FTI Consulting, Inc. (FCN) Stock Rating Upgraded by Zacks Investment Research
FTI Consulting, Inc. (NYSE:FCN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday. The firm presently has a $49.00 target price on the business services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 14.62% from the company’s previous close.
According to Zacks, “FTI Consulting reported healthy third-quarter 2017 results with earnings comfortably beating the Zacks Consensus Estimate. The company has elected few highly qualified executive officers for improving its operational performance in the long term. These drivers are expected to enhance the economic performance of the segments and are likely to reap benefits for the company in 2017. FTI Consulting’s unique capabilities of bringing together damage assessment, accounting, economics, statistics, finance and industry under a single umbrella make it an excellent partner for global clients dealing with international arbitration issues, thereby generating continued revenue growth from the existing international operations. However, 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. FTI Consulting underperformed the industry year to date.”
Several other analysts have also issued reports on FCN. BidaskClub lowered FTI Consulting from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. TheStreet raised FTI Consulting from a “c” rating to a “b” rating in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the stock. FTI Consulting presently has an average rating of “Hold” and an average target price of $44.33.
FTI Consulting (FCN) opened at 42.75 on Monday. FTI Consulting has a one year low of $31.65 and a one year high of $47.12. The firm’s 50 day moving average price is $36.60 and its 200-day moving average price is $35.07. The company has a market capitalization of $1.69 billion, a PE ratio of 46.77 and a beta of 0.28.
FTI Consulting (NYSE:FCN) last released its earnings results on Thursday, October 26th. The business services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.24. The company had revenue of $448.96 million for the quarter, compared to analyst estimates of $446.63 million. FTI Consulting had a return on equity of 6.12% and a net margin of 2.70%. FTI Consulting’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 EPS. Equities analysts forecast that FTI Consulting will post $2.06 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. Riverhead Capital Management LLC lifted its position in shares of FTI Consulting by 81.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,898 shares of the business services provider’s stock worth $101,000 after buying an additional 1,298 shares during the last quarter. LS Investment Advisors LLC lifted its position in shares of FTI Consulting by 17.4% during the 2nd 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. Public Employees Retirement System of Ohio lifted its position in shares of FTI Consulting by 12.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,698 shares of the business services provider’s stock worth $164,000 after buying an additional 533 shares during the last quarter. Amalgamated Bank lifted its position in shares of FTI Consulting by 0.6% during the 2nd quarter. Amalgamated Bank now owns 5,870 shares of the business services provider’s stock worth $205,000 after buying an additional 37 shares during the last quarter. Finally, Capstone Asset Management Co. lifted its position in shares of FTI Consulting by 4.9% during the 2nd quarter. Capstone Asset Management Co. now owns 5,956 shares of the business services provider’s stock worth $208,000 after buying an additional 280 shares during the last quarter. Institutional investors and hedge funds own 92.07% of the company’s stock.
About FTI Consulting
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.
Receive News & Ratings for FTI Consulting Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FTI Consulting Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.