LS Investment Advisors LLC increased its position in FTI Consulting, Inc. (NYSE:FCN) by 17.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,307 shares of the business services provider’s stock after buying an additional 491 shares during the period. LS Investment Advisors LLC’s holdings in FTI Consulting were worth $116,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of FCN. Oregon Public Employees Retirement Fund boosted its position in shares of FTI Consulting by 4.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 15,364 shares of the business services provider’s stock worth $537,000 after buying an additional 593 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of FTI Consulting by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 17,087 shares of the business services provider’s stock worth $598,000 after buying an additional 98 shares in the last quarter. Bank of Montreal Can boosted its position in shares of FTI Consulting by 397.7% in the second quarter. Bank of Montreal Can now owns 12,920 shares of the business services provider’s stock worth $452,000 after buying an additional 10,324 shares in the last quarter. Capstone Asset Management Co. boosted its position in shares of FTI Consulting by 4.9% in the second quarter. Capstone Asset Management Co. now owns 5,956 shares of the business services provider’s stock worth $208,000 after buying an additional 280 shares in the last quarter. Finally, Credit Suisse AG boosted its position in shares of FTI Consulting by 1.9% in the first quarter. Credit Suisse AG now owns 65,012 shares of the business services provider’s stock worth $2,676,000 after buying an additional 1,225 shares in the last quarter. 96.09% of the stock is currently owned by hedge funds and other institutional investors.
FTI Consulting, Inc. (FCN) traded down 0.03% during trading on Friday, reaching $32.98. The company’s stock had a trading volume of 430,021 shares. The firm has a market cap of $1.30 billion, a P/E ratio of 36.08 and a beta of 0.28. The stock’s 50 day moving average is $33.48 and its 200-day moving average is $37.43. FTI Consulting, Inc. has a 52 week low of $31.65 and a 52 week high of $47.12.
FTI Consulting (NYSE:FCN) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.13. The business had revenue of $447.70 million for the quarter, compared to analyst estimates of $455.55 million. FTI Consulting had a return on equity of 5.18% and a net margin of 2.13%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 EPS. On average, equities research analysts forecast that FTI Consulting, Inc. will post $1.87 earnings per share for the current fiscal year.
FTI Consulting announced that its board has approved a share buyback 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 reacquire up to 7.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
A number of equities analysts recently weighed in on the company. BidaskClub raised FTI Consulting from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research cut FTI Consulting from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Deutsche Bank AG dropped their price target on FTI Consulting from $47.00 to $38.00 and set a “hold” rating on the stock in a research note on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $43.00.
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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