Booz Allen Unveils Resilience Program to Combat Coronavirus
Booz Allen Hamilton Holding Corporation BAH today announced that it has committed more than $100 million to support its employees and their surrounding communities through a pandemic resilience program.
The program aims at enabling the company’s employees to continue working with government and commercial clients, while taking care of themselves and their families amid coronavirus-induced challenging conditions.
Notably, Booz Allen’s shares have been down 2.1%, year to date, compared with the 11% decline of the industry it belongs to.
Focus Areas
The initiative encompasses major benefit program enhancements for employees tackling health, childcare and coronavirus-related problems, a commitment of job security at least through Jul 1, and provision of funding, assistance and technology support to veterans, military families and frontline healthcare workers.
"These moves will help protect the health and financial security of our people, their loved ones and their communities during a very uncertain, difficult time," said Horacio Rozanski, Booz Allen president and CEO.
To channelize the $100 million, Booz Allen will reallocate its budget and prioritize employment security and benefits, eliminate events and overhead expenses, and stop recruiting in non-billable departments.
Additionally, the company and the independent Booz Allen Foundation rolled out a coordinated humanitarian initiative this week to address pandemic-related issues. Booz Allen plans to contribute strategic planning, digital modernization, cyber and analytic capabilities through the year to fight the impact of the pandemic.
Zacks Rank and Other Stocks to Consider
Booz Allen currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader Zacks Business Services sector are Charles River Associates CRAI, Genpact Limited G and Blucora, Inc. BCOR, each carrying a Zacks Rank #2, at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The long-term expected EPS (three to five years) growth rate for Charles River, Genpact and Blucora is 13%, 14% and 20%, respectively.
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Charles River Associates (CRAI) : Free Stock Analysis Report
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