12
ZG15 INDEX
Share Pricing
Valuation
Ticker Name
Market
Market
Close
Close Beginning of % Month Change % Change EPS
EV/
EV/ Price/ Price/
Book Value
30.83 12.71 52.18 11.31 47.83 Jul. 31, 2015
Aug. 30, 2015
Month Change
Change
from 50 -day MA
from 50 -day MA
Rev. EBITDA Sales
Cap
ACM AECOM Technology Corp NYSE
4.09B
27.50 12.51 44.28 11.25 46.09
(3.33) (0.20) (7.90) (0.06) (1.74) (0.19) (1.74) (1.13) (0.86) (1.71) (0.03) (4.44) (0.68) (0.66) (0.26) (1.28)
-11%
(1.51) (0.66) (5.53) (0.15) (1.11) (0.02)
-5.30% (0.68) 0.52 9.69 0.26 1.18 -5.34% 0.36 0.81 11.80 0.61 1.69 -11.66% 5.62 0.49 5.03 0.35 1.53 -1.29% 0.43 0.37 7.33 0.40 1.33 -2.38% 2.59 0.43 8.16 0.44 1.94 -1.71% 0.15 0.20 3.06 0.29 0.93
AMFW Amec Foster Wheeler
NYSE
4.5B
-2%
CBI EEI
Chicago Bridge and Iron Co. NYSE
4.46B
-15%
Ecology and Environment Nasdaq 47.97M
-1% -4%
EME EMCOR Group Inc
NYSE
2.85B
ENG ENGlobal
Nasdaq 30.08M
1.22
1.03
-16%
EXPO Exponent Inc.
Nasdaq
1.13B 6.54B
44.49 46.75
42.75 45.62
-4% -2%
0.16
0.36%
1.54 3.33 13.53 3.83 4.36
FLR
Fluor Corp
NYSE
(1.37) (0.80) (2.12) (0.55) (2.06)
-2.95% 3.76 0.28 4.20 0.32 2.11 -18.23% (0.14) 0.50 7.13 0.30 1.19 -5.14% 2.80 0.42 6.08 0.41 1.15 -3.12% (7.64) 0.31 (13.50) 0.42 2.61
HIL
Hill International Inc
NYSE 180.65M
4.78
3.92
-18%
JEC
Jacobs Engineering Group NYSE
4.86B 2.46B
42.12 17.47 27.87
40.41 17.44 23.43
-4%
KBR KBR Inc.
NYSE NYSE NYSE
0%
STN TRR
Stantec Inc
-16%
-8.26% 1.34
TRC Companies
365.7M
9.60
8.92
-7% -2% -8%
2.47
26.01% 0.63 0.80 8.27 0.89 2.48 -3.31% 1.49 0.89 9.87 0.85 1.56 3.11% (0.05) 0.25 6.35 0.21 0.87
TTEK Tetra Tech Inc.
Nasdaq
1.51B
26.64
25.98
(0.86)
VSR
Versar Inc.
NYSE MKT 32.27M Nasdaq 83.19M
3.41
3.15 9.04
0.10 0.75
WLDN Willdan Group Inc
10.32
-12%
7.61%
1.16 0.61 6.70 0.64 2.32
DJIA DOW Jones Industrial Avg. NYSE
17689.86 16528.03 (1161.83) -7%
*information at close of day Sept. 11, 2015
Average 0.68x 6.25x 0.68x 1.82x
Median 0.49x 7.13x 0.41x 1.56x
LOW OIL PRICES PRESENT VALUE OPPORTUNITY Over Labor Day weekend gas prices were the lowest they’ve been since 2004. It’s no wonder that AEC companies, primarily E/C firms that lean heavy on the procurement of fossil fuels, are taking a beating. This is especially true of publicly held companies, where there is heavy oversight and decisions are made most often by a small team of people trying to please a much larger share- holder base. Most shareholders prefer short-term gains, sometimes at the cost of long-term business strategy. Despite an 11 percent drop in price-per-share during August, AECOM has a book-to-burn ratio exceeding 1. This means that one of the key metrics for long-term performance, the firm’s backlog, is growing. AECOM increased its backlog by more than the revenue it billed in the same timeframe. AMEC Foster Wheeler has set modest growth forecasts, but, combined with drop in bottom-line expenses, the firm should do well. Revenues in the Middle East were up 6 percent, and the firm has been awarded an extension to its project management services in the second largest oil field in the Gulf. INDUSTRY NEWS MODTRUSS USED FOR BERLIN WALL DISPLAY INSTALLATION A portion of the Berlin Wall is back on display today in New York City, thanks to a versatile solution by ModTruss Inc. and facilitated by Showman Fabricators and implemented by Torsilieri INC of New York. The famous section of wall was previously removed from its spot in the Urban Plaza at 520 Madison Ave. to undergo a thorough restoration. ModTruss modular trussing system was used to build a custom lift ca- pable of hoisting the 33,000-lb. structure into its new spot in the lobby
Tetra Tech saw a 13.5 percent profit increase from the first quarter to the second, and KBR has seen eight upward revisions, pushing its projected earnings up an additional 12.8 percent. Fluor made a large cash investment in NuScale Power, now holding a majority stake. Once NuScale reaches a commercially viable end product, expected in the next five to 10 years, Fluor will have positioned itself to rocket its way beyond the large swings in crude oil prices. NuScale makes small modular reactors as alternatives to the current reactors used in power production. Stantec , an Irvine based, 60-person, transportation firm, made two acquisitions: VA Consulting and Fay, Spofford & Thorndike , a 280-person E/P and environmental consulting firm in Massachusetts. Versar acquired Johnson Control Security Systems , which serves federal clients through a variety of physical and network security services and facilities management, for $20 million. Though most firms are seeing long-time lows in price-per-share, now is a hot time for long-term value investors. — Ryan Renard, M&A consultant.
of the same address. The move to the lobby will allow the wall section to remain on display for the public but away from the spray of the waterfall that had been causing its rapid deterioration when it had been on display in the plaza. Because of the massive weight of the wall segments, a convenient and safe solution for moving and lifting the wall had been previously unavail- able. Sections of ModTruss were pieced together to create the perfect lift for the specific task.
© Copyright 2015. Zweig Group. All rights reserved.
THE ZWEIG LETTER OCTOBER 12, 2015, ISSUE 1123
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