Zacks Investment Research upgraded shares of Navigant Consulting, Inc. (NYSE:NCI) from a strong sell rating to a hold rating in a research report report published on Tuesday morning.
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 analysts also recently issued reports about the company. ValuEngine downgraded Navigant Consulting from a buy rating to a hold rating in a report on Tuesday, August 1st. BidaskClub downgraded Navigant Consulting from a hold rating to a sell rating in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $24.00.
Navigant Consulting (NYSE NCI) traded down 0.87% during trading on Tuesday, hitting $17.16. The stock had a trading volume of 18,469 shares. Navigant Consulting has a 12 month low of $14.62 and a 12 month high of $27.86. The company’s 50 day moving average is $16.00 and its 200-day moving average is $19.05. The company has a market cap of $801.89 million, a PE ratio of 16.50 and a beta of 0.89.
Navigant Consulting (NYSE:NCI) last posted its earnings results on Monday, July 31st. The business services provider reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.09). Navigant Consulting had a net margin of 4.97% and a return on equity of 8.95%. 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 posted $0.33 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities research analysts predict that Navigant Consulting will post $1.15 earnings per share for the current year.
In other news, EVP Monica M. Weed sold 14,000 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $14.78, for a total value of $206,920.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.36% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. Capital Fund Management S.A. increased its position in Navigant Consulting by 21.9% in the 2nd quarter. Capital Fund Management S.A. now owns 47,400 shares of the business services provider’s stock valued at $937,000 after acquiring an additional 8,500 shares during the period. Legal & General Group Plc increased its position in Navigant Consulting by 8.2% in the 2nd quarter. Legal & General Group Plc now owns 89,228 shares of the business services provider’s stock valued at $1,763,000 after acquiring an additional 6,769 shares during the period. Schwab Charles Investment Management Inc. increased its position in Navigant Consulting by 41.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 414,618 shares of the business services provider’s stock valued at $9,479,000 after acquiring an additional 121,177 shares during the period. Goldman Sachs Group Inc. increased its position in Navigant Consulting by 10.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 284,601 shares of the business services provider’s stock valued at $6,506,000 after acquiring an additional 25,836 shares during the period. Finally, Municipal Employees Retirement System of Michigan increased its position in Navigant Consulting by 2.2% in 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 acquiring an additional 310 shares during the period. 91.61% of the stock is owned by institutional investors and hedge funds.
About Navigant Consulting
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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