FTI Consulting, Inc. (NYSE:FCN) – Research analysts at SunTrust Banks lifted their Q3 2017 earnings per share estimates for FTI Consulting in a report issued on Thursday. SunTrust Banks analyst T. Sommer now expects that the business services provider will earn $0.60 per share for the quarter, up from their prior forecast of $0.57. SunTrust Banks also issued estimates for FTI Consulting’s Q4 2017 earnings at $0.58 EPS, FY2017 earnings at $1.92 EPS, Q2 2018 earnings at $0.54 EPS, Q3 2018 earnings at $0.46 EPS and FY2018 earnings at $2.03 EPS.
FTI Consulting (NYSE:FCN) last released its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.13. The business had revenue of $447.70 million during the quarter, compared to analysts’ expectations of $455.55 million. FTI Consulting had a return on equity of 6.06% and a net margin of 3.88%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS.
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FCN has been the subject of a number of other research reports. Zacks Investment Research lowered FTI Consulting from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Deutsche Bank AG reduced their price target on FTI Consulting from $47.00 to $38.00 and set a “hold” rating for the company in a research report on Friday, April 28th. Finally, BidaskClub lowered FTI Consulting from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $43.00.
FTI Consulting (NYSE:FCN) opened at 33.06 on Friday. The firm has a 50-day moving average price of $34.01 and a 200 day moving average price of $38.07. FTI Consulting has a 52-week low of $31.65 and a 52-week high of $47.12. The stock has a market cap of $1.34 billion, a PE ratio of 19.86 and a beta of 0.29.
FTI Consulting announced that its board has approved a share buyback program on Friday, May 19th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the business services provider to reacquire up to 7.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Comerica Bank raised its position in shares of FTI Consulting by 2.2% in the first quarter. Comerica Bank now owns 31,792 shares of the business services provider’s stock worth $1,130,000 after buying an additional 687 shares during the period. BlackRock Inc. raised its position in shares of FTI Consulting by 16,640.5% in the first quarter. BlackRock Inc. now owns 4,414,475 shares of the business services provider’s stock worth $181,743,000 after buying an additional 4,388,105 shares during the period. Airain ltd acquired a new position in shares of FTI Consulting during the first quarter worth about $898,000. Meadow Creek Investment Management LLC raised its position in shares of 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 worth $105,000 after buying an additional 504 shares during the period. Finally, Chicago Equity Partners LLC raised its position in shares of FTI Consulting by 129.6% in the first quarter. Chicago Equity Partners LLC now owns 64,595 shares of the business services provider’s stock worth $2,659,000 after buying an additional 36,460 shares during the period. Institutional investors own 96.10% 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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