Navigant Consulting, Inc. (NYSE:NCI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “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. Stiff competition due to low barriers to entry remains another impediment to growth. Navigant has also underperformed the industry year to date. 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. Navigant is also developing data analytic tools across multiple groups to meet the growing demand for technology-enabled solutions that can help clients address most of the market challenges.”
Other research analysts also recently issued reports about the stock. ValuEngine downgraded shares of Navigant Consulting from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub downgraded shares of Navigant Consulting from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $24.00.
Navigant Consulting (NYSE:NCI) last issued its earnings results on Monday, July 31st. The business services provider reported $0.24 EPS for the quarter, missing the consensus estimate 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 firm earned $0.33 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, analysts expect that Navigant Consulting will post $1.15 earnings per share for the current year.
In other Navigant Consulting news, EVP Monica M. Weed sold 14,000 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $14.78, for a total transaction of $206,920.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.36% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the business. Louisiana State Employees Retirement System increased its position in Navigant Consulting by 0.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 19,200 shares of the business services provider’s stock valued at $379,000 after purchasing an additional 100 shares during the period. PNC Financial Services Group Inc. increased its position in Navigant Consulting by 0.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 32,857 shares of the business services provider’s stock valued at $650,000 after purchasing an additional 130 shares during the period. Arizona State Retirement System increased its position in Navigant Consulting by 0.8% during the 1st quarter. Arizona State Retirement System now owns 24,422 shares of the business services provider’s stock valued at $558,000 after purchasing an additional 200 shares during the period. Municipal Employees Retirement System of Michigan increased its position in Navigant Consulting by 2.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 14,700 shares of the business services provider’s stock valued at $291,000 after purchasing an additional 310 shares during the period. Finally, Aperio Group LLC increased its position in Navigant Consulting by 1.7% during the 2nd quarter. Aperio Group LLC now owns 20,829 shares of the business services provider’s stock valued at $412,000 after purchasing an additional 350 shares during the period. 91.61% 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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