FTI Consulting (FCN) Downgraded by Zacks Investment Research to Hold

FTI Consulting (NYSE:FCN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday.

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. Moreover, increased regulatory scrutiny and a proliferation of corporate litigation are likely to increase the demand for the company’s products. Additionally, structural change has become a necessity in the rapidly evolving global markets to fend off competition. FTI Consulting has outperformed the industry in the last three months. However, the company is likely to be stifled by the renegotiated deals and restrictions imposed on trade with other European Union members post Brexit referendum.”

Separately, ValuEngine raised FTI Consulting from a “hold” rating to a “buy” rating in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $45.50.

Shares of NYSE FCN opened at $56.66 on Wednesday. FTI Consulting has a 1-year low of $31.65 and a 1-year high of $56.94. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $1,927.49, a price-to-earnings ratio of 21.75 and a beta of 0.20.

FTI Consulting (NYSE:FCN) last issued its quarterly earnings results on Thursday, April 26th. The business services provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.42. The company had revenue of $497.77 million for the quarter, compared to analyst estimates of $456.68 million. FTI Consulting had a return on equity of 7.80% and a net margin of 5.97%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the company earned $0.34 earnings per share. sell-side analysts anticipate that FTI Consulting will post 2.53 EPS for the current fiscal year.

In other news, CAO Catherine M. Freeman sold 6,088 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $48.44, for a total transaction of $294,902.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.33% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC bought a new position in FTI Consulting during the fourth quarter valued at about $204,000. Verition Fund Management LLC bought a new position in FTI Consulting during the fourth quarter valued at about $209,000. CIBC Asset Management Inc bought a new position in FTI Consulting during the fourth quarter valued at about $217,000. Xact Kapitalforvaltning AB bought a new position in FTI Consulting during the fourth quarter valued at about $220,000. Finally, Uncommon Cents Investing LLC bought a new position in FTI Consulting during the fourth quarter valued at about $232,000. 98.75% of the stock is owned by institutional investors and hedge funds.

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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