ICF International (NASDAQ:ICFI) Releases Quarterly Earnings Results, Beats Estimates By $0.33 EPS

ICF International (NASDAQ:ICFI) posted its quarterly earnings results on Thursday. The business services provider reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.33, Briefing.com reports. ICF International had a return on equity of 14.51% and a net margin of 4.74%. The firm had revenue of $494.44 million during the quarter, compared to analysts’ expectations of $487.95 million. During the same quarter in the previous year, the business earned $1.42 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. ICF International updated its FY24 guidance to $6.60-6.90 EPS.

ICF International Stock Up 1.5 %

NASDAQ ICFI opened at $148.43 on Friday. The stock has a 50 day moving average price of $148.24 and a 200-day moving average price of $139.88. ICF International has a one year low of $108.58 and a one year high of $158.00. The company has a market capitalization of $2.78 billion, a P/E ratio of 30.17 and a beta of 0.61. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.07 and a current ratio of 1.07.

ICF International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.14 per share. The ex-dividend date is Friday, June 7th. This represents a $0.56 annualized dividend and a dividend yield of 0.38%. ICF International’s dividend payout ratio (DPR) is 11.38%.

Insider Activity at ICF International

In other news, COO James C. M. Morgan sold 2,400 shares of ICF International stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $155.17, for a total value of $372,408.00. Following the completion of the transaction, the chief operating officer now owns 39,814 shares in the company, valued at approximately $6,177,938.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.38% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ICFI shares. Truist Financial boosted their price objective on shares of ICF International from $148.00 to $168.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $170.00 price target on shares of ICF International in a research report on Tuesday, February 20th. Finally, Barrington Research boosted their price target on ICF International from $145.00 to $173.00 and gave the company an “outperform” rating in a report on Monday, March 4th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, ICF International has an average rating of “Moderate Buy” and an average price target of $162.75.

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.