Zacks Investment Research lowered shares of FTI Consulting (NYSE:FCN) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.
According to Zacks, “FTI Consulting has elected few highly qualified executive officers for improving its operational performance in the long term. Acquisitions on a global basis in high-growth segments and significant investments in technology are likely to fuel growth. FTI Consulting’s unique capabilities of bringing together diverse fields under a single umbrella make it an excellent partner for global clients dealing with international arbitration issues. FTI Consulting has also outperformed the industry in the last three months. However, clients’ spending patterns have remained cautious, given the lack of visibility regarding the impact of future tax and regulatory policies. The company is likely to be stifled by the renegotiated deals and restrictions imposed on trade with other European Union members. Brexit could further result in higher tariff and non-tariff barriers to trade between the U.K. and the European Union, lowering its productivity.”
Separately, TheStreet upgraded FTI Consulting from a c rating to a b rating in a research note on Thursday, October 26th.
FTI Consulting (NYSE:FCN) last posted its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.24. The company had revenue of $448.96 million for the quarter, compared to the consensus estimate of $446.63 million. FTI Consulting had a return on equity of 6.12% and a net margin of 2.70%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.52 EPS. research analysts forecast that FTI Consulting will post 2.06 earnings per share for the current year.
FTI Consulting announced that its board has authorized a stock repurchase program on Monday, December 4th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
Several institutional investors have recently bought and sold shares of FCN. Schwab Charles Investment Management Inc. grew its stake in shares of FTI Consulting by 4.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 309,445 shares of the business services provider’s stock worth $10,819,000 after buying an additional 13,352 shares during the last quarter. Legal & General Group Plc grew its stake in shares of FTI Consulting by 11.7% in the 2nd quarter. Legal & General Group Plc now owns 60,299 shares of the business services provider’s stock worth $2,106,000 after buying an additional 6,331 shares during the last quarter. Comerica Bank grew its stake in shares of FTI Consulting by 0.8% in the 2nd quarter. Comerica Bank now owns 32,062 shares of the business services provider’s stock worth $1,061,000 after buying an additional 270 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of FTI Consulting by 70.3% in the 2nd quarter. Prudential Financial Inc. now owns 70,897 shares of the business services provider’s stock worth $2,479,000 after buying an additional 29,270 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of FTI Consulting by 3.6% in the 2nd quarter. Principal Financial Group Inc. now owns 176,382 shares of the business services provider’s stock worth $6,166,000 after buying an additional 6,186 shares during the last quarter. Institutional investors own 97.19% of the company’s stock.
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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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