Zacks: Analysts Anticipate FTI Consulting, Inc. (FCN) to Post $0.53 EPS
Analysts expect FTI Consulting, Inc. (NYSE:FCN) to post earnings of $0.53 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for FTI Consulting’s earnings, with estimates ranging from $0.50 to $0.57. FTI Consulting posted earnings of $0.66 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 19.7%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Thursday, July 27th.
According to Zacks, analysts expect that FTI Consulting will report full year earnings of $1.95 per share for the current financial year, with EPS estimates ranging from $1.90 to $2.00. For the next financial year, analysts anticipate that the company will post earnings of $2.12 per share, with EPS estimates ranging from $2.00 to $2.18. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for FTI Consulting.
FTI Consulting (NYSE:FCN) last issued its quarterly earnings results on Thursday, April 27th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by $0.26. The business had revenue of $446.30 million for the quarter, compared to analysts’ expectations of $461.08 million. FTI Consulting had a return on equity of 6.06% and a net margin of 3.88%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.83 EPS.
Several analysts recently issued reports on the company. BidaskClub downgraded FTI Consulting from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Deutsche Bank AG lowered their price target on FTI Consulting from $47.00 to $38.00 and set a “hold” rating for the company in a report on Friday, April 28th. Finally, Zacks Investment Research downgraded FTI Consulting from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. FTI Consulting presently has a consensus rating of “Hold” and a consensus target price of $45.00.
In related news, CEO Steven Henry Gunby purchased 30,000 shares of the stock in a transaction that occurred on Friday, April 28th. The stock was purchased at an average cost of $34.51 per share, for a total transaction of $1,035,300.00. Following the acquisition, the chief executive officer now owns 166,043 shares in the company, valued at $5,730,143.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.03% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. First Citizens Bank & Trust Co. boosted its position in FTI Consulting by 46.2% in the second quarter. First Citizens Bank & Trust Co. now owns 10,414 shares of the business services provider’s stock worth $364,000 after buying an additional 3,291 shares during the last quarter. State Treasurer State of Michigan boosted its position in FTI Consulting by 1.8% in the second quarter. State Treasurer State of Michigan now owns 17,000 shares of the business services provider’s stock worth $594,000 after buying an additional 300 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in FTI Consulting by 3.8% in the second quarter. Louisiana State Employees Retirement System now owns 10,800 shares of the business services provider’s stock worth $378,000 after buying an additional 400 shares during the last quarter. LS Investment Advisors LLC boosted its position in FTI Consulting by 17.4% in the second quarter. LS Investment Advisors LLC now owns 3,307 shares of the business services provider’s stock worth $116,000 after buying an additional 491 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in FTI Consulting by 4.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 15,364 shares of the business services provider’s stock worth $537,000 after buying an additional 593 shares during the last quarter. Hedge funds and other institutional investors own 96.10% of the company’s stock.
Shares of FTI Consulting (NYSE:FCN) traded down 0.96% during trading on Monday, reaching $33.10. The company’s stock had a trading volume of 214,896 shares. The company has a 50 day moving average price of $34.17 and a 200 day moving average price of $38.28. The firm has a market capitalization of $1.34 billion, a P/E ratio of 19.88 and a beta of 0.29. FTI Consulting has a 52 week low of $32.81 and a 52 week high of $47.12.
FTI Consulting announced that its Board of Directors has initiated a stock repurchase plan on Friday, May 19th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the business services provider to repurchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
FTI Consulting Company Profile
FTI Consulting, Inc is a business advisory company. The Company operates through five segments: Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology and Strategic Communications. The Company provides advice and services, such as restructuring (including bankruptcy), capital formation and indebtedness, interim business management, performance improvements, forensic accounting and litigation matters, international arbitrations, mergers and acquisitions (M&A), antitrust and competition matters, securities litigation, electronic discovery (or e-discovery), management and retrieval of electronically stored information (ESI), reputation management and strategic communications.
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