Navigant Consulting, Inc. (NYSE:NCI) Downgraded to Sell at BidaskClub
Navigant Consulting, Inc. (NYSE:NCI) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report issued on Friday.
Several other brokerages also recently commented on NCI. TheStreet downgraded shares of Navigant Consulting from a “b” rating to a “c+” rating in a report on Friday, May 12th. Zacks Investment Research downgraded shares of Navigant Consulting from a “hold” rating to a “strong sell” rating in a report on Tuesday. ValuEngine downgraded shares of Navigant Consulting from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Cowen and Company raised their price target on shares of Navigant Consulting from $16.50 to $24.00 and gave the company an “outperform” rating in a report on Friday, June 9th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $24.50.
Navigant Consulting (NYSE NCI) traded down 1.54% during midday trading on Friday, reaching $16.01. The company’s stock had a trading volume of 358,254 shares. The company has a market cap of $754.26 million, a PE ratio of 15.39 and a beta of 0.83. Navigant Consulting has a 12 month low of $16.00 and a 12 month high of $27.86. The stock has a 50-day moving average price of $19.61 and a 200 day moving average price of $21.82.
Navigant Consulting (NYSE:NCI) last announced its quarterly earnings results on Monday, July 31st. The business services provider reported $0.24 EPS 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 the consensus estimate of $253.66 million. During the same period in the previous year, the business earned $0.33 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. Analysts expect that Navigant Consulting will post $1.15 earnings per share for the current fiscal year.
Navigant Consulting declared that its Board of Directors has approved a stock buyback plan on Wednesday, May 3rd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the business services provider to repurchase up to 9.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Navigant Consulting by 44,959.5% in the first quarter. BlackRock Inc. now owns 5,737,425 shares of the business services provider’s stock valued at $131,156,000 after buying an additional 5,724,692 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Navigant Consulting by 5.6% in the first quarter. Vanguard Group Inc. now owns 4,237,826 shares of the business services provider’s stock valued at $96,877,000 after buying an additional 225,913 shares during the last quarter. Boston Partners increased its position in shares of Navigant Consulting by 2.6% in the second quarter. Boston Partners now owns 1,262,761 shares of the business services provider’s stock valued at $24,952,000 after buying an additional 32,432 shares during the last quarter. State Street Corp increased its position in shares of Navigant Consulting by 8.5% in the first quarter. State Street Corp now owns 1,165,014 shares of the business services provider’s stock valued at $26,626,000 after buying an additional 91,546 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Navigant Consulting during the fourth quarter valued at approximately $23,835,000. 94.05% of the stock is owned by hedge funds and other institutional investors.
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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