FTI Consulting (FCN) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of FTI Consulting (NYSE:FCN) from a hold rating to a buy rating in a research note issued to investors on Tuesday. Zacks Investment Research currently has $48.00 price target on the business services provider’s stock.
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 damage assessment, accounting, economics, statistics, finance and industry under a single umbrella make it an excellent partner for global clients dealing with international arbitration issues. FTI Consulting’s international expansion remains strong and will likely continue in the future as well. FTI Consulting has also outperformed the industry in the last three months. However, clients’ spending patterns have remained cautious, given the concerns over the current environment, volatile financial markets and a lack of visibility regarding the impact of future tax and regulatory policies.”
Separately, TheStreet upgraded FTI Consulting from a c rating to a b rating in a research note on Thursday, October 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $44.00.
Shares of FTI Consulting (NYSE:FCN) traded up $1.43 during trading hours on Tuesday, reaching $44.38. The company’s stock had a trading volume of 251,100 shares, compared to its average volume of 236,667. The stock has a market capitalization of $1,630.24, a PE ratio of 36.08 and a beta of 0.34. FTI Consulting has a 1-year low of $31.65 and a 1-year high of $45.47. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.41.
FTI Consulting (NYSE:FCN) last announced its quarterly earnings data on Thursday, October 26th. The business services provider reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.24. FTI Consulting had a return on equity of 6.12% and a net margin of 2.70%. The business had revenue of $448.96 million during the quarter, compared to analysts’ expectations of $446.63 million. During the same quarter in the previous year, the business earned $0.52 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. sell-side analysts predict that FTI Consulting will post 2.06 EPS for the current fiscal year.
FTI Consulting announced that its Board of Directors has approved a stock buyback program on Monday, December 4th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Several institutional investors and hedge funds have recently modified their holdings of FCN. Riverhead Capital Management LLC grew its holdings 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 acquiring an additional 1,298 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of FTI Consulting by 12.8% in the second quarter. Public Employees Retirement System of Ohio now owns 4,698 shares of the business services provider’s stock worth $164,000 after acquiring an additional 533 shares during the period. Pinebridge Investments L.P. bought a new stake in shares of FTI Consulting in the third quarter worth $174,000. Magnetar Financial LLC bought a new stake in shares of FTI Consulting in the third quarter worth $201,000. Finally, Amalgamated Bank grew its holdings in shares of FTI Consulting by 0.6% in the second quarter. Amalgamated Bank now owns 5,870 shares of the business services provider’s stock worth $205,000 after acquiring an additional 37 shares during the period. 97.19% of the stock is owned by 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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