FTI Consulting (NYSE:FCN) Shares Gap Up Following Better-Than-Expected Earnings

Shares of FTI Consulting, Inc. (NYSE:FCN) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $158.59, but opened at $170.57. FTI Consulting shares last traded at $170.1430, with a volume of 50,996 shares traded.

The business services provider reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.74 by $1.10. FTI Consulting had a return on equity of 15.91% and a net margin of 6.44%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the business earned $2.60 EPS. FTI Consulting’s revenue was up 5.9% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

FCN has been the topic of several recent analyst reports. Weiss Ratings upgraded FTI Consulting from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Truist Financial lowered their price target on FTI Consulting from $180.00 to $158.00 and set a “hold” rating on the stock in a report on Friday, October 23rd. Two investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, FTI Consulting currently has a consensus rating of “Hold” and a consensus target price of $163.50.

Institutional Trading of FTI Consulting

Institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC purchased a new position in shares of FTI Consulting in the 2nd quarter worth approximately $37,000. Rockefeller Capital Management L.P. grew its position in FTI Consulting by 405.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 263 shares of the business services provider’s stock valued at $45,000 after buying an additional 211 shares during the period. Bessemer Group Inc. increased its position in shares of FTI Consulting by 41.6% in the first quarter. Bessemer Group Inc. now owns 361 shares of the business services provider’s stock valued at $64,000 after buying an additional 106 shares in the last quarter. Steph & Co. increased its stake in shares of FTI Consulting by 113.1% during the third quarter. Steph & Co. now owns 1,010 shares of the business services provider’s stock worth $136,000 after purchasing an additional 536 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in FTI Consulting during the 1st quarter worth approximately $218,000. Hedge funds and other institutional investors own 99.36% of the company’s stock.

FTI Consulting Stock Performance

The firm has a 50-day moving average price of $146.04 and a two-hundred day moving average price of $159.88. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.76. The firm has a market cap of $4.72 billion, a PE ratio of 20.66 and a beta of -0.06.

About FTI Consulting

FTI Consulting, Inc is a global business advisory firm that helps organizations address complex financial, legal, operational and reputational challenges. The company provides independent expertise to corporations, law firms, financial institutions, government agencies and other organizations involved in major disputes, transactions, investigations, restructurings and regulatory matters.

FTI Consulting operates through several practice areas, including Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology and Strategic Communications.