Economic consulting firm CRA International (NASDAQ: CRAI) will be announcing earnings results this Thursday before market hours. Here’s what to expect.
CRA beat analysts’ revenue expectations last quarter, reporting revenues of $201 million, up 10.5% year on year. It was a satisfactory quarter for the company, with a significant miss of analysts’ EPS estimates.
Is CRA a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting CRA’s revenue to grow 6.4% year on year, slowing from the 9% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. CRA has a history of exceeding Wall Street’s expectations.
Looking at CRA’s peers in the business process outsourcing & consulting segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Huron delivered year-on-year revenue growth of 15.4%, beating analysts’ expectations by 3.2%, and CBIZ reported flat revenue, falling short of estimates by 2.3%. Huron traded up 40.4% following the results while CBIZ was also up 18.3%.
Read our full analysis of Huron’s results here and CBIZ’s results here.
There has been positive sentiment among investors in the business process outsourcing & consulting segment, with share prices up 7.8% on average over the last month. CRA is up 20.5% during the same time and is heading into earnings with an average analyst price target of $252.50 (compared to the current share price of $180.65).
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