC) : Free Stock Analysis Report
 
Jacobs Engineering Group Inc. (JEC) : Free Stock Analysis Report
 
Beazer Homes USA, Inc. (BZH) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

Advertisement