Wall Street analysts forecast that FTI Consulting, Inc. (NYSE:FCN) will report sales of $456.01 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for FTI Consulting’s earnings, with estimates ranging from $451.76 million to $463.00 million. FTI Consulting reported sales of $446.34 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.2%. The company is expected to issue its next earnings results on Thursday, April 26th.
According to Zacks, analysts expect that FTI Consulting will report full year sales of $456.01 million for the current fiscal year, with estimates ranging from $1.85 billion to $1.86 billion. For the next year, analysts expect that the business will report sales of $1.92 billion per share, with estimates ranging from $1.92 billion to $1.94 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow FTI Consulting.
FTI Consulting (NYSE:FCN) last released its earnings results on Thursday, February 22nd. The business services provider reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.28. The company had revenue of $467.71 million during the quarter, compared to analysts’ expectations of $450.52 million. FTI Consulting had a return on equity of 7.80% and a net margin of 5.97%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.24 EPS.
Several equities research analysts have recently commented on the company. Zacks Investment Research raised FTI Consulting from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Friday, February 23rd. ValuEngine raised FTI Consulting from a “hold” rating to a “buy” rating in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. FTI Consulting has an average rating of “Hold” and a consensus target price of $45.50.
FTI Consulting (NYSE:FCN) remained flat at $$48.28 during midday trading on Friday. 128,695 shares of the company’s stock traded hands, compared to its average volume of 277,710. The company has a market capitalization of $1,806.36, a price-to-earnings ratio of 17.00 and a beta of 0.25. FTI Consulting has a 52-week low of $31.65 and a 52-week high of $50.81. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.33.
FTI Consulting announced that its Board of Directors has approved a share repurchase program on Monday, December 4th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, CAO Catherine M. Freeman sold 6,088 shares of FTI Consulting stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $48.44, for a total transaction of $294,902.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.33% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in FCN. Public Employees Retirement System of Ohio lifted its holdings in FTI Consulting by 12.8% during 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 in the last quarter. Pinebridge Investments L.P. bought a new position in FTI Consulting during the third quarter worth about $174,000. Magnetar Financial LLC bought a new position in FTI Consulting during the third quarter worth about $201,000. Jane Street Group LLC bought a new position in FTI Consulting during the fourth quarter worth about $204,000. Finally, Verition Fund Management LLC bought a new position in FTI Consulting during the fourth quarter worth about $209,000. 98.71% of the stock is owned by institutional investors and hedge funds.
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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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