Why the Service Stream Limited share price is rising today

Credit: Steve Jurvetson

Shares in network services provider Service Stream Limited (ASX: SSM) were up 0.7% to $1.61 at the time of writing off the back of a May 31 investment presentation.

Service Stream provides design, construction, installation and maintenance services across the telecommunications and utility sectors with 26 offices and depots across Australia.

Service Stream’s share price has risen by around 1,000% over the last 5 years as the $576 million market cap company has targeted a range of public and private customers nationally in the competitive energy and water space.

Since announcing a share buyback in February, Service Stream has acquired and cancelled 4.6 million shares with share buybacks to continue as the company forecasts FY18 group EBITDA to be in the realm of $64 million.

Other Energy stocks falling into the red today include Origin Energy Ltd (ASX: ORG) – down 0.9% to $9.51 at the time of writing and AGL Energy Ltd – also down 0.7% to $21.93.

The Rocket Fuel of the AI Boom

One of the world’s richest people is sounding the alarm on what could be a trillion-dollar technology.

Everyone is talking about the artificial intelligence revolution.

Harvard Business Review calls it, “the most important general-purpose technology of our era.”

One Google Insider predicts AI, “will be as transformative as the discovery of electricity.” And it already is transforming industry after industry.

After all we have been hearing about AI for years…but it never really lived up to the hype…so what’s finally unlocked this huge tidal wave of innovation?

Click here to learn more!

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.