We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
AECOM (ACM) Leads NYSDOT Bronx River Parkway Bridge Project
Read MoreHide Full Article
AECOM (ACM - Free Report) has been appointed as the Lead Designer by the New York State Department of Transportation (“NYSDOT”) for a critical infrastructure project involving the replacement of two aging bridges along the Bronx River Parkway. These bridges, constructed in 1951, are nearing the end of their service lives, and their replacement is crucial to maintaining safety, improving traffic flow, and enhancing resilience along a key commuter route.
Supported by more than $200 million in funding from the Infrastructure Investment and Jobs Act, the project is a significant undertaking, with AECOM partnering with Yonkers Contracting Company, Inc. as part of a design-build team. The scope of the project includes not just the replacement and widening of the bridges but also the incorporation of modern features to meet 21st-century infrastructure demands. These upgrades include redundant steel girders, stainless-steel reinforced concrete decks, and fewer bridge joints, all designed to reduce long-term maintenance costs and increase the bridges' resilience to climate change and severe weather events.
In addition to the bridge replacements, the project will create a new shared-use path connecting cyclists and pedestrians to the Bronx River Greenway and a dedicated southbound exit ramp aimed at alleviating traffic congestion. These improvements will enhance connectivity across boroughs, benefiting the tens of thousands of commuters who rely on this vital roadway daily.
AECOM’s involvement underscores its expertise in delivering complex urban infrastructure projects. The company's use of state-of-the-art BIM modeling technologies and innovative design solutions is expected to ensure the timely delivery of the project, providing long-term benefits to the local community. With a strong track record of successful collaborations with NYSDOT, AECOM is well-positioned to help New York State modernize its critical infrastructure, supporting economic growth and environmental protection.
Infrastructural Demand: A Boon
Owing to the improving global scenario, which is fostering infrastructural demand around the globe, there has been an increase in demand for ACM’s services. This improving trend is reflected in the company’s backlog levels.
As of the fiscal third-quarter end, the total backlog was $23.36 billion compared with $23.21 billion reported in the prior-year period. The current backlog level includes 54.8% contracted backlog growth.
The design business backlog rose 3% to $21.89 billion. The metric was driven by a near-record win rate and continued strong end-market trends.
Image Source: Zacks Investment Research
Shares of AECOM have gained 8.8% in the past month compared with the Zacks Engineering - R and D Services industry’s growth of 3.9%. The ongoing contract wins are expected to boost its prospects in the forthcoming quarters. Also, increasing infrastructural spending trends across the world are encouraging for ACM.
Zacks Rank & Key Picks
ACM currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the Zacks Construction sector are:
Sterling Infrastructure, Inc. (STRL - Free Report) presently sports a Zacks Rank of #1 (Strong Buy). It has a trailing four-quarter earnings surprise of 17.4%, on average. Shares of STRL have soared 31.8% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for STRL’s 2024 sales and earnings per share (EPS) indicates an increase of 9.7% and 26.6%, respectively, from the year-ago period’s levels.
Dycom Industries, Inc. (DY - Free Report) currently carries a Zacks Rank #2 (Buy). It has a trailing four-quarter earnings surprise of 30.2%, on average. Shares of DY have surged 88.8% in the past year.
The Zacks Consensus Estimate for DY’s 2025 sales and EPS suggests growth of 11% and 8.8%, respectively, from the year-ago period’s levels.
Armstrong World Industries, Inc. (AWI - Free Report) currently carries a Zacks Rank of 2. AWI delivered a trailing four-quarter earnings surprise of 15.4%, on average. The stock has surged 54.2% in the past year.
The Zacks Consensus Estimate for AWI’s 2024 sales and EPS indicates growth of 9.9% and 13.2%, respectively, from the previous year’s levels.
See More Zacks Research for These Tickers
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
AECOM (ACM) Leads NYSDOT Bronx River Parkway Bridge Project
AECOM (ACM - Free Report) has been appointed as the Lead Designer by the New York State Department of Transportation (“NYSDOT”) for a critical infrastructure project involving the replacement of two aging bridges along the Bronx River Parkway. These bridges, constructed in 1951, are nearing the end of their service lives, and their replacement is crucial to maintaining safety, improving traffic flow, and enhancing resilience along a key commuter route.
Supported by more than $200 million in funding from the Infrastructure Investment and Jobs Act, the project is a significant undertaking, with AECOM partnering with Yonkers Contracting Company, Inc. as part of a design-build team. The scope of the project includes not just the replacement and widening of the bridges but also the incorporation of modern features to meet 21st-century infrastructure demands. These upgrades include redundant steel girders, stainless-steel reinforced concrete decks, and fewer bridge joints, all designed to reduce long-term maintenance costs and increase the bridges' resilience to climate change and severe weather events.
In addition to the bridge replacements, the project will create a new shared-use path connecting cyclists and pedestrians to the Bronx River Greenway and a dedicated southbound exit ramp aimed at alleviating traffic congestion. These improvements will enhance connectivity across boroughs, benefiting the tens of thousands of commuters who rely on this vital roadway daily.
AECOM’s involvement underscores its expertise in delivering complex urban infrastructure projects. The company's use of state-of-the-art BIM modeling technologies and innovative design solutions is expected to ensure the timely delivery of the project, providing long-term benefits to the local community. With a strong track record of successful collaborations with NYSDOT, AECOM is well-positioned to help New York State modernize its critical infrastructure, supporting economic growth and environmental protection.
Infrastructural Demand: A Boon
Owing to the improving global scenario, which is fostering infrastructural demand around the globe, there has been an increase in demand for ACM’s services. This improving trend is reflected in the company’s backlog levels.
As of the fiscal third-quarter end, the total backlog was $23.36 billion compared with $23.21 billion reported in the prior-year period. The current backlog level includes 54.8% contracted backlog growth.
The design business backlog rose 3% to $21.89 billion. The metric was driven by a near-record win rate and continued strong end-market trends.
Image Source: Zacks Investment Research
Shares of AECOM have gained 8.8% in the past month compared with the Zacks Engineering - R and D Services industry’s growth of 3.9%. The ongoing contract wins are expected to boost its prospects in the forthcoming quarters. Also, increasing infrastructural spending trends across the world are encouraging for ACM.
Zacks Rank & Key Picks
ACM currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the Zacks Construction sector are:
Sterling Infrastructure, Inc. (STRL - Free Report) presently sports a Zacks Rank of #1 (Strong Buy). It has a trailing four-quarter earnings surprise of 17.4%, on average. Shares of STRL have soared 31.8% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for STRL’s 2024 sales and earnings per share (EPS) indicates an increase of 9.7% and 26.6%, respectively, from the year-ago period’s levels.
Dycom Industries, Inc. (DY - Free Report) currently carries a Zacks Rank #2 (Buy). It has a trailing four-quarter earnings surprise of 30.2%, on average. Shares of DY have surged 88.8% in the past year.
The Zacks Consensus Estimate for DY’s 2025 sales and EPS suggests growth of 11% and 8.8%, respectively, from the year-ago period’s levels.
Armstrong World Industries, Inc. (AWI - Free Report) currently carries a Zacks Rank of 2. AWI delivered a trailing four-quarter earnings surprise of 15.4%, on average. The stock has surged 54.2% in the past year.
The Zacks Consensus Estimate for AWI’s 2024 sales and EPS indicates growth of 9.9% and 13.2%, respectively, from the previous year’s levels.