FTI Consulting, Inc. (FCN) Expected to Post Quarterly Sales of $455.34 Million
Brokerages expect FTI Consulting, Inc. (NYSE:FCN) to report $455.34 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for FTI Consulting’s earnings, with estimates ranging from $453.40 million to $457.18 million. FTI Consulting posted sales of $460.15 million during the same quarter last year, which suggests a negative year-over-year growth rate of 1%. The firm is scheduled to announce 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 sales of $455.34 million for the current year, with estimates ranging from $1.80 billion to $1.83 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.85 billion per share, with estimates ranging from $1.83 billion to $1.89 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow 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 the consensus estimate of $0.60 by $0.26. FTI Consulting had a net margin of 3.88% and a return on equity of 6.06%. The firm had revenue of $446.30 million for the quarter, compared to analyst estimates of $461.08 million. During the same quarter last year, the business posted $0.83 earnings per share. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year.
Several research firms recently weighed in on FCN. Zacks Investment Research cut shares of FTI Consulting from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. BidaskClub upgraded shares of FTI Consulting from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Finally, Deutsche Bank AG dropped their price objective on shares of FTI Consulting from $47.00 to $38.00 and set a “hold” rating for the company in a research report on Friday, April 28th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $43.00.
FTI Consulting (NYSE FCN) opened at 33.41 on Wednesday. The stock’s 50 day moving average price is $34.17 and its 200 day moving average price is $38.28. The firm has a market capitalization of $1.35 billion, a PE ratio of 20.07 and a beta of 0.29. FTI Consulting has a 12 month low of $32.81 and a 12 month high of $47.12.
FTI Consulting announced that its Board of Directors has approved a stock repurchase plan on Friday, May 19th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the business services provider to reacquire up to 7.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
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In other FTI Consulting news, CEO Steven Henry Gunby bought 30,000 shares of the company’s stock in a transaction on Friday, April 28th. The stock was bought at an average price of $34.51 per share, for a total transaction of $1,035,300.00. Following the transaction, the chief executive officer now owns 166,043 shares of the company’s stock, valued at approximately $5,730,143.93. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.03% of the company’s stock.
Several hedge funds have recently modified their holdings of FCN. Meadow Creek Investment Management LLC boosted its stake in shares of FTI Consulting by 24.7% in the first quarter. Meadow Creek Investment Management LLC now owns 2,548 shares of the business services provider’s stock valued at $105,000 after buying an additional 504 shares during the last quarter. Acrospire Investment Management LLC raised its position in shares of FTI Consulting by 57.9% in the first quarter. Acrospire Investment Management LLC now owns 2,726 shares of the business services provider’s stock valued at $112,000 after buying an additional 1,000 shares during the period. TrimTabs Asset Management LLC purchased a new position in shares of FTI Consulting during the first quarter valued at about $121,000. Glen Harbor Capital Management LLC raised its position in shares of FTI Consulting by 24.7% in the first quarter. Glen Harbor Capital Management LLC now owns 3,094 shares of the business services provider’s stock valued at $128,000 after buying an additional 612 shares during the period. Finally, LS Investment Advisors LLC raised its position in shares of 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 valued at $116,000 after buying an additional 491 shares during the period. Institutional investors own 96.10% of the company’s stock.
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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