FTI Consulting, Inc. (FCN) Given Average Rating of “Hold” by Brokerages
FTI Consulting, Inc. (NYSE:FCN) has been given a consensus recommendation of “Hold” by the six research firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $43.00.
A number of research analysts have commented on the company. BidaskClub upgraded FTI Consulting from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research cut FTI Consulting from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Deutsche Bank AG reduced their price objective on FTI Consulting from $47.00 to $38.00 and set a “hold” rating on the stock in a research note on Friday, April 28th.
Shares of FTI Consulting (NYSE FCN) traded down 0.03% during trading on Friday, hitting $32.98. The stock had a trading volume of 430,021 shares. The stock’s 50 day moving average is $33.48 and its 200-day moving average is $37.43. The company has a market cap of $1.30 billion, a PE ratio of 36.08 and a beta of 0.28. FTI Consulting has a 12-month low of $31.65 and a 12-month high of $47.12.
FTI Consulting (NYSE:FCN) last issued its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.13. The company had revenue of $447.70 million for the quarter, compared to analyst estimates of $455.55 million. FTI Consulting had a return on equity of 5.18% and a net margin of 2.13%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 EPS. Analysts forecast that FTI Consulting will post $1.87 earnings per share for the current year.
FTI Consulting announced that its Board of Directors has initiated a share buyback program on Friday, May 19th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the business services provider to purchase up to 7.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.
Hedge funds have recently made changes to their positions in the company. Meadow Creek Investment Management LLC raised 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 worth $105,000 after buying an additional 504 shares during the last quarter. Acrospire Investment Management LLC raised its stake 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 worth $112,000 after buying an additional 1,000 shares during the last quarter. Riverhead Capital Management LLC raised its stake in shares of FTI Consulting by 81.1% in the second quarter. Riverhead Capital Management LLC now owns 2,898 shares of the business services provider’s stock worth $101,000 after buying an additional 1,298 shares during the last quarter. TrimTabs Asset Management LLC acquired a new stake in shares of FTI Consulting during the first quarter worth about $121,000. Finally, Glen Harbor Capital Management LLC raised its stake 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 worth $128,000 after buying an additional 612 shares during the last quarter. 96.09% of the stock is currently owned by institutional investors and hedge funds.
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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