CRA International (NASDAQ:CRAI) announced that its board has initiated a share buyback plan, which permits the company to buyback $20.00 million in outstanding shares on Thursday, February 15th, EventVestor reports. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Shares of CRA International (CRAI) opened at $46.80 on Wednesday. CRA International has a 1-year low of $31.77 and a 1-year high of $49.31. The stock has a market cap of $379.83, a P/E ratio of 53.79 and a beta of 0.87.
CRA International (NASDAQ:CRAI) last released its quarterly earnings data on Thursday, February 15th. The business services provider reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.33. The firm had revenue of $97.00 million for the quarter, compared to analyst estimates of $89.60 million. CRA International had a net margin of 2.06% and a return on equity of 7.77%. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 EPS. equities research analysts forecast that CRA International will post 1.8 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Tuesday, February 27th will be paid a $0.17 dividend. The ex-dividend date is Monday, February 26th. This represents a $0.68 annualized dividend and a yield of 1.45%. CRA International’s dividend payout ratio is presently 78.16%.
A number of research firms have recently issued reports on CRAI. Zacks Investment Research upgraded shares of CRA International from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Friday, February 16th. ValuEngine lowered shares of CRA International from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, BidaskClub lowered shares of CRA International from a “buy” rating to a “hold” rating in a report on Thursday, January 25th.
In other CRA International news, Director Rowland Moriarty sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $46.10, for a total value of $461,000.00. Following the transaction, the director now owns 38,471 shares in the company, valued at approximately $1,773,513.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.70% of the stock is currently owned by corporate insiders.
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About CRA International
CRA International, Inc is a global consulting firm. The Company provides economic, financial and management consulting services. The Company consulting services in two areas: litigation, regulatory, and financial consulting and management consulting. The Company provides services, such as economic capability, analyses and testimony in areas, such as Antitrust & Competition; Damages & Valuation; Financial Accounting & Valuation; Financial Economics; Forensic & Cyber Investigations; Insurance Economics; Intellectual Property; International Arbitration; Labor & Employment; Mergers & Acquisitions; Regulatory Economics & Compliance; Securities & Financial Markets, and Transfer Pricing.
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