FTI Consulting, Inc. (NYSE:FCN) Downgraded to “Sell” at Zacks Investment Research
Zacks Investment Research lowered shares of FTI Consulting, Inc. (NYSE:FCN) from a hold rating to a sell rating in a research report released on Friday.
According to Zacks, “FTI Consulting reported dismal second-quarter 2017 results, missing the Zacks Consensus Estimate by $0.13. It has also underperformed the industry with a negative average return of 8.2% as against a positive 5.4% for the latter, over the last 90 days. The company is highly exposed to foreign exchange rate risks and pricing pressure due to the Brexit referendum, undermining its growth prospects to some extent. The company is likely to be stifled by the higher tariff and non-tariff barriers to trade between the U.K. and the European Union, lowering its productivity. Clients’ spending patterns also remain cautious, given the concerns over the current market environment, volatile financial markets and a lack of visibility regarding the impact of future tax and regulatory policies. However, acquisitions in high-growth segments and strategic hires could turn the company’s fortunes in the future.”
Several other brokerages have also commented on FCN. BidaskClub raised shares of FTI Consulting from a sell rating to a hold rating in a report on Thursday, June 29th. Deutsche Bank AG cut their price target on shares of FTI Consulting from $47.00 to $38.00 and set a hold rating for the company in a report on Friday, April 28th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. FTI Consulting presently has an average rating of Hold and an average price target of $43.00.
Shares of FTI Consulting (NYSE:FCN) traded up 0.06% on Friday, hitting $32.83. The stock had a trading volume of 153,466 shares. The stock has a market capitalization of $1.30 billion, a PE ratio of 35.92 and a beta of 0.29. The firm’s 50 day moving average is $33.95 and its 200-day moving average is $37.93. FTI Consulting has a one year low of $31.65 and a one year high of $47.12.
FTI Consulting (NYSE:FCN) last posted 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. FTI Consulting had a net margin of 2.13% and a return on equity of 5.18%. The firm had revenue of $447.70 million during the quarter, compared to analyst estimates of $455.55 million. During the same quarter in the prior year, the firm earned $0.66 earnings per share. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities research analysts expect that FTI Consulting will post $1.90 earnings per share for the current fiscal year.
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FTI Consulting announced that its board has initiated a share buyback program on Friday, May 19th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the business services provider to reacquire up to 7.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
Several large investors have recently added to or reduced their stakes in FCN. Meadow Creek Investment Management LLC raised its stake in FTI Consulting by 24.7% in the first quarter. Meadow Creek Investment Management LLC now owns 2,548 shares of the business services provider’s stock worth $105,000 after buying an additional 504 shares during the last quarter. Acrospire Investment Management LLC raised its stake in FTI Consulting by 57.9% in the first quarter. Acrospire Investment Management LLC now owns 2,726 shares of the business services provider’s stock worth $112,000 after buying an additional 1,000 shares during the last quarter. LS Investment Advisors LLC raised its stake in FTI Consulting by 17.4% in the second quarter. LS Investment Advisors LLC now owns 3,307 shares of the business services provider’s stock worth $116,000 after buying an additional 491 shares during the last quarter. TrimTabs Asset Management LLC acquired a new stake in FTI Consulting during the first quarter worth about $121,000. Finally, Glen Harbor Capital Management LLC raised its stake in FTI Consulting by 24.7% in the first quarter. Glen Harbor Capital Management LLC now owns 3,094 shares of the business services provider’s stock worth $128,000 after buying an additional 612 shares during the last quarter. 96.35% 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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