FTI Consulting (NYSE:FCN) Shares Gap Up After Earnings Beat

FTI Consulting, Inc. (NYSE:FCN) shares gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $213.74, but opened at $220.00. FTI Consulting shares last traded at $216.62, with a volume of 143,858 shares trading hands.

The business services provider reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.47. The company had revenue of $928.60 million for the quarter, compared to analyst estimates of $901.77 million. FTI Consulting had a net margin of 8.51% and a return on equity of 15.97%. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.34 earnings per share.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. William Blair reiterated an “outperform” rating on shares of FTI Consulting in a research note on Friday. StockNews.com downgraded FTI Consulting from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Truist Financial boosted their price objective on FTI Consulting from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd.

Insider Transactions at FTI Consulting

In related news, Director Brenda J. Bacon acquired 1,120 shares of the stock in a transaction dated Friday, February 23rd. The stock was acquired at an average cost of $222.96 per share, with a total value of $249,715.20. Following the completion of the transaction, the director now owns 15,292 shares in the company, valued at approximately $3,409,504.32. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Paul Alderman Linton sold 27,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $206.10, for a total value of $5,564,700.00. Following the completion of the transaction, the insider now directly owns 44,284 shares of the company’s stock, valued at $9,126,932.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brenda J. Bacon purchased 1,120 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was acquired at an average cost of $222.96 per share, with a total value of $249,715.20. Following the completion of the acquisition, the director now directly owns 15,292 shares of the company’s stock, valued at $3,409,504.32. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 36,715 shares of company stock valued at $7,617,513. 3.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FTI Consulting

Several large investors have recently modified their holdings of FCN. Arlington Trust Co LLC acquired a new stake in shares of FTI Consulting in the third quarter valued at approximately $28,000. Fifth Third Bancorp boosted its holdings in shares of FTI Consulting by 37.1% in the third quarter. Fifth Third Bancorp now owns 218 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 59 shares during the period. Tompkins Financial Corp acquired a new stake in shares of FTI Consulting in the fourth quarter valued at approximately $40,000. Blue Trust Inc. boosted its holdings in shares of FTI Consulting by 30.1% in the fourth quarter. Blue Trust Inc. now owns 272 shares of the business services provider’s stock valued at $54,000 after acquiring an additional 63 shares during the period. Finally, Quarry LP acquired a new stake in shares of FTI Consulting in the fourth quarter valued at approximately $56,000. 99.36% of the stock is owned by institutional investors and hedge funds.

FTI Consulting Price Performance

The firm has a market capitalization of $7.54 billion, a price-to-earnings ratio of 24.58 and a beta of 0.11. The company has a fifty day moving average price of $207.20 and a two-hundred day moving average price of $205.27. The company has a quick ratio of 1.74, a current ratio of 2.46 and a debt-to-equity ratio of 0.10.

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.