Yahoo Finance Results: ICF International, Inc. Exceeded Expectations And The Consensus Has Updated Its Estimates
It's been a good week for ICF International, Inc. (NASDAQ:ICFI) shareholders, because the company has just released its latest first-quarter results, and the shares gained 4.6% to US$148. It looks like a credible result overall - although revenues of US$494m were what the analysts expected, ICF International surprised by delivering a (statutory) profit of US$1.44 per share, an impressive 29% above what was forecast. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.
View our latest analysis for ICF International
Following the latest results, ICF International's five analysts are now forecasting revenues of US$2.06b in 2024. This would be a satisfactory 4.5% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to rise 9.1% to US$5.45. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$2.06b and earnings per share (EPS) of US$5.39 in 2024. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.
The consensus price target rose 14% to US$172despite there being no meaningful change to earnings estimates. It could be that the analystsare reflecting the predictability of ICF International's earnings by assigning a price premium. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. Currently, the most bullish analyst values ICF International at US$187 per share, while the most bearish prices it at US$160. Even so, with a relatively close grouping of estimates, it looks like the analysts are quite confident in their valuations, suggesting ICF International is an easy business to forecast or the the analysts are all using similar assumptions.
Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. The period to the end of 2024 brings more of the same, according to the analysts, with revenue forecast to display 6.1% growth on an annualised basis. That is in line with its 7.3% annual growth over the past five years. Juxtapose this against our data, which suggests that other companies (with analyst coverage) in the industry are forecast to see their revenues grow 5.7% per year. It's clear that while ICF International's revenue growth is expected to continue on its current trajectory, it's only expected to grow in line with the industry itself.
The Bottom Line
The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. Happily, there were no real changes to revenue forecasts, with the business still expected to grow in line with the overall industry. There was also a nice increase in the price target, with the analysts clearly feeling that the intrinsic value of the business is improving.
Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. We have forecasts for ICF International going out to 2025, and you can see them free on our platform here.
Don't forget that there may still be risks. For instance, we've identified 1 warning sign for ICF International that you should be aware of.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
