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ACM

Aecom

$37.60

0.47 (1.27%)

17:14
11/23/16
11/23
17:14
11/23/16
17:14

AECOM to pay $57.5M in DoJ settlement

On November 23, 2016, a qui tam civil lawsuit filed pursuant to the federal False Claims Act was unsealed against URS Energy & Construction, now known as AECOM Energy & Construction, and the successor to the former parent corporation of URS Corporation in the U.S. District Court for the Eastern District of Washington. The qui tam provisions of the federal False Claims Act, allow private individuals and former employees to bring lawsuits against government contractors on behalf of the federal government, in which the federal government may decide to intervene. As previously disclosed in AECOM's periodic reports, the federal government was investigating contractual compliance and technical issues in the design, development and construction of the Waste Treatment Plant at the Department of Energy's Hanford Nuclear Reservation. As a result of these investigations, in November 2016, the Department of Justice partially intervened in the qui tam lawsuit and contended that URS Energy & Construction and the former URS parent corporation made false claims pertaining to the Waste Treatment Plant contract from February 2007 until June 2013, a period which occurred before AECOM's acquisition of URS Corporation and its affiliates in October 17, 2014. On November 22, 2016, URS Energy & Construction and the former URS parent corporation settled with the Department of Justice to resolve the dispute without admitting liability and agreed to pay $57,500,000. The settlement was favorable to AECOM's reserve for this matter. As a result, AECOM is increasing its fiscal year 2017 U.S. GAAP earnings per share guidance to $2.16 to $2.56 and its adjusted earnings per share guidance to $2.80 to $3.20.

  • 13

    Dec

ACM Aecom
$37.60

0.47 (1.27%)

11/15/16
DBAB
11/15/16
NO CHANGE
Target $42
DBAB
Buy
AECOM price target raised to $42 from $38 at Deutsche Bank
Deutsche Bank analyst Chad Dillard raised his price target for AECOM to $42 saying it "looks increasingly clear that the earnings bottom is in" following the company's weaker than expected Q4 results and lowered 2017 outlook. The company's guidance looks "sufficiently conservative" and there is a "clear roadmap" to backlog growth in 2017 on both the infrastructure and government services sides of the business, Dillard tells investors in a post-earnings research note. He maintains a Buy rating on the shares.
11/15/16
ARGS
11/15/16
UPGRADE
ARGS
Buy
AECOM upgraded to Buy from Hold at Argus
11/15/16
ARGS
11/15/16
UPGRADE
ARGS
Buy
AECOM upgraded on infrastructure outlook, recent trends,at Argus
As noted earlier, Argus upgraded AECOM to Buy from Hold. Analyst John Eade says that the company is well-positioned to benefit from increased infrastructure spending, while its "impressive" order and win trends indicate that its earnings growth is poised to accelerate. Target $43.
11/18/16
DBAB
11/18/16
NO CHANGE
DBAB
Infrastructure rally has gone 'too far too fast,' says Deutsche Bank
Deutsche Bank analyst Chad Dillard believes the Trump-driven infrastructure rally in the Engineering & Construction space has gone "too far too fast." Post the election, infrastructure E&C shares rose by 20% and price-to-earnings ratios reached prior cyclical peaks, Dillard tells investors in a research note. It looks more likely that funding for a Trump infrastructure plan will be private rather than public, the analyst adds. Dillard notes, however, that he remains positive on the infrastructure theme. He believes the market is being "overly optimistic" towards Jacobs Engineering (JEC) and Fluor (FLR), while shares of AECOM (ACM) still have room to run.

TODAY'S FREE FLY STORIES

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NSC

Norfolk Southern

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FBM

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MAT

Mattel

$16.09

-0.05 (-0.31%)

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HMNY

Helios and Matheson

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0.19 (2.35%)

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MAT

Mattel

$16.09

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AAPL

Apple

$177.00

-1.46 (-0.82%)

14:41
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  • 01

    Feb

GE

General Electric

$16.96

0.785 (4.85%)

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  • 24

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SNE

Sony

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Apple

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14:25
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Downgrade
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SNE

Sony

$51.00

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AAPL

Apple

$177.00

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EXAS

Exact Sciences

$48.49

0.67 (1.40%)

14:25
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  • 26

    Feb

MAT

Mattel

$16.09

-0.05 (-0.31%)

, HAS

Hasbro

$90.86

-1.7 (-1.84%)

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MAT

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FB

Facebook

$185.37

4.08 (2.25%)

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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W

Wayfair

$89.35

-1.29 (-1.42%)

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Wayfair put volume heavy and directionally bearish »

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  • 22

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TWTR

Twitter

$22.84

-0.5 (-2.14%)

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Twitter analyst commentary  »

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AAPL

Apple

$177.00

-1.46 (-0.82%)

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  • 01

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SNE

Sony

$51.80

0.995 (1.96%)

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Downgrade
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  • 25

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General news
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BTC

Bitcoin

, BITCOIN

Bitcoin

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Bitcoin

BITCOIN

Bitcoin

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REG

Regency Centers

$64.46

0.15 (0.23%)

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  • 09

    Feb

TEVA

Teva

$20.80

-0.22 (-1.05%)

, JNJ

Johnson & Johnson

$142.63

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TEVA

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ENDP

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MCK

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CAH

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SHLD

Sears

$3.45

-0.18 (-4.96%)

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FOLD

Amicus

$15.97

0.07 (0.44%)

14:05
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Options
Amicus call volume above normal and directionally bullish »

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NSC

Norfolk Southern

$150.81

-0.66 (-0.44%)

14:03
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  • 24

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