FTI Consulting, Inc. (FCN) Lowered to “Sell” at Zacks Investment Research
FTI Consulting, Inc. (NYSE:FCN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
According to Zacks, “FTI Consulting has underperformed the Zacks categorized Consulting Services industry in the last three months. Quarterly earnings estimates have also decreased during this period. The company is highly exposed to foreign exchange rate risks and pricing pressure due to the Brexit referendum, which undermine its growth prospects to some extent. The company is likely to be stifled by the higher tariff and non-tariff barriers to trade between the U.K. and the European Union, lowering its productivity. Clients’ spending patterns also remain cautious, given the concerns over the current market environment, volatile financial markets and a lack of visibility regarding the impact of future tax and regulatory policies. However, the company has planned significant investments to expand its Technology business, which are likely to boost its earnings going forward. Acquisitions in high-growth segments and strategic hires could also turn its fortunes.”
A number of other analysts have also recently commented on FCN. SunTrust Banks, Inc. cut FTI Consulting from a “buy” rating to a “hold” rating and lowered their price target for the stock from $50.00 to $46.00 in a research report on Friday, January 6th. TheStreet cut FTI Consulting from a “b” rating to a “c+” rating in a research report on Monday, January 9th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $45.50.
FTI Consulting (NYSE:FCN) traded down 0.05% during mid-day trading on Tuesday, hitting $41.24. The company had a trading volume of 32,484 shares. The company has a 50-day moving average price of $40.66 and a 200 day moving average price of $42.42. FTI Consulting has a 12 month low of $34.20 and a 12 month high of $47.12. The firm has a market capitalization of $1.69 billion, a P/E ratio of 20.12 and a beta of 0.36.
FTI Consulting (NYSE:FCN) last issued its quarterly earnings results on Tuesday, February 28th. The business services provider reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.05. FTI Consulting had a return on equity of 7.86% and a net margin of 4.90%. The firm had revenue of $441.92 million for the quarter, compared to analyst estimates of $431.60 million. During the same period in the prior year, the firm posted $0.24 EPS. The business’s revenue was down .1% compared to the same quarter last year. Equities analysts forecast that FTI Consulting will post $2.28 EPS for the current fiscal year.
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Institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in shares of FTI Consulting during the fourth quarter valued at about $41,444,000. BlackRock Fund Advisors boosted its position in FTI Consulting by 7.2% in the third quarter. BlackRock Fund Advisors now owns 2,186,032 shares of the business services provider’s stock worth $97,410,000 after buying an additional 146,362 shares during the last quarter. Marshall Wace LLP boosted its position in FTI Consulting by 78.0% in the fourth quarter. Marshall Wace LLP now owns 298,526 shares of the business services provider’s stock worth $13,458,000 after buying an additional 130,799 shares during the last quarter. Panagora Asset Management Inc. boosted its position in FTI Consulting by 147.8% in the third quarter. Panagora Asset Management Inc. now owns 177,681 shares of the business services provider’s stock worth $7,917,000 after buying an additional 105,991 shares during the last quarter. Finally, Gotham Asset Management LLC boosted its position in FTI Consulting by 67.5% in the third quarter. Gotham Asset Management LLC now owns 105,863 shares of the business services provider’s stock worth $4,717,000 after buying an additional 42,668 shares during the last quarter. 92.58% of the stock is owned by institutional investors and hedge funds.
About FTI Consulting
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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