FTI Consulting, Inc. (FCN) Receives $43.00 Consensus Price Target from Brokerages
Shares of FTI Consulting, Inc. (NYSE:FCN) have been assigned a consensus recommendation of “Hold” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $43.00.
FCN has been the subject of a number of analyst reports. Deutsche Bank AG reduced 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 note on Friday, April 28th. BidaskClub upgraded shares of FTI Consulting from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Finally, Zacks Investment Research lowered shares of FTI Consulting from a “hold” rating to a “sell” rating in a research note on Friday, July 28th.
FTI Consulting (FCN) traded down 0.97% on Friday, reaching $32.79. 227,144 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $33.46 and its 200 day moving average price is $37.29. FTI Consulting has a 52-week low of $31.65 and a 52-week high of $47.12. The company has a market cap of $1.30 billion, a PE ratio of 35.88 and a beta of 0.28.
FTI Consulting (NYSE:FCN) last released its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by $0.13. The firm had revenue of $447.70 million for the quarter, compared to the consensus estimate of $455.55 million. FTI Consulting had a net margin of 2.13% and a return on equity of 5.18%. The firm’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 business posted $0.66 earnings per share. On average, analysts expect that FTI Consulting will post $1.87 earnings per share for the current year.
FTI Consulting announced that its Board of Directors has approved a share repurchase program 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 programs are usually a sign that the company’s leadership believes its stock is undervalued.
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Several hedge funds have recently made changes to their positions in FCN. 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 in the last quarter. 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 in 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 in the last quarter. LS Investment Advisors LLC raised its stake 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 worth $116,000 after buying an additional 491 shares in the last quarter. Finally, TrimTabs Asset Management LLC bought a new stake in shares of FTI Consulting during the first quarter worth approximately $121,000. Hedge funds and other institutional investors own 97.45% 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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