FTI Consulting (NYSE:FCN) Reaches New 12-Month Low - Here's What Happened

FTI Consulting, Inc. (NYSE:FCN - Get Free Report) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $153.41 and last traded at $154.89, with a volume of 595835 shares. The stock had previously closed at $157.95.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. The Goldman Sachs Group cut their target price on shares of FTI Consulting from $194.00 to $173.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. StockNews.com downgraded shares of FTI Consulting from a "buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Finally, Truist Financial downgraded FTI Consulting from a "buy" rating to a "hold" rating and lowered their target price for the company from $225.00 to $178.00 in a research report on Wednesday, April 2nd.

FTI Consulting Stock Up 2.5 %

The stock has a market capitalization of $5.91 billion, a PE ratio of 21.08 and a beta of 0.21. The stock's 50 day moving average price is $169.21 and its 200-day moving average price is $191.46.

FTI Consulting (NYSE:FCN - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $1.56 earnings per share (EPS) 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 analysts' expectations of $913.70 million. On average, analysts forecast that FTI Consulting, Inc. will post 8.55 earnings per share for the current year.

Remove Ads

Hedge Funds Weigh In On FTI Consulting

Hedge funds have recently modified their holdings of the stock. CIBC Asset Management Inc grew its holdings in shares of FTI Consulting by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,083 shares of the business services provider's stock worth $207,000 after purchasing an additional 55 shares during the last quarter. GeoWealth Management LLC increased its position in shares of FTI Consulting by 46.0% during 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. Exchange Traded Concepts LLC raised its stake in shares of FTI Consulting by 2.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 3,435 shares of the business services provider's stock valued at $657,000 after acquiring an additional 85 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in FTI Consulting by 3.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,389 shares of the business services provider's stock worth $457,000 after purchasing an additional 89 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in FTI Consulting by 59.6% during the 4th quarter. UMB Bank n.a. now owns 265 shares of the business services provider's stock worth $51,000 after purchasing an additional 99 shares during the period. Hedge funds and other institutional investors own 99.36% of the company's stock.

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.