$452.33 Million in Sales Expected for FTI Consulting, Inc. (FCN) This Quarter
Analysts predict that FTI Consulting, Inc. (NYSE:FCN) will announce $452.33 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for FTI Consulting’s earnings, with the lowest sales estimate coming in at $449.00 million and the highest estimate coming in at $457.90 million. FTI Consulting reported sales of $441.92 million during the same quarter last year, which would suggest a positive year over year growth rate of 2.4%. The business is scheduled to report its next quarterly earnings report before the market opens on Thursday, February 22nd.
According to Zacks, analysts expect that FTI Consulting will report full year sales of $452.33 million for the current financial year, with estimates ranging from $1.79 billion to $1.80 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.85 billion per share, with estimates ranging from $1.84 billion to $1.85 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow FTI Consulting.
Several equities analysts have recently weighed in on FCN shares. TheStreet upgraded shares of FTI Consulting from a “c” rating to a “b” rating in a research note on Thursday, October 26th. Zacks Investment Research upgraded shares of FTI Consulting from a “hold” rating to a “strong-buy” rating and set a $49.00 price objective on the stock in a research note on Monday, October 30th.
FTI Consulting announced that its board has initiated a stock buyback program on Monday, December 4th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
Institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its holdings in FTI Consulting by 12.8% in 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 acquiring an additional 533 shares in the last quarter. Pinebridge Investments L.P. purchased a new stake in FTI Consulting in the 3rd quarter worth approximately $174,000. CIBC Asset Management Inc purchased a new stake in FTI Consulting in the 4th quarter worth approximately $217,000. Uncommon Cents Investing LLC purchased a new stake in FTI Consulting in the 4th quarter worth approximately $232,000. Finally, Magnetar Financial LLC purchased a new stake in FTI Consulting in the 3rd quarter worth approximately $201,000. 97.44% of the stock is owned by institutional investors.
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FTI Consulting Company 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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