FTI Consulting (NYSE:FCN) to Buyback $400.00 million in Outstanding Shares

FTI Consulting (NYSE:FCN) announced that its Board of Directors has authorized a share buyback plan on Thursday, April 24th, RTT News reports. The company plans to repurchase $400.00 million in shares. This repurchase authorization permits the business services provider to buy up to 6.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

FCN has been the topic of a number of recent analyst reports. The Goldman Sachs Group dropped their price target on shares of FTI Consulting from $194.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. William Blair reiterated an “outperform” rating on shares of FTI Consulting in a research report on Friday. Truist Financial downgraded FTI Consulting from a “buy” rating to a “hold” rating and dropped their price target for the stock from $225.00 to $178.00 in a research report on Wednesday, April 2nd. Finally, StockNews.com downgraded shares of FTI Consulting from a “buy” rating to a “hold” rating in a report on Thursday, April 3rd.

FTI Consulting Trading Up 0.5 %

FTI Consulting stock opened at $162.75 on Friday. FTI Consulting has a 52 week low of $151.75 and a 52 week high of $243.60. The stock has a market cap of $5.76 billion, a P/E ratio of 20.87 and a beta of 0.21. The stock has a 50 day moving average of $163.96 and a 200-day moving average of $187.28.

FTI Consulting (NYSE:FCN) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.50. The firm had revenue of $898.28 million for the quarter, compared to the consensus estimate of $906.93 million. FTI Consulting had a net margin of 7.57% and a return on equity of 13.15%. As a group, equities analysts predict that FTI Consulting will post 8.55 earnings per share for the current fiscal year.

FTI Consulting Company Profile

FTI Consulting, Inc provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company operates through Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications segments. The Corporate Finance & Restructuring segment provides business transformation and strategy, transactions, and turnaround and restructuring services.