FTI Consulting (NYSE:FCN) Issues Earnings Results, Beats Expectations By $0.32 EPS

FTI Consulting (NYSE:FCN) issued its quarterly earnings data on Thursday. The business services provider reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.32, Briefing.com reports. The business had revenue of $949.16 million for the quarter, compared to analysts’ expectations of $938.67 million. FTI Consulting had a return on equity of 16.34% and a net margin of 8.90%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.75 EPS. FTI Consulting updated its FY24 guidance to $8.10-8.60 EPS and its FY 2024 guidance to 8.100-8.600 EPS.

FTI Consulting Stock Performance

NYSE:FCN opened at $225.40 on Friday. The business’s 50-day moving average price is $217.49 and its two-hundred day moving average price is $209.85. FTI Consulting has a twelve month low of $171.81 and a twelve month high of $243.60. The stock has a market cap of $8.05 billion, a P/E ratio of 26.21 and a beta of 0.09. The company has a quick ratio of 2.46, a current ratio of 2.20 and a debt-to-equity ratio of 0.03.

Insider Buying and Selling at FTI Consulting

In other FTI Consulting news, CEO Steven Henry Gunby sold 28,440 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $218.61, for a total value of $6,217,268.40. Following the sale, the chief executive officer now owns 287,184 shares of the company’s stock, valued at approximately $62,781,294.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Steven Henry Gunby sold 28,440 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $218.61, for a total transaction of $6,217,268.40. Following the transaction, the chief executive officer now directly owns 287,184 shares in the company, valued at approximately $62,781,294.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ajay Sabherwal sold 596 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $226.13, for a total value of $134,773.48. Following the transaction, the chief financial officer now owns 13,455 shares in the company, valued at $3,042,579.15. The disclosure for this sale can be found here. Insiders have sold a total of 51,088 shares of company stock valued at $11,163,977 in the last 90 days. Corporate insiders own 2.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. StockNews.com raised FTI Consulting from a “hold” rating to a “buy” rating in a report on Thursday. William Blair reaffirmed an “outperform” rating on shares of FTI Consulting in a report on Tuesday, June 25th.

About FTI Consulting

FTI Consulting, Inc provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company operates through Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications segments. The Corporate Finance & Restructuring segment provides business transformation and strategy, transactions, and turnaround and restructuring services.