Market Overview

Bank of America Reports on Jacobs Engineering Group


Bank of America has published a report on Jacobs Engineering Group (NYSE: JEC) commenting on FY3Q11 results.

In the report, Bank of America wrote, "Little new news in FY3Q11 results JEC delivered operating results roughly in line with consensus but below our more optimistic forecast. Field Services (Construction + O&M) revenue appears to have stabilized through FY11, and Technical Professional Services continues recovering but not as robustly as we expected. FY3Q11 backlog remained firm at $14bn (up 4% Y/Y), but exhibited no Q/Q growth in either segment (flat sequentially in both businesses). JEC maintained its wide FY11 EPS outlook, likely reflective of still limited visibility on the timing and pace of upturn in its key markets, including oil & gas."

Bank of America rated Jacobs Engineering a Buy with a price target of $59.00. Jacobs Engineering Group closed Monday at $43.00.

Posted-In: Bank of America Merrill Lynch jacobs engineering groupAnalyst Color Analyst Ratings


Related Articles (JEC)

View Comments and Join the Discussion!

Latest Ratings

View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

Update: Jefferies Lowering Price Target On Unisys (UIS)

Deutsche Bank Updates on Shipping 7/26/11