FTI Consulting, Inc. (FCN) Rating Increased to Sell at BidaskClub
FTI Consulting, Inc. (NYSE:FCN) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Wednesday.
Several other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of FTI Consulting from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Deutsche Bank AG dropped their price target on shares of FTI Consulting from $47.00 to $38.00 and set a “hold” rating on the stock in a research note on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $43.00.
FTI Consulting (FCN) opened at 33.01 on Wednesday. The stock has a market cap of $1.31 billion, a P/E ratio of 36.12 and a beta of 0.28. The stock has a 50 day moving average price of $33.64 and a 200-day moving average price of $37.74. FTI Consulting has a 52 week low of $31.65 and a 52 week high of $47.12.
FTI Consulting (NYSE:FCN) last issued its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.13. The business had revenue of $447.70 million for the quarter, compared to analysts’ expectations 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 was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 EPS. On average, equities analysts anticipate that FTI Consulting will post $1.87 EPS for the current fiscal year.
FTI Consulting declared that its Board of Directors has authorized a stock 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 reacquire up to 7.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
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Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of FTI Consulting by 16,640.5% in the first quarter. BlackRock Inc. now owns 4,414,475 shares of the business services provider’s stock valued at $181,743,000 after buying an additional 4,388,105 shares in the last quarter. Black Creek Investment Management Inc. boosted its position in shares of FTI Consulting by 14.4% in the first quarter. Black Creek Investment Management Inc. now owns 3,773,215 shares of the business services provider’s stock valued at $155,343,000 after buying an additional 475,008 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of FTI Consulting by 538.3% in the first quarter. Parametric Portfolio Associates LLC now owns 514,577 shares of the business services provider’s stock valued at $21,185,000 after buying an additional 433,956 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new position in shares of FTI Consulting during the first quarter valued at $17,266,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of FTI Consulting during the first quarter valued at $17,266,000. Institutional investors and hedge funds own 96.09% of the company’s stock.
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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