FTI Consulting, Inc. (NYSE:FCN - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $180.86 and last traded at $173.76, with a volume of 27970 shares traded. The stock had previously closed at $190.16.
The business services provider reported $1.56 earnings per share for the quarter, missing analysts' consensus estimates of $1.73 by ($0.17). FTI Consulting had a return on equity of 13.15% and a net margin of 7.57%. The business had revenue of $894.92 million during the quarter, compared to analyst estimates of $913.70 million.
Analyst Ratings Changes
Several equities research analysts have commented on FCN shares. StockNews.com lowered FTI Consulting from a "buy" rating to a "hold" rating in a research note on Friday. The Goldman Sachs Group cut their price objective on FTI Consulting from $194.00 to $173.00 and set a "neutral" rating for the company in a research note on Friday. Finally, Truist Financial cut their price objective on FTI Consulting from $275.00 to $225.00 and set a "buy" rating for the company in a research note on Friday.
View Our Latest Analysis on FCN
Institutional Investors Weigh In On FTI Consulting
Large investors have recently made changes to their positions in the stock. Prospera Private Wealth LLC purchased a new stake in shares of FTI Consulting in the third quarter valued at approximately $34,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of FTI Consulting in the third quarter valued at approximately $35,000. Quarry LP grew its position in shares of FTI Consulting by 337.8% in the third quarter. Quarry LP now owns 162 shares of the business services provider's stock valued at $37,000 after purchasing an additional 125 shares in the last quarter. True Wealth Design LLC purchased a new stake in shares of FTI Consulting in the third quarter valued at approximately $38,000. Finally, GeoWealth Management LLC grew its position in FTI Consulting by 46.0% in the fourth quarter. GeoWealth Management LLC now owns 181 shares of the business services provider's stock worth $35,000 after acquiring an additional 57 shares during the period. 99.36% of the stock is currently owned by hedge funds and other institutional investors.
FTI Consulting Stock Up 0.9 %
The company has a market capitalization of $5.91 billion, a PE ratio of 21.09 and a beta of 0.15. The firm has a 50-day moving average of $192.00 and a two-hundred day moving average of $206.78.
About FTI Consulting
(
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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.
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