FTI Consulting (NYSE:FCN) Shares Gap Down on Disappointing Earnings

FTI Consulting, Inc. (NYSE:FCN - Get Free Report) gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $229.50, but opened at $211.96. FTI Consulting shares last traded at $200.45, with a volume of 24,943 shares traded.

The business services provider reported $1.85 earnings per share for the quarter, missing analysts' consensus estimates of $2.06 by ($0.21). The firm had revenue of $926.00 million during the quarter, compared to analysts' expectations of $946.16 million. FTI Consulting had a net margin of 8.90% and a return on equity of 16.34%. The company's revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.34 EPS.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FCN. StockNews.com upgraded FTI Consulting from a "hold" rating to a "buy" rating in a report on Thursday, July 25th. Truist Financial raised their target price on FTI Consulting from $255.00 to $275.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th.

Insiders Place Their Bets

In other FTI Consulting news, Director Mark S. Bartlett sold 2,000 shares of the firm's stock in a transaction on Friday, July 26th. The stock was sold at an average price of $227.12, for a total value of $454,240.00. Following the completion of the sale, the director now directly owns 26,099 shares of the company's stock, valued at $5,927,604.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.51% of the company's stock.

Institutional Trading of FTI Consulting

Several institutional investors and hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. raised its holdings in FTI Consulting by 76.6% in the 3rd quarter. UMB Bank n.a. now owns 166 shares of the business services provider's stock valued at $38,000 after buying an additional 72 shares during the period. Signaturefd LLC raised its holdings in FTI Consulting by 65.9% in the 2nd quarter. Signaturefd LLC now owns 204 shares of the business services provider's stock valued at $44,000 after buying an additional 81 shares during the period. Covestor Ltd raised its holdings in FTI Consulting by 76.4% in the 1st quarter. Covestor Ltd now owns 217 shares of the business services provider's stock valued at $46,000 after buying an additional 94 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in FTI Consulting by 494.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 220 shares of the business services provider's stock valued at $46,000 after buying an additional 183 shares during the period. Finally, Versant Capital Management Inc raised its holdings in FTI Consulting by 593.8% in the 2nd quarter. Versant Capital Management Inc now owns 222 shares of the business services provider's stock valued at $48,000 after buying an additional 190 shares during the period. 99.36% of the stock is currently owned by hedge funds and other institutional investors.

FTI Consulting Stock Performance

The stock has a market capitalization of $7.19 billion, a PE ratio of 23.43 and a beta of 0.10. The firm's fifty day moving average is $224.17 and its 200-day moving average is $219.29. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.03.

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.