Zacks Investment Research upgraded shares of FTI Consulting, Inc. (NYSE:FCN) from a hold rating to a strong-buy rating in a report released on Monday, October 30th. The brokerage currently has $49.00 price objective on the business services provider’s stock.
According to Zacks, “FTI Consulting reported healthy third-quarter 2017 results with earnings comfortably beating the Zacks Consensus Estimate. The company has elected few highly qualified executive officers for improving its operational performance in the long term. These drivers are expected to enhance the economic performance of the segments and are likely to reap benefits for the company in 2017. 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, thereby generating continued revenue growth from the existing international operations. However, the company is highly exposed to foreign exchange rate risks and pricing pressure due to the Brexit referendum, undermining its growth prospects to some extent. FTI Consulting underperformed the industry year to date.”
Several other research firms also recently commented on FCN. TheStreet raised shares of FTI Consulting from a c rating to a b rating in a report on Thursday, October 26th. BidaskClub cut shares of FTI Consulting from a hold rating to a sell rating in a report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a strong buy rating to the company’s stock. FTI Consulting currently has a consensus rating of Hold and a consensus price target of $44.33.
FTI Consulting (NYSE:FCN) traded down $1.02 during trading on Monday, reaching $41.18. 552,200 shares of the company were exchanged, compared to its average volume of 352,938. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.15 and a quick ratio of 2.15. FTI Consulting has a 12 month low of $31.65 and a 12 month high of $47.12. The stock has a market cap of $1,601.77, a price-to-earnings ratio of 23.32 and a beta of 0.31.
FTI Consulting (NYSE:FCN) last issued its quarterly earnings data on Thursday, October 26th. The business services provider reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.24. The company had revenue of $448.96 million for the quarter, compared to analyst estimates of $446.63 million. FTI Consulting had a net margin of 2.70% and a return on equity of 6.12%. FTI Consulting’s revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company posted $0.52 earnings per share. equities analysts predict that FTI Consulting will post 2.06 EPS for the current year.
A number of large investors have recently bought and sold shares of the business. California Public Employees Retirement System lifted its holdings in shares of FTI Consulting by 2.1% in the 2nd quarter. California Public Employees Retirement System now owns 111,892 shares of the business services provider’s stock worth $3,912,000 after acquiring an additional 2,300 shares during the last quarter. BlackRock Inc. increased its stake in FTI Consulting by 16,640.5% during the 1st quarter. BlackRock Inc. now owns 4,414,475 shares of the business services provider’s stock worth $181,743,000 after buying an additional 4,388,105 shares during the period. BNP Paribas Arbitrage SA increased its stake in FTI Consulting by 140.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 22,235 shares of the business services provider’s stock worth $777,000 after buying an additional 12,983 shares during the period. Thompson Siegel & Walmsley LLC increased its stake in FTI Consulting by 75.6% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 535,634 shares of the business services provider’s stock worth $18,726,000 after buying an additional 230,549 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in FTI Consulting by 13.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 218,270 shares of the business services provider’s stock worth $7,630,000 after buying an additional 26,107 shares during the period. Institutional investors own 95.65% 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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