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Reasons to Retain ICF International (ICFI) in Your Portfolio
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ICF International, Inc.’s (ICFI - Free Report) shares have gained 19.2% over the past three months, outperforming the 0.8% rise of the industry it belongs to. The company’s earnings are expected to increase 8.9% in 2022 and 11.1% in 2023, year over year.
ICF is seeing robust growth in its service revenues, driven by strength in IT modernization and digitization, disaster management, public health, and utility consulting services. Service revenues registered growth of 8.9% for the first quarter of 2022.
The company is doing well in terms of contract awards. It received $2.25 billion in contract awards in 2021, which increased by 15% year over year. ICF continues to witness an increase in demand for its advisory services, driven by trends such as increased government focus on environmental initiatives; emphasis on transparency and accountability; efficiency and mission performance management; generational changes; and increased demand for integrating domain knowledge of client mission and programs with innovative technology-enabled solutions.
The January 2022 buyout of Creative Systems and Consulting has expanded ICF International’s federal IT modernization/digital transformation capabilities with leading Salesforce and Microsoft implementation teams.
Some Risks
ICF International sees an escalation in costs as it is making significant investments in internal infrastructure and acquisitions. The company’s operating expenses increased by 3.9% in 2021. These expenses rose 5.1% year over year in 2020 and 9.2% in 2019.
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Reasons to Retain ICF International (ICFI) in Your Portfolio
ICF International, Inc.’s (ICFI - Free Report) shares have gained 19.2% over the past three months, outperforming the 0.8% rise of the industry it belongs to. The company’s earnings are expected to increase 8.9% in 2022 and 11.1% in 2023, year over year.
ICF International, Inc. Price
ICF International, Inc. price | ICF International, Inc. Quote
Factors That Auger Well
ICF is seeing robust growth in its service revenues, driven by strength in IT modernization and digitization, disaster management, public health, and utility consulting services. Service revenues registered growth of 8.9% for the first quarter of 2022.
The company is doing well in terms of contract awards. It received $2.25 billion in contract awards in 2021, which increased by 15% year over year. ICF continues to witness an increase in demand for its advisory services, driven by trends such as increased government focus on environmental initiatives; emphasis on transparency and accountability; efficiency and mission performance management; generational changes; and increased demand for integrating domain knowledge of client mission and programs with innovative technology-enabled solutions.
ICF International, Inc. Revenue (TTM)
ICF International, Inc. revenue-ttm | ICF International, Inc. Quote
The January 2022 buyout of Creative Systems and Consulting has expanded ICF International’s federal IT modernization/digital transformation capabilities with leading Salesforce and Microsoft implementation teams.
Some Risks
ICF International sees an escalation in costs as it is making significant investments in internal infrastructure and acquisitions. The company’s operating expenses increased by 3.9% in 2021. These expenses rose 5.1% year over year in 2020 and 9.2% in 2019.
Zacks Rank and Stocks to Consider
ICF currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Investors interested in the broader Zacks Business Services sector can consider stocks like Avis Budget Group (CAR - Free Report) ,Cross Country Healthcare (CCRN - Free Report) and Automatic Data Processing (ADP - Free Report) .
Avis Budget sports a Zacks Rank #1 (Strong Buy) at present. CAR has a long-term earnings growth expectation of 19.4%.
Avis Budget delivered a trailing four-quarter earnings surprise of 102%, on average.
Cross Country Healthcare sports a Zacks Rank of 1. CCRN has a long-term earnings growth expectation of 6.9%.
Cross Country Healthcare delivered a trailing four-quarter earnings surprise of 29.2%, on average.
Automatic Data Processing carries a Zacks Rank of 2 currently. ADP has a long-term earnings growth expectation of 12%.
Automatic Data Processing delivered a trailing four-quarter earnings surprise of 6.2%, on average.