FTI Consulting (NYSE:FCN) Shares Gap Down After Earnings Miss

FTI Consulting, Inc. (NYSE:FCN)’s share price gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $229.50, but opened at $211.96. FTI Consulting shares last traded at $200.45, with a volume of 24,943 shares changing hands.

The business services provider reported $1.85 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.21). 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 during the quarter, compared to analysts’ expectations of $946.16 million. During the same quarter last year, the company posted $2.34 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On FTI Consulting

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. increased its stake in shares of FTI Consulting by 76.6% in the third quarter. UMB Bank n.a. now owns 166 shares of the business services provider’s stock worth $38,000 after acquiring an additional 72 shares during the last quarter. Signaturefd LLC increased its position in 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. Covestor Ltd raised its stake in shares of FTI Consulting by 76.4% during the 1st quarter. Covestor Ltd now owns 217 shares of the business services provider’s stock worth $46,000 after purchasing an additional 94 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of FTI Consulting by 593.8% during the 2nd quarter. Versant Capital Management Inc now owns 222 shares of the business services provider’s stock valued at $48,000 after buying an additional 190 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in shares of FTI Consulting by 284.1% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 242 shares of the business services provider’s stock valued at $52,000 after buying an additional 179 shares in the last quarter. Hedge funds and other institutional investors own 99.36% of the company’s stock.

FTI Consulting Stock Down 1.2 %

The stock has a market cap of $7.10 billion, a price-to-earnings ratio of 23.14 and a beta of 0.10. The business has a fifty day moving average of $223.66 and a 200 day moving average of $219.23. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.20 and a quick ratio of 2.20.

FTI Consulting Company Profile

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.