Zacks Research Weighs in on ICF International, Inc.’s Q1 2023 Earnings (NASDAQ:ICFI)

ICF International, Inc. (NASDAQ:ICFI – Get Rating) – Equities research analysts at Zacks Research boosted their Q1 2023 earnings per share (EPS) estimates for ICF International in a report released on Tuesday, March 14th. Zacks Research analyst A. Ganguly now expects that the business services provider will post earnings per share of $1.39 for the quarter, up from their previous forecast of $1.33. The consensus estimate for ICF International’s current full-year earnings is $6.30 per share. Zacks Research also issued estimates for ICF International’s Q4 2023 earnings at $1.64 EPS, FY2023 earnings at $6.32 EPS, Q1 2024 earnings at $1.65 EPS, Q2 2024 earnings at $1.62 EPS, Q3 2024 earnings at $1.85 EPS, Q4 2024 earnings at $1.81 EPS, FY2024 earnings at $6.93 EPS and FY2025 earnings at $8.19 EPS.

Several other research firms have also issued reports on ICFI. Barrington Research raised their price target on ICF International from $129.00 to $138.00 and gave the stock an “outperform” rating in a research report on Monday, March 6th. StockNews.com initiated coverage on ICF International in a report on Thursday. They set a “buy” rating on the stock.

ICF International Price Performance

ICFI opened at $108.54 on Thursday. The company has a fifty day moving average price of $103.46 and a two-hundred day moving average price of $106.10. The firm has a market capitalization of $2.03 billion, a PE ratio of 32.01 and a beta of 0.57. ICF International has a 52 week low of $88.98 and a 52 week high of $121.28. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.12.

ICF International (NASDAQ:ICFI – Get Rating) last issued its earnings results on Tuesday, February 28th. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.07. The company had revenue of $475.60 million for the quarter, compared to analyst estimates of $472.27 million. ICF International had a net margin of 3.61% and a return on equity of 13.31%. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.19 EPS.

Hedge Funds Weigh In On ICF International

Institutional investors and hedge funds have recently modified their holdings of the business. Captrust Financial Advisors lifted its stake in ICF International by 27.0% in the second quarter. Captrust Financial Advisors now owns 447 shares of the business services provider’s stock valued at $43,000 after buying an additional 95 shares in the last quarter. Quantbot Technologies LP acquired a new position in ICF International in the 2nd quarter worth $114,000. Dark Forest Capital Management LP increased its holdings in ICF International by 38.0% during the 2nd quarter. Dark Forest Capital Management LP now owns 2,118 shares of the business services provider’s stock worth $201,000 after purchasing an additional 583 shares in the last quarter. Hilton Capital Management LLC acquired a new stake in shares of ICF International in the 3rd quarter valued at about $206,000. Finally, Gabelli Funds LLC bought a new stake in shares of ICF International in the third quarter valued at about $218,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Srikant M. Datar sold 382 shares of the firm’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $112.00, for a total transaction of $42,784.00. Following the sale, the director now owns 2,807 shares of the company’s stock, valued at approximately $314,384. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is owned by company insiders.

ICF International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 13th. Stockholders of record on Friday, March 24th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, March 23rd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.52%. ICF International’s dividend payout ratio is 16.52%.

About ICF International

(Get Rating)

ICF International, Inc engages in the provision of professional services and technology-based solutions to government and commercial clients, including management, marketing, technology, and policy consulting and implementation services. The company was founded in 1969 and is headquartered in Reston, VA.