Navigant Consulting, Inc. (NYSE:NCI) Rating Lowered to Strong Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Navigant Consulting, Inc. (NYSE:NCI) from a hold rating to a strong sell rating in a research report report published on Tuesday, August 1st.

According to Zacks, “Navigant reported lackluster second-quarter 2017 results with year-over-year decrease in earnings and revenues that also missed the respective Zacks Consensus Estimates.  Navigant continues to face challenges on both the domestic and international fronts. This is primarily attributable to the difficulties in managing and staffing foreign operations, relatively limited new assignments, currency fluctuations and regulatory stringencies due to the uncertainty in the global economy. The company has grossly underperformed the industry year to date. Navigant has also lowered its guidance for 2017 on challenging market conditions. However, Navigant continues to focus on cost-streamlining and restructuring activities to better align its capacity with market demand. The company expects its future growth to primarily come from expanded capabilities in the healthcare and energy sectors.”

NCI has been the topic of a number of other reports. Cowen and Company increased their price target on shares of Navigant Consulting from $16.50 to $24.00 and gave the stock an outperform rating in a report on Friday, June 9th. TheStreet downgraded shares of Navigant Consulting from a b rating to a c+ rating in a report on Friday, May 12th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of Hold and an average target price of $24.50.

Shares of Navigant Consulting (NYSE NCI) opened at 14.92 on Tuesday. The firm has a market capitalization of $697.21 million, a P/E ratio of 14.35 and a beta of 0.83. The stock’s 50 day moving average price is $18.04 and its 200 day moving average price is $21.02. Navigant Consulting has a 52 week low of $14.71 and a 52 week high of $27.86.

Navigant Consulting (NYSE:NCI) last announced its quarterly earnings results on Monday, July 31st. The business services provider reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by $0.09. Navigant Consulting had a return on equity of 8.95% and a net margin of 4.97%. The firm had revenue of $235.20 million during the quarter, compared to analysts’ expectations of $253.66 million. During the same period in the previous year, the company posted $0.33 earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, analysts predict that Navigant Consulting will post $1.15 EPS for the current fiscal year.

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Navigant Consulting announced that its Board of Directors has authorized a share repurchase plan on Wednesday, May 3rd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 9.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

A number of large investors have recently made changes to their positions in NCI. State of Alaska Department of Revenue increased its stake in shares of Navigant Consulting by 1.4% in the first quarter. State of Alaska Department of Revenue now owns 5,200 shares of the business services provider’s stock worth $118,000 after buying an additional 70 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Navigant Consulting by 6.6% in the first quarter. Victory Capital Management Inc. now owns 5,872 shares of the business services provider’s stock worth $134,000 after buying an additional 362 shares during the last quarter. Flinton Capital Management LLC boosted its position in shares of Navigant Consulting by 59.5% in the second quarter. Flinton Capital Management LLC now owns 6,290 shares of the business services provider’s stock worth $124,000 after buying an additional 2,346 shares during the last quarter. USA Financial Portformulas Corp acquired a new position in shares of Navigant Consulting during the fourth quarter worth approximately $248,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of Navigant Consulting during the second quarter worth approximately $204,000. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Navigant Consulting Company Profile

Navigant Consulting, Inc is a global professional services company. The Company serves clients in the healthcare, energy and financial services industries. It operates through four segments. The Healthcare segment provides consulting services and business process management services. The Energy segment provides advisory solutions in business strategy and planning, distributed energy resources and renewables, energy efficiency and demand response and grid modernization The Financial Services Advisory and Compliance segment provides strategic, operational, valuation, risk management, investigative and compliance advisory services to clients primarily in the financial services industry.

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