ICF International (NASDAQ:ICFI) Stock, Quote.Headers.trade-ideas

ICF International

ICF International Inc provides professional services and technology-based solutions to government and commercial clients, including management, marketing, technology, and policy consulting and implementation services. Its services support clients that operate in four key markets that include Energy, Environment, Infrastructure and Disaster Recovery; Health and Social Programs and Security and Other Civilian & Commercial. The Company's majority clients are United States federal government departments and agencies. It operates in single segment, which is providing professional services.

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Analyst Color

Barrington Hikes ICF Price Target By ~3%

ICF International Inc

Barrington Research analyst Kevin Steinke maintains ICF International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICFI#NASDAQ">ICFI</a>) with a Outperform and maintains $174 price target.

Barrington Research Maintains Outperform on ICF International, Maintains $174 Price Target

Barrington Research analyst Kevin Steinke maintains ICF International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICFI#NASDAQ">ICFI</a>) with a Outperform and raises the price target from $173 to $174.

Barrington Research Maintains Outperform on ICF International, Raises Price Target to $174

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Shares of companies within the broader industrial sector are trading lower amid overall market weakness on US economic concerns. An economic slowdown could impact demand.

ICF International shares are trading higher after the company reported better-than-expected Q2 financial results and issued FY24 EPS guidance above estimates.

U.S. stocks were lower, with the Dow Jones index falling over 900 points on Friday.
Shares of MercadoLibre, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>) rose sharply during Friday's session after the company reported better-than-expected quarterly financial results.
Mercado Libre reported net revenue of $5.07 billion in the second quarter, up 42% year-over-year. The revenue beat a Street consensus estimate of $4.68 billion, according to data from Benzinga Pro.
The company reported a 36% year-over-year increase in total payment volume for the second quarter and a 20% year-over-year rise in gross merchandise volume. Earnings per share were $10.48 in the second quarter, beating a Street consensus estimate of $8.43.
MercadoLibre shares jumped 9.6% to $1,760.79 on Friday.
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<li>Fitell Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTEL#NASDAQ">FTEL</a>) gained 26% to $24.50.</li>
<li>Tandem Diabetes Care, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNDM#NASDAQ">TNDM</a>) shares surged 23.6% to $43.52 in pre-market trading following better-than-expected second-quarter earnings and strong guidance.</li>
<li>Cerus Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CERS#NASDAQ">CERS</a>) gained 23% to $2.5200  after the company reported better-than-expected second-quarter EPS results and raised its FY24 product revenue guidance above estimates..</li>
<li>Integral Ad Science Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IAS#NASDAQ">IAS</a>) shares gained 14.9% to $11.38 after the company reported better-than-expected quarterly financial results and issued FY24 revenue guidance above estimates.</li>
<li>Willdan Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WLDN#NASDAQ">WLDN</a>) climbed 10.1% to $36.52 after the company reported better-than-expected second-quarter financial results.</li>
<li>Fresh Del Monte Produce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDP#NYSE">FDP</a>) gained 8.6% to $26.73 following better-than-expected earnings.</li>
<li>ICF International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICFI#NASDAQ">ICFI</a>) rose 8.3% to $158.06 following upbeat quarterly results.</li>
<li>EZCORP, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EZPW#NASDAQ">EZPW</a>) jumped 8.2% to $11.35.</li>
<li>Standard BioTools Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAB#NYSE">LAB</a>) gained 7.7% to $1.530.</li>
<li>Bright Horizons Family Solutions Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BFAM#NYSE">BFAM</a>) gained 7.5% to $127.32 following strong quarterly results.</li>
<li>DoorDash, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>) rose 6.7% to $115.52 as the company posted upbeat earnings.</li>
<li>GoDaddy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDDY#NYSE">GDDY</a>) jumped 5.8% to $149.66 after the company reported better-than-expected second-quarter sales results..</li>
<li>The Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>) gained 4.3% to $139.94 after the company reported better-than-expected fourth-quarter adjusted EPS results and issued FY24 adjusted EPS guidance above estimates.</li>
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Summary and Outlook
&quot;Following our strong year-to-date performance and based on our current visibility for continued favorable business mix and utilization metrics, we are pleased to increase our earnings per share and adjusted EBITDA guidance for full year 2024. Our revised guidance is for GAAP EPS in the range of $5.60 to $5.90 and Non-GAAP EPS of $6.95 to $7.25, up $0.35 from prior guidance and representing year-on-year growth of 32.2% and 9.2%, respectively, at the midpoints. Adjusted EBITDA is now expected to range between $225 million and $235 million, up from our prior guidance of $220 million to $230 million. The midpoint of this range will result in ICF achieving the three-year EBITDA objective we provided at our 2022 Investor Day adjusted for the 2023 divestitures, and we expect to accomplish this with substantially fewer acquisitions than originally contemplated.
&quot;Our first half results have put us on track to achieve our full year revenue guidance for 2024. Based on our current visibility, we expect our Energy, Environment, Infrastructure and Disaster Recovery client market to show robust growth in the second half of this year, continuing to more than offset results in our Health and Social Programs client market, where gross revenue comparisons have been impacted by lower pass-through revenues. Operating cash flow guidance remains at approximately $155 million.
&quot;A growing backlog and our record business development pipeline of $10.5 billion at the end of the second quarter support our expectations for continued strong growth in 2024 and give us confidence in ICF&#39;s ability to continue to grow at a high single-digit rate in the coming years. We are experiencing high demand from commercial clients for our energy and environmental expertise and implementation skills. We have excellent credentials to assist state and local government clients in meeting their planning, resilience and mitigation objectives, as well as supporting their disaster recovery efforts. We also have significantly expanded our capabilities in areas in the federal government that have bipartisan support, particularly IT modernization, which remains an area of priority spending.
&quot;We appreciate the tremendous contributions of our staff in driving the success of ICF by supporting our clients with multi-disciplinary advisory work and cross-cutting implementation skills. Their passion for their work and for the impact it has on society is ICF&#39;s &#39;secret sauce&#39;,&quot; Mr. Wasson concluded.
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<td colspan="1" rowspan="1">1&nbsp;Non-GAAP EPS, EBITDA, and Adjusted EBITDA are non-GAAP measurements. A reconciliation of all non-GAAP measurements to the most applicable GAAP number is set forth below. GAAP EPS refers to U.S. GAAP Diluted EPS. Non-GAAP EPS refers to Non-GAAP Diluted EPS. Special charges are items that were included within our consolidated statements of comprehensive income but are not indicative of ongoing performance and have been presented net of applicable U.S. GAAP taxes. The presentation of non-GAAP measurements may not be comparable to other similarly titled measures used by other companies.</td>
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</table>

Guidance

ICF International Sees FY24 EPS $6.95-$7.25 Vs $6.77 Est.

ICF International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICFI#NASDAQ">ICFI</a>) reported quarterly earnings of $1.69 per share which beat the analyst consensus estimate of $1.49 by 13.42 percent. This is a 7.64 percent increase over earnings of $1.57 per share from the same period last year. The company reported quarterly sales of $512.33 million which beat the analyst consensus estimate of $505.79 million by 1.29 percent. This is a 2.45 percent increase over sales of $500.08 million the same period last year.

Earnings

Earnings Beats

ICF International Q2 Adj $1.69 Beats $1.49 Estimate, Sales $512.33M Beat $505.79M Estimate

ICF to Deliver Equitable, Clean Energy Programs to One of the Largest Counties in the Nation
RESTON, Va., July 30, 2024 /PRNewswire/ -- The Los Angeles County Southern California Regional Energy Network (SoCalREN) recently awarded a contract to global consulting and technology services provider ICF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICFI#NASDAQ">ICFI</a>) to design and deliver their full portfolio of residential energy efficiency programs. The recompete contract has a value of $17 million and a term of nearly three years.&nbsp;&nbsp;

Contracts

LA County Awards ICF ~3-Year $17M Energy Efficiency Contract To Design And Deliver Their Full Portfolio Of Residential Energy Efficiency Programs

ICF Awarded $84M Contract To Expand Disaster Management And Recovery Services In Puerto Rico; Three-Year Contract Administered By COR3

ICF Awarded $1.4B BPA By Defense Human Resources Agency To Modernize Defense Manpower Data Center With Cloud Solutions; One Of 10 Vendors Selected For Multiple Task Areas

ICF to Build Data Exchange Platform to Improve Disaster Response Efficiency

ICF Wins $17M Cloud And Analytics Delivery Contract From FEMA

Cloud Data Migration Will Optimize Healthcare Delivery and Patient Care
RESTON, Va., July 18, 2024 /PRNewswire/ -- ICF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICFI#NASDAQ">ICFI</a>), a global consulting and technology services provider, was recently awarded a new subcontract to continue modernizing and executing the Centers for Medicare and Medicaid Services (CMS) Quality Payment Program (QPP). The contract has a value of $88 million and a term of nearly five years, including a six-month base, four one-year option periods and one four-month option period.

ICF Selected For $88M, ~5-Year Agreement To Support CMS Digital Modernization Work

ICF International's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICFI#NYSE">ICFI</a>) short percent of float has risen 13.75% since its last report. The company recently reported that it has 167 thousand shares sold short, which is 0.91% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.08 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>ICF International Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721222111_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for ICF International has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing ICF International's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, ICF International's peer group average for short interest as a percentage of float is 3.68%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into ICF International's Recent Short Interest

ICF International shares are trading lower after Truist Securities downgraded the stock from Buy to Hold and lowered its price target from $168 to $155.

Truist Securities analyst Tobey Sommer downgrades ICF International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICFI#NASDAQ">ICFI</a>) from Buy to Hold and lowers the price target from $168 to $155.

Downgrades

Truist Securities Downgrades ICF International to Hold, Lowers Price Target to $155

Barrington Research analyst Kevin Steinke maintains ICF International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICFI#NASDAQ">ICFI</a>) with a Outperform and maintains $173 price target.

Barrington Research Maintains Outperform on ICF International, Maintains $173 Price Target

U.S. Environmental Protection Agency Awards $75M Risk Assessment Contract to ICF

Company to Deliver Demographic and Health Survey to Improve Health Outcomes
RESTON, Va., May 7, 2024 /PRNewswire/ --&nbsp;The U.S. Agency for International Development (USAID) Bureau for Global Health has awarded global consulting and technology services provider ICF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICFI#NASDAQ">ICFI</a>) a five-year, $236&nbsp;million recompete contract to continue to deliver their <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4160580-1&amp;h=2111343573&amp;u=https%3A%2F%2Fwww.dhsprogram.com%2F&amp;a=Demographic+and+Health+Surveys+(DHS)+Program">Demographic and Health Surveys (DHS) Program</a>, which is considered globally as the "gold standard" of health surveys.
ICF has supported the DHS Program since its inception 40 years ago, helping grow it into the world's premier source of critical and actionable data for population, health and nutrition programs. Survey data is used by national governments, international organizations, researchers and others to support strategic planning, policymaking, financing, program management and more.
ICF's delivery approach&nbsp;is focused on strengthening the capacity of participating countries to collect, analyze and disseminate their data and integrate inclusive approaches that take vulnerable and marginalized populations into consideration. ICF will also incorporate technology and other program innovations to increase survey automation and efficiency, including the selective adoption of artificial intelligence in accordance with requirements of country ownership and safeguarding sensitive data.
"The DHS Program has been instrumental in advancing our collective understanding of global health and its impact on populations, particularly in low- and middle-income countries," said Jennifer Welham, senior vice president for health, people and human services, "We are proud to continue our decades-long partnership with USAID by providing leading-edge health, survey research and data management expertise to support the development of effective health policies and interventions. Together, we are improving the well-being and quality of life for people and communities around the world."

USAID Awards ICF $236M Global Health Contract

ICF International Expects 2024 Organic Revenues Of $2.03B-$2.10B Vs. $2.06B Estimate; Projects FY24 Adjusted EPS Of $6.60-$6.90 Vs. $6.75 EPS

ICF International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICFI#NASDAQ">ICFI</a>) reported quarterly earnings of $1.77 per share which beat the analyst consensus estimate of $1.46 by 21.23 percent. This is a 24.65 percent increase over earnings of $1.42 per share from the same period last year. The company reported quarterly sales of $494.44 million which beat the analyst consensus estimate of $487.93 million by 1.33 percent. This is a 2.31 percent increase over sales of $483.28 million the same period last year.

ICF International Q1 Adj $1.77 Beats $1.46 Estimate, Sales $494.44M Beat $487.93M Estimate

ICF awarded $84M grants management contract

LA Country awards ICF $17M energy efficiency contract

ICF International Non-GAAP EPS of $1.69 beats by $0.20, revenue of $512M beats by $6.3M

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
ICF International (NASDAQ:<a href="https://investorplace.com/stock-quotes/icfi-stock-quote/">ICFI</a>) just reported results for the second quarter of 2024.<ul><li>ICF International reported earnings per share of $1.69. This was above the analyst estimate for EPS of $1.49.</li><li>The company reported revenue of $512.03 million.</li><li>This was 1.23% better than the analyst estimate for revenue of $505.79 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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									</ul>The post <a href="https://investorplace.com/earning-results/2024/08/icfi-stock-earnings-icf-international-for-q2-of-2024/">ICFI Stock Earnings: ICF International Beats EPS, Beats Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

ICFI Stock Earnings: ICF International Beats EPS, Beats Revenue for Q2 2024

ICF International declares $0.14 dividend

Truist Financial analyst Tobey Sommer maintained a Hold rating on Icf International (ICFI – Research Report) today and set a price target of $155.0...

Icf International (ICFI) Receives a Rating Update from a Top Analyst

ICF International, Inc. (ICFI) Q2 2024 Earnings Call Transcript

Kevin Steinke, an analyst from Barrington, reiterated the Buy rating on Icf International (ICFI – Research Report). The associated price target was...

Buy Rating for ICF International Amid Strong Growth and Financial Performance

Invesco Small Cap Equity Fund Q2 2024 Review

In a report released today, Kevin Steinke from Barrington maintained a Buy rating on Icf International (ICFI – Research Report), with a price targe...

Buy Rating Affirmed: ICF International's Strong Growth Drivers and Financial Performance

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Press Releases

FEMA Awards ICF New $17 Million Cloud and Analytics Delivery Contract

ICF to Present at the Canaccord Genuity 44th Annual Growth Conference

DOD Awards ICF New $1.4 Billion Applications and Data Services Modernization BPA

Puerto Rico Awards ICF $84 Million Grants Management Contract

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LA County Awards ICF $17 Million Energy Efficiency Contract

ICF Reports Second Quarter 2024 Results

Comstock Announces GuidePoint Security Lease at Reston Metro Plaza

Forbes Ranks ICF One of America's Best Employers for Women

ICF Appoints New Digital Modernization Leader

ICF Announces Timing of Third Quarter 2024 Earnings Release and Conference Call

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ICF International

ICF International (ICFI) Forecast

ICF International (NASDAQ:ICFI) Stock, Quote.Headers.trade-ideas