Franklin Resources Inc. grew its stake in shares of FTI Consulting, Inc. (NYSE:FCN) by 121.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 170,400 shares of the business services provider’s stock after acquiring an additional 93,300 shares during the quarter. Franklin Resources Inc. owned about 0.45% of FTI Consulting worth $8,249,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in FCN. Schwab Charles Investment Management Inc. lifted its position in shares of FTI Consulting by 4.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 343,112 shares of the business services provider’s stock valued at $14,741,000 after acquiring an additional 13,999 shares during the period. Aperio Group LLC bought a new stake in shares of FTI Consulting during the 4th quarter worth $266,000. CIBC Asset Management Inc bought a new stake in shares of FTI Consulting during the 4th quarter worth $217,000. Teacher Retirement System of Texas bought a new stake in shares of FTI Consulting during the 4th quarter worth $582,000. Finally, California Public Employees Retirement System lifted its position in shares of FTI Consulting by 5.1% during the 4th quarter. California Public Employees Retirement System now owns 128,768 shares of the business services provider’s stock worth $5,532,000 after buying an additional 6,233 shares during the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.
Shares of FCN stock opened at $63.43 on Tuesday. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.36. FTI Consulting, Inc. has a twelve month low of $31.65 and a twelve month high of $65.14. The firm has a market cap of $2.41 billion, a P/E ratio of 27.34 and a beta of 0.17.
FTI Consulting (NYSE:FCN) last announced its quarterly earnings data on Thursday, April 26th. The business services provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.42. FTI Consulting had a return on equity of 9.85% and a net margin of 7.15%. The business had revenue of $497.77 million during the quarter, compared to the consensus estimate of $456.68 million. During the same period in the prior year, the company earned $0.34 EPS. FTI Consulting’s revenue for the quarter was up 11.5% on a year-over-year basis. research analysts expect that FTI Consulting, Inc. will post 2.65 earnings per share for the current fiscal year.
In related news, Director Brenda J. Bacon sold 15,966 shares of the company’s stock in a transaction on Monday, June 4th. The stock was sold at an average price of $62.94, for a total transaction of $1,004,900.04. Following the completion of the sale, the director now directly owns 38,189 shares in the company, valued at approximately $2,403,615.66. The sale was disclosed in a filing with the SEC, which is available through this link. 2.19% of the stock is owned by corporate insiders.
Several brokerages recently weighed in on FCN. ValuEngine downgraded FTI Consulting from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 2nd. Zacks Investment Research downgraded FTI Consulting from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 25th.
About FTI Consulting
FTI Consulting, Inc provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company's Corporate Finance & Restructuring segment provides turnaround and restructuring, business transformation, interim management, valuation and financial advisory, transaction, dispute advisory, and tax services, as well as mergers and acquisitions (M&A), and M&A integration services.
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