Zacks Investment Research Downgrades FTI Consulting, Inc. (NYSE:FCN) to Sell

Zacks Investment Research lowered shares of FTI Consulting, Inc. (NYSE:FCN) from a hold rating to a sell rating in a report released on Friday, July 28th.

According to Zacks, “FTI Consulting reported dismal second-quarter 2017 results, missing the Zacks Consensus Estimate by $0.13. It has also underperformed the industry with a negative average return of 8.2% as against a positive 5.4% for the latter, over the last 90 days. 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. The company is likely to be stifled by the higher tariff and non-tariff barriers to trade between the U.K. and the European Union, lowering its productivity. Clients’ spending patterns also remain cautious, given the concerns over the current market environment, volatile financial markets and a lack of visibility regarding the impact of future tax and regulatory policies. However, acquisitions in high-growth segments and strategic hires could turn the company’s fortunes in the future.”

A number of other research firms have also recently weighed in on FCN. BidaskClub cut FTI Consulting from a hold rating to a sell rating in a report on Friday, June 23rd. Deutsche Bank AG lowered their price target on FTI Consulting from $47.00 to $38.00 and set a hold rating on the stock in a report on Friday, April 28th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $43.00.

FTI Consulting (FCN) opened at 32.75 on Friday. The company’s 50-day moving average price is $33.36 and its 200 day moving average price is $37.19. FTI Consulting has a 12 month low of $31.65 and a 12 month high of $47.12. The stock has a market capitalization of $1.30 billion, a PE ratio of 35.83 and a beta of 0.28.

FTI Consulting (NYSE:FCN) last issued its earnings results on Thursday, July 27th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by $0.13. The business had revenue of $447.70 million for the quarter, compared to analysts’ expectations of $455.55 million. FTI Consulting had a return on equity of 5.18% and a net margin of 2.13%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the company posted $0.66 earnings per share. On average, analysts forecast that FTI Consulting will post $1.87 earnings per share for the current fiscal year.

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FTI Consulting announced that its board has initiated a stock repurchase program on Friday, May 19th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the business services provider to buy up to 7.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Several large investors have recently bought and sold shares of the company. Meadow Creek Investment Management LLC boosted its stake in FTI Consulting by 24.7% in the first quarter. Meadow Creek Investment Management LLC now owns 2,548 shares of the business services provider’s stock valued at $105,000 after buying an additional 504 shares during the period. Acrospire Investment Management LLC boosted its stake in FTI Consulting by 57.9% in the first quarter. Acrospire Investment Management LLC now owns 2,726 shares of the business services provider’s stock valued at $112,000 after buying an additional 1,000 shares during the period. Riverhead Capital Management LLC boosted its stake in 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 valued at $101,000 after buying an additional 1,298 shares during the period. TrimTabs Asset Management LLC acquired a new stake in FTI Consulting during the first quarter valued at about $121,000. Finally, Glen Harbor Capital Management LLC boosted its stake in FTI Consulting by 24.7% in the first quarter. Glen Harbor Capital Management LLC now owns 3,094 shares of the business services provider’s stock valued at $128,000 after buying an additional 612 shares during the period. Institutional investors and hedge funds own 97.45% 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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