Brandes Investment Partners LP lowered its position in shares of FTI Consulting, Inc. (NYSE:FCN) by 4.0% in the 4th quarter, Holdings Channel reports. The firm owned 390,249 shares of the business services provider’s stock after selling 16,226 shares during the quarter. Brandes Investment Partners LP’s holdings in FTI Consulting were worth $16,765,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of FCN. Public Employees Retirement System of Ohio lifted its stake in FTI Consulting by 12.8% during the second quarter. Public Employees Retirement System of Ohio now owns 4,698 shares of the business services provider’s stock worth $164,000 after purchasing an additional 533 shares during the last quarter. Pinebridge Investments L.P. bought a new stake in shares of FTI Consulting in the 3rd quarter valued at about $174,000. Magnetar Financial LLC bought a new stake in shares of FTI Consulting in the 3rd quarter valued at about $201,000. CIBC Asset Management Inc bought a new stake in shares of FTI Consulting in the 4th quarter valued at about $217,000. Finally, LMR Partners LLP bought a new stake in shares of FTI Consulting in the 3rd quarter valued at about $227,000. 93.45% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised FTI Consulting from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Friday, February 23rd. ValuEngine raised FTI Consulting from a “hold” rating to a “buy” rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. FTI Consulting currently has a consensus rating of “Hold” and a consensus target price of $45.50.
FTI Consulting (NYSE:FCN) last released its earnings results on Thursday, February 22nd. The business services provider reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.28. FTI Consulting had a return on equity of 7.80% and a net margin of 5.97%. The company had revenue of $467.71 million during the quarter, compared to analyst estimates of $450.52 million. During the same quarter in the previous year, the company posted $0.24 EPS. FTI Consulting’s revenue for the quarter was up 5.8% on a year-over-year basis. analysts expect that FTI Consulting, Inc. will post 2.52 earnings per share for the current year.
FTI Consulting announced that its board has authorized 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. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
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FTI Consulting 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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