FTI Consulting (FCN) Downgraded to “Hold” at Zacks Investment Research

FTI Consulting (NYSE:FCN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “FTI Consulting has elected few highly qualified executive officers for improving its operational performance in the long term. Acquisitions on a global basis in high-growth segments and significant investments in technology are likely to fuel growth. FTI Consulting’s unique capabilities of bringing together diverse fields under a single umbrella make it an excellent partner for global clients dealing with international arbitration issues. FTI Consulting has also outperformed the industry in the last three months. However, clients’ spending patterns have remained cautious, given the lack of visibility regarding the impact of future tax and regulatory policies. The company is likely to be stifled by the renegotiated deals and restrictions imposed on trade with other European Union members. Brexit could further result in higher tariff and non-tariff barriers to trade between the U.K. and the European Union, lowering its productivity.”

Separately, TheStreet raised FTI Consulting from a “c” rating to a “b” rating in a research note on Thursday, October 26th.

Shares of FTI Consulting (FCN) traded down $0.21 during trading on Tuesday, reaching $43.65. The company had a trading volume of 178,500 shares, compared to its average volume of 267,689. The firm has a market cap of $1,660.00, a P/E ratio of 35.49 and a beta of 0.34. FTI Consulting has a twelve month low of $31.65 and a twelve month high of $45.27. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.15 and a quick ratio of 2.15.

FTI Consulting (NYSE:FCN) last issued its quarterly earnings data on Thursday, October 26th. The business services provider reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.24. The business had revenue of $448.96 million for the quarter, compared to the consensus estimate of $446.63 million. FTI Consulting had a return on equity of 6.12% and a net margin of 2.70%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 EPS. equities research analysts predict that FTI Consulting will post 2.06 EPS for the current fiscal year.

FTI Consulting announced that its board has initiated a stock buyback plan on Monday, December 4th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its holdings in shares of FTI Consulting by 176.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,456 shares of the business services provider’s stock valued at $101,000 after acquiring an additional 1,567 shares in the last quarter. Riverhead Capital Management LLC grew its holdings in shares of FTI Consulting by 81.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,898 shares of the business services provider’s stock valued at $101,000 after acquiring an additional 1,298 shares in the last quarter. LS Investment Advisors LLC grew its holdings in shares of FTI Consulting by 72.2% in the 2nd quarter. LS Investment Advisors LLC now owns 2,524 shares of the business services provider’s stock valued at $103,000 after acquiring an additional 1,058 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of FTI Consulting in the 2nd quarter valued at about $105,000. Finally, Meadow Creek Investment Management LLC grew its holdings in shares of FTI Consulting by 24.7% in the 1st quarter. Meadow Creek Investment Management LLC now owns 2,548 shares of the business services provider’s stock valued at $105,000 after acquiring an additional 504 shares in the last quarter. 97.19% of the stock is currently owned by hedge funds and other institutional investors.

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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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