FTI Consulting (NYSE:FCN) announced its quarterly earnings results on Thursday. The business services provider reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.28, Bloomberg Earnings reports. The company had revenue of $467.71 million during the quarter, compared to analyst estimates of $450.52 million. FTI Consulting had a return on equity of 6.12% and a net margin of 2.70%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 earnings per share. FTI Consulting updated its FY18 guidance to $2.35-2.65 EPS.
FTI Consulting (NYSE FCN) traded up $2.05 during mid-day trading on Friday, hitting $49.04. The stock had a trading volume of 219,563 shares, compared to its average volume of 253,619. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.41. FTI Consulting has a fifty-two week low of $31.65 and a fifty-two week high of $49.41. The firm has a market capitalization of $1,780.00, a price-to-earnings ratio of 29.60 and a beta of 0.36.
Several hedge funds have recently bought and sold shares of the company. Xact Kapitalforvaltning AB acquired a new stake in shares of FTI Consulting in the fourth quarter valued at about $220,000. Segall Bryant & Hamill LLC grew its stake in shares of FTI Consulting by 8.0% in the fourth quarter. Segall Bryant & Hamill LLC now owns 285,829 shares of the business services provider’s stock valued at $12,279,000 after buying an additional 21,245 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of FTI Consulting in the fourth quarter valued at about $724,000. Gotham Asset Management LLC acquired a new stake in shares of FTI Consulting in the fourth quarter valued at about $1,617,000. Finally, Jane Street Group LLC acquired a new stake in shares of FTI Consulting in the fourth quarter valued at about $204,000. Institutional investors and hedge funds own 93.45% of the company’s stock.
FCN has been the subject of several research analyst reports. TheStreet upgraded FTI Consulting from a “c” rating to a “b” rating in a research note on Thursday, October 26th. Zacks Investment Research upgraded FTI Consulting from a “hold” rating to a “strong-buy” rating and set a $49.00 price target for the company in a research note on Monday, October 30th.
FTI Consulting announced that its board has initiated a share repurchase plan on Monday, December 4th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
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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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