FTI Consulting, Inc. (FCN) Expected to Post Quarterly Sales of $448.89 Million
Equities analysts expect that FTI Consulting, Inc. (NYSE:FCN) will announce $448.89 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for FTI Consulting’s earnings, with the highest sales estimate coming in at $452.10 million and the lowest estimate coming in at $442.64 million. FTI Consulting posted sales of $438.04 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.5%. The firm is scheduled to issue its next quarterly earnings report on Thursday, October 26th.
According to Zacks, analysts expect that FTI Consulting will report full-year sales of $448.89 million for the current fiscal year, with estimates ranging from $1.78 billion to $1.80 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.83 billion per share, with estimates ranging from $1.80 billion to $1.87 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover FTI Consulting.
FTI Consulting (NYSE:FCN) last announced its earnings results on Thursday, July 27th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.13). The firm had revenue of $447.70 million during the quarter, compared to analysts’ expectations of $455.55 million. FTI Consulting had a return on equity of 5.18% and a net margin of 2.13%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 earnings per share.
A number of brokerages have commented on FCN. BidaskClub raised FTI Consulting from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 9th. Zacks Investment Research cut FTI Consulting from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. FTI Consulting presently has an average rating of “Hold” and an average target price of $43.00.
Shares of FTI Consulting (NYSE FCN) traded up 0.49% on Tuesday, reaching $35.19. The company’s stock had a trading volume of 210,864 shares. FTI Consulting has a 12-month low of $31.65 and a 12-month high of $47.12. The stock has a market cap of $1.39 billion, a PE ratio of 38.50 and a beta of 0.28. The firm has a 50 day moving average price of $33.33 and a 200-day moving average price of $35.81.
Several large investors have recently bought and sold shares of the stock. Black Creek Investment Management Inc. increased its holdings in shares of FTI Consulting by 19.6% in the second quarter. Black Creek Investment Management Inc. now owns 4,512,287 shares of the business services provider’s stock valued at $157,750,000 after purchasing an additional 739,072 shares during the last quarter. BlackRock Inc. increased its holdings in shares of FTI Consulting by 16,640.5% in the first quarter. BlackRock Inc. now owns 4,414,475 shares of the business services provider’s stock valued at $181,743,000 after purchasing an additional 4,388,105 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of FTI Consulting by 6.5% in the first quarter. Vanguard Group Inc. now owns 3,561,878 shares of the business services provider’s stock valued at $146,642,000 after purchasing an additional 217,209 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of FTI Consulting by 11.5% in the first quarter. Victory Capital Management Inc. now owns 1,512,299 shares of the business services provider’s stock valued at $62,262,000 after purchasing an additional 155,667 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of FTI Consulting by 3.5% in the second quarter. State Street Corp now owns 1,349,945 shares of the business services provider’s stock valued at $47,192,000 after purchasing an additional 45,366 shares during the last quarter. 92.28% of the stock is owned by hedge funds and other institutional investors.
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About FTI Consulting
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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