Zacks Investment Research lowered shares of ICF International (NASDAQ:ICFI) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $88.00 price target on the business services provider’s stock.
According to Zacks, “ICF's earnings and revenues beat the Zacks Consensus Estimate in the second-quarter of 2019. The company's international government business remains strong, courtesy of improvement in business development pipeline and win rate. ICF is banking on opportunities emerging from the bipartisan budget agreement. Global presence and diversity of markets ensures diversified and consistent revenue growth. Acquisitions are helping ICF to expand offerings and provide scale in particular geographies. On the flip side, the company is seeing escalation in costs because it is making significant investments in capture and proposal activities, infrastructure and intellectual property development, loyalty program and acquisitions. Also, ICF remains embroiled with various legal matters and proceedings. Year to date, shares have underperformed the industry.”
Other research analysts have also issued research reports about the company. ValuEngine lowered ICF International from a buy rating to a hold rating in a report on Thursday, August 1st. SunTrust Banks raised their target price on ICF International to $110.00 and gave the company a buy rating in a report on Friday, August 2nd. BidaskClub upgraded ICF International from a hold rating to a buy rating in a report on Friday, July 19th. Finally, Barrington Research reaffirmed a buy rating and set a $89.00 price target on shares of ICF International in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. ICF International currently has an average rating of Buy and a consensus price target of $89.20.
ICF International (NASDAQ:ICFI) last posted its earnings results on Thursday, August 1st. The business services provider reported $0.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.04. ICF International had a return on equity of 11.73% and a net margin of 4.60%. The company had revenue of $366.70 million for the quarter, compared to analyst estimates of $356.58 million. During the same quarter last year, the company earned $0.80 earnings per share. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, equities research analysts anticipate that ICF International will post 4.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Thursday, September 12th. ICF International’s payout ratio is 15.01%.
In related news, CEO Sudhakar Kesavan sold 11,966 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $85.00, for a total transaction of $1,017,110.00. Following the completion of the sale, the chief executive officer now directly owns 210,464 shares of the company’s stock, valued at $17,889,440. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John Wasson sold 14,468 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $80.76, for a total value of $1,168,435.68. Following the sale, the chief operating officer now directly owns 82,248 shares of the company’s stock, valued at $6,642,348.48. The disclosure for this sale can be found here. Insiders have sold 45,840 shares of company stock valued at $3,772,919 over the last ninety days. 4.67% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. United Services Automobile Association increased its position in ICF International by 1.0% in the second quarter. United Services Automobile Association now owns 107,599 shares of the business services provider’s stock worth $7,833,000 after buying an additional 1,017 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in ICF International by 6.9% in the second quarter. UBS Asset Management Americas Inc. now owns 11,867 shares of the business services provider’s stock worth $864,000 after buying an additional 766 shares during the last quarter. Marshall Wace LLP increased its position in ICF International by 240.6% in the second quarter. Marshall Wace LLP now owns 104,159 shares of the business services provider’s stock worth $7,582,000 after buying an additional 73,574 shares during the last quarter. Paloma Partners Management Co purchased a new stake in ICF International in the second quarter worth $246,000. Finally, Marshall Wace North America L.P. increased its position in ICF International by 1,206.1% in the second quarter. Marshall Wace North America L.P. now owns 27,612 shares of the business services provider’s stock worth $2,010,000 after buying an additional 25,498 shares during the last quarter. 93.47% of the stock is owned by institutional investors and hedge funds.
ICF International Company Profile
ICF International Inc provides management, marketing, technology, and policy consulting and implementation services to government and commercial clients in the United States and internationally. The company researches critical policy, industry, stakeholder issues, trends, and behaviors; measures and evaluates results and their impact; and provides strategic planning and advisory services to its clients on how to navigate societal, market, business, communication, and technology challenges.
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