FTI Consulting (NYSE:FCN) Issues Earnings Results, Misses Expectations By $0.21 EPS

FTI Consulting (NYSE:FCN) issued its quarterly earnings results on Thursday. The business services provider reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.21), Briefing.com reports. FTI Consulting had a net margin of 8.90% and a return on equity of 16.34%. The firm had revenue of $926.00 million for the quarter, compared to the consensus estimate of $946.16 million. During the same quarter in the prior year, the firm earned $2.34 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. FTI Consulting updated its FY 2024 guidance to 7.900-8.350 EPS and its FY24 guidance to $7.90-$8.35 EPS.

FTI Consulting Stock Down 1.1 %

Shares of FCN opened at $199.09 on Friday. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $223.66 and a two-hundred day moving average price of $219.31. The stock has a market cap of $7.15 billion, a price-to-earnings ratio of 21.66 and a beta of 0.10. FTI Consulting has a 12 month low of $185.93 and a 12 month high of $243.60.

Institutional Investors Weigh In On FTI Consulting

Several large investors have recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. boosted its stake in FTI Consulting by 4.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 1,119 shares of the business services provider’s stock valued at $241,000 after buying an additional 52 shares in the last quarter. Allegheny Financial Group LTD lifted its holdings in shares of FTI Consulting by 6.5% during the second quarter. Allegheny Financial Group LTD now owns 1,182 shares of the business services provider’s stock valued at $255,000 after acquiring an additional 72 shares during the period. UMB Bank n.a. boosted its stake in shares of FTI Consulting by 76.6% in the 3rd quarter. UMB Bank n.a. now owns 166 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 72 shares in the last quarter. Truist Financial Corp grew its holdings in shares of FTI Consulting by 2.1% in the 2nd quarter. Truist Financial Corp now owns 3,757 shares of the business services provider’s stock worth $810,000 after purchasing an additional 76 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of FTI Consulting by 65.9% in the 2nd quarter. Signaturefd LLC now owns 204 shares of the business services provider’s stock worth $44,000 after purchasing an additional 81 shares during the last quarter. 99.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. StockNews.com cut FTI Consulting from a “buy” rating to a “hold” rating in a research report on Friday. Truist Financial lifted their price target on shares of FTI Consulting from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th.

About FTI Consulting

FTI Consulting, Inc provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company operates through Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications segments. The Corporate Finance & Restructuring segment provides business transformation and strategy, transactions, and turnaround and restructuring services.