Navigant Consulting, Inc. (NCI) Trading Down 5.9% After Earnings Miss

Navigant Consulting, Inc. (NYSE:NCI) shares were down 5.9% on Thursday following a weaker than expected earnings announcement. The company traded as low as $15.23 and last traded at $16.36. Approximately 622,001 shares changed hands during trading, an increase of 97% from the average daily volume of 315,175 shares. The stock had previously closed at $17.38.

The business services provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). Navigant Consulting had a return on equity of 8.25% and a net margin of 4.35%. The business had revenue of $262.30 million during the quarter, compared to analysts’ expectations of $241.77 million. During the same quarter in the previous year, the business earned $0.37 EPS. The business’s revenue for the quarter was up 10.4% on a year-over-year basis.

A number of analysts have weighed in on NCI shares. Zacks Investment Research lowered Navigant Consulting from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 1st. ValuEngine lowered Navigant Consulting from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, BidaskClub lowered Navigant Consulting from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $24.00.

In other Navigant Consulting news, EVP Monica M. Weed sold 14,000 shares of the stock in a transaction on 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 document filed with the SEC, which is available at this hyperlink. Company insiders own 2.32% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of NCI. Victory Capital Management Inc. grew its position in shares of Navigant Consulting by 6.6% during the 1st 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 in the last quarter. United Services Automobile Association bought a new position in shares of Navigant Consulting during the 1st quarter worth $680,000. OppenheimerFunds Inc. grew its position in shares of Navigant Consulting by 61.4% during the 1st quarter. OppenheimerFunds Inc. now owns 34,394 shares of the business services provider’s stock worth $786,000 after buying an additional 13,088 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Navigant Consulting by 5.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 32,727 shares of the business services provider’s stock worth $747,000 after buying an additional 1,673 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Navigant Consulting by 5.9% during the 1st quarter. Legal & General Group Plc now owns 82,459 shares of the business services provider’s stock worth $1,885,000 after buying an additional 4,587 shares in the last quarter. 90.84% of the stock is currently owned by institutional investors and hedge funds.

The stock has a market cap of $782.26 million, a price-to-earnings ratio of 16.10 and a beta of 0.89. The stock has a 50-day moving average price of $16.68 and a 200-day moving average price of $18.59.

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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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