FTI Consulting (NYSE:FCN) Shares Down 2.5% – Here’s What Happened

FTI Consulting, Inc. (NYSE:FCN)’s share price was down 2.5% during mid-day trading on Wednesday . The company traded as low as $190.90 and last traded at $192.01. Approximately 34,223 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 151,041 shares. The stock had previously closed at $197.01.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on FCN shares. StockNews.com upgraded FTI Consulting from a “hold” rating to a “buy” rating in a research note on Saturday, November 2nd. Truist Financial increased their target price on FTI Consulting from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th.

FTI Consulting Price Performance

The stock’s fifty day simple moving average is $197.62 and its two-hundred day simple moving average is $212.59. The company has a market capitalization of $6.93 billion, a price-to-earnings ratio of 22.17 and a beta of 0.14.

FTI Consulting (NYSE:FCN) last released its quarterly earnings data on Thursday, October 24th. The business services provider reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.21). FTI Consulting had a return on equity of 14.79% and a net margin of 8.37%. The business had revenue of $926.00 million for the quarter, compared to analyst estimates of $946.16 million. During the same quarter last year, the company earned $2.34 EPS. FTI Consulting’s revenue was up 3.7% compared to the same quarter last year. On average, sell-side analysts predict that FTI Consulting, Inc. will post 8.1 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FCN. UMB Bank n.a. lifted its stake in shares of 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 purchasing an additional 72 shares during the last quarter. Truist Financial Corp increased its position in FTI Consulting by 2.1% during the second quarter. Truist Financial Corp now owns 3,757 shares of the business services provider’s stock worth $810,000 after buying an additional 76 shares during the last quarter. SkyView Investment Advisors LLC raised its holdings in FTI Consulting by 1.1% during the second quarter. SkyView Investment Advisors LLC now owns 8,184 shares of the business services provider’s stock valued at $1,764,000 after buying an additional 86 shares in the last quarter. Cabot Wealth Management Inc. lifted its position in shares of FTI Consulting by 0.6% in the third quarter. Cabot Wealth Management Inc. now owns 15,271 shares of the business services provider’s stock worth $3,475,000 after buying an additional 94 shares during the last quarter. Finally, Portside Wealth Group LLC lifted its position in shares of FTI Consulting by 6.9% in the third quarter. Portside Wealth Group LLC now owns 1,563 shares of the business services provider’s stock worth $356,000 after buying an additional 101 shares during the last quarter. Institutional investors and hedge funds own 99.36% of the company’s stock.

About FTI Consulting

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.