Zacks Investment Research cut shares of FTI Consulting (NYSE:FCN) from a buy rating to a hold rating in a research note published on Tuesday.
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 raised shares of FTI Consulting from a c rating to a b rating in a research note on Thursday, October 26th.
FTI Consulting (NYSE:FCN) last released its quarterly earnings data on Thursday, October 26th. The business services provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.24. FTI Consulting had a net margin of 2.70% and a return on equity of 6.12%. The business had revenue of $448.96 million during the quarter, compared to analyst estimates of $446.63 million. During the same quarter in the previous year, the business earned $0.52 EPS. FTI Consulting’s quarterly revenue was up 2.5% compared to the same quarter last year. sell-side analysts anticipate that FTI Consulting will post 2.06 earnings per share for the current fiscal year.
FTI Consulting announced that its board has initiated a stock repurchase plan on Monday, December 4th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
A number of institutional investors and hedge funds have recently made changes to their positions in FCN. Black Creek Investment Management Inc. raised its holdings in FTI Consulting by 19.6% in the 2nd quarter. Black Creek Investment Management Inc. now owns 4,512,287 shares of the business services provider’s stock worth $157,750,000 after acquiring an additional 739,072 shares during the period. Northern Trust Corp raised its holdings in FTI Consulting by 34.0% in the 2nd quarter. Northern Trust Corp now owns 1,230,348 shares of the business services provider’s stock worth $43,013,000 after acquiring an additional 311,939 shares during the period. S&T Bank PA bought a new position in FTI Consulting in the 2nd quarter worth $10,624,000. Great West Life Assurance Co. Can raised its holdings in FTI Consulting by 896.7% in the 3rd quarter. Great West Life Assurance Co. Can now owns 246,405 shares of the business services provider’s stock worth $8,747,000 after acquiring an additional 221,682 shares during the period. Finally, Lazard Asset Management LLC bought a new position in FTI Consulting in the 2nd quarter worth $6,503,000. Hedge funds and other 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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