FTI Consulting (NYSE:FCN) Shares Gap Down Following Weak Earnings

Shares of FTI Consulting, Inc. (NYSE:FCN) gapped down before the market opened on Thursday following a weaker than expected 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.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on FCN shares. StockNews.com cut shares of FTI Consulting from a “buy” rating to a “hold” rating in a report on Friday. Truist Financial increased their price target on FTI Consulting from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th.

Hedge Funds Weigh In On FTI Consulting

Several large investors have recently made changes to their positions in FCN. Diversify Wealth Management LLC lifted its stake in FTI Consulting by 2.9% during the third quarter. Diversify Wealth Management LLC now owns 4,743 shares of the business services provider’s stock valued at $1,089,000 after purchasing an additional 132 shares during the last quarter. New York State Teachers Retirement System increased its holdings in shares of FTI Consulting by 4.4% in the third quarter. New York State Teachers Retirement System now owns 43,169 shares of the business services provider’s stock valued at $9,824,000 after buying an additional 1,806 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in shares of FTI Consulting during the 3rd quarter valued at $259,000. State of Alaska Department of Revenue boosted its stake in shares of FTI Consulting by 4.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 6,241 shares of the business services provider’s stock worth $1,419,000 after acquiring an additional 275 shares in the last quarter. Finally, GHP Investment Advisors Inc. grew its holdings in shares of FTI Consulting by 1.6% in the 3rd quarter. GHP Investment Advisors Inc. now owns 26,593 shares of the business services provider’s stock worth $6,051,000 after acquiring an additional 406 shares during the last quarter. Institutional investors own 99.36% of the company’s stock.

FTI Consulting Stock Down 1.2 %

The company has a market capitalization of $7.10 billion, a price-to-earnings ratio of 23.14 and a beta of 0.10. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $223.66 and a 200-day moving average price of $219.23.

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.