JPMorgan Chase & Co. Lowers Holdings in FTI Consulting, Inc. (FCN)
JPMorgan Chase & Co. cut its position in FTI Consulting, Inc. (NYSE:FCN) by 4.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 767,043 shares of the business services provider’s stock after selling 33,879 shares during the quarter. JPMorgan Chase & Co. owned about 2.02% of FTI Consulting worth $27,536,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of FCN. Amalgamated Bank grew its position in shares of FTI Consulting by 0.6% in the second quarter. Amalgamated Bank now owns 5,870 shares of the business services provider’s stock valued at $205,000 after purchasing an additional 37 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its position in shares of FTI Consulting by 0.8% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 7,155 shares of the business services provider’s stock valued at $291,000 after purchasing an additional 56 shares in the last quarter. Comerica Bank grew its position in shares of FTI Consulting by 0.8% in the second quarter. Comerica Bank now owns 32,062 shares of the business services provider’s stock valued at $1,061,000 after purchasing an additional 270 shares in the last quarter. Capstone Asset Management Co. grew its position in shares of FTI Consulting by 4.9% in the second quarter. Capstone Asset Management Co. now owns 5,956 shares of the business services provider’s stock valued at $208,000 after purchasing an additional 280 shares in the last quarter. Finally, Arizona State Retirement System grew its position in FTI Consulting by 1.8% during the second quarter. Arizona State Retirement System now owns 17,400 shares of the business services provider’s stock worth $608,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 97.21% of the company’s stock.
Several equities analysts recently commented on FCN shares. TheStreet upgraded FTI Consulting from a “c” rating to a “b” rating in a research report on Thursday, October 26th. Zacks Investment Research raised FTI Consulting from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $44.33.
FTI Consulting (NYSE:FCN) last released its earnings results on Thursday, October 26th. The business services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.24. FTI Consulting had a return on equity of 6.12% and a net margin of 2.70%. The company had revenue of $448.96 million during the quarter, compared to analyst estimates of $446.63 million. During the same quarter in the previous year, the company posted $0.52 EPS. FTI Consulting’s revenue for the quarter was up 2.5% on a year-over-year basis. sell-side analysts anticipate that FTI Consulting, Inc. will post 2.06 earnings per share for the current year.
FTI Consulting declared that its board has approved a share repurchase plan on Monday, December 4th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
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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