William Blair Comments on ICF International, Inc.’s FY2024 Earnings (NASDAQ:ICFI)

ICF International, Inc. (NASDAQ:ICFI) – Analysts at William Blair increased their FY2024 earnings per share (EPS) estimates for ICF International in a research note issued on Thursday, May 2nd. William Blair analyst T. Mulrooney now forecasts that the business services provider will earn $6.83 per share for the year, up from their previous forecast of $6.75. The consensus estimate for ICF International’s current full-year earnings is $6.80 per share.

ICF International (NASDAQ:ICFI) last announced its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.33. ICF International had a return on equity of 14.42% and a net margin of 4.74%. The business had revenue of $494.44 million during the quarter, compared to analyst estimates of $487.95 million. During the same period in the prior year, the company earned $1.42 earnings per share. ICF International’s revenue was up 2.3% compared to the same quarter last year.

ICFI has been the subject of several other reports. Barrington Research increased their price objective on ICF International from $145.00 to $173.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Truist Financial increased their price objective on ICF International from $148.00 to $168.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $170.00 target price on shares of ICF International in a research report on Tuesday, February 20th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.75.

ICF International Price Performance

Shares of NASDAQ ICFI opened at $151.01 on Monday. The stock has a fifty day simple moving average of $148.24 and a two-hundred day simple moving average of $139.98. ICF International has a 1-year low of $108.58 and a 1-year high of $158.00. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 30.69 and a beta of 0.61. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.50.

Institutional Investors Weigh In On ICF International

Large investors have recently added to or reduced their stakes in the business. Trust Point Inc. bought a new stake in ICF International during the fourth quarter valued at $995,000. Congress Asset Management Co. MA boosted its stake in ICF International by 17.1% during the third quarter. Congress Asset Management Co. MA now owns 258,384 shares of the business services provider’s stock valued at $31,215,000 after buying an additional 37,728 shares during the period. Strs Ohio boosted its stake in ICF International by 14.9% during the fourth quarter. Strs Ohio now owns 54,816 shares of the business services provider’s stock valued at $7,350,000 after buying an additional 7,100 shares during the period. Handelsbanken Fonder AB boosted its stake in ICF International by 26.2% during the fourth quarter. Handelsbanken Fonder AB now owns 4,822 shares of the business services provider’s stock valued at $647,000 after buying an additional 1,000 shares during the period. Finally, Neumeier Poma Investment Counsel LLC lifted its stake in ICF International by 63.9% during the third quarter. Neumeier Poma Investment Counsel LLC now owns 336,005 shares of the business services provider’s stock worth $40,593,000 after purchasing an additional 130,995 shares during the last quarter. Institutional investors own 94.12% of the company’s stock.

Insider Transactions at ICF International

In related news, COO James C. M. Morgan sold 2,400 shares of ICF International stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $155.17, for a total transaction of $372,408.00. Following the completion of the sale, the chief operating officer now owns 39,814 shares of the company’s stock, valued at $6,177,938.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.38% of the company’s stock.

ICF International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 7th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date is Friday, June 7th. ICF International’s payout ratio is currently 11.38%.

About ICF International

ICF International, Inc provides management, 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, business, market, business, communication, and technology challenges.