Zacks Reiterates Neutral Rating for FTI Consulting (FCN)
FTI Consulting (NYSE:FCN)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Monday. They currently have a $39.00 price target on the stock. Zacks‘s price objective suggests a potential upside of 5.15% from the company’s current price.
Zacks’ analyst wrote, “FTI Consulting reported strong second quarter 2014 results as adjusted earnings and revenues increased year over year and exceeded the respective Zacks Consensus Estimates. The company’s strategy to expand through acquisitions, particularly in the international markets, remains one of its key growth drivers. In addition, management’s plan to drive profitability by restructuring the business and enhancing shareholders’ value through share repurchase is likely to be favorable. However, increased competition, pricing pressure due to market volatility and high exposure to foreign exchange rate risk undermine its growth prospects to some extent. Nevertheless, we maintain our long-term Neutral recommendation on the stock.”
FTI Consulting (NYSE:FCN) traded down 0.27% on Monday, hitting $36.99. 141,995 shares of the company’s stock traded hands. FTI Consulting has a 1-year low of $28.23 and a 1-year high of $46.73. The stock has a 50-day moving average of $37.03 and a 200-day moving average of $34.15. The company’s market cap is $1.468 billion.
FTI Consulting (NYSE:FCN) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. The company had revenue of $454.30 million for the quarter, compared to the consensus estimate of $445.34 million. During the same quarter in the previous year, the company posted $0.58 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts expect that FTI Consulting will post $1.70 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on FCN. Analysts at Macquarie upgraded shares of FTI Consulting from a “neutral” rating to an “outperform” rating in a research note on Monday, June 23rd. Analysts at Deutsche Bank raised their price target on shares of FTI Consulting from $30.00 to $36.00 in a research note on Tuesday, June 17th. They now have a “hold” rating on the stock.
FTI Consulting, Inc (NYSE:FCN) is a global business advisory firm.
To view Zacks’ full report, visit Zacks’ official website.
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