FTI Consulting (NYSE:FCN) Sets New 52-Week Low on Disappointing Earnings

FTI Consulting, Inc. (NYSE:FCN) reached a new 52-week low during mid-day trading on Thursday following a dissappointing earnings announcement. The company traded as low as $180.86 and last traded at $173.76, with a volume of 27970 shares changing hands. The stock had previously closed at $190.16.

The business services provider reported $1.56 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.17). FTI Consulting had a net margin of 8.37% and a return on equity of 14.79%. The firm had revenue of $894.92 million for the quarter, compared to analysts’ expectations of $913.70 million.

Analysts Set New Price Targets

FCN has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut their price target on shares of FTI Consulting from $194.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday. Truist Financial cut their price target on shares of FTI Consulting from $275.00 to $225.00 and set a “buy” rating on the stock in a report on Friday. Finally, StockNews.com downgraded shares of FTI Consulting from a “buy” rating to a “hold” rating in a research report on Friday.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FCN. Mawer Investment Management Ltd. raised its position in FTI Consulting by 3.2% in the third quarter. Mawer Investment Management Ltd. now owns 3,916,333 shares of the business services provider’s stock worth $891,201,000 after acquiring an additional 123,177 shares during the period. Montanaro Asset Management Ltd raised its position in shares of FTI Consulting by 11.1% during the 3rd quarter. Montanaro Asset Management Ltd now owns 30,000 shares of the business services provider’s stock valued at $6,827,000 after purchasing an additional 3,000 shares during the period. Dakota Wealth Management raised its position in shares of FTI Consulting by 570.2% during the 4th quarter. Dakota Wealth Management now owns 6,521 shares of the business services provider’s stock valued at $1,246,000 after purchasing an additional 5,548 shares during the period. Financial Enhancement Group LLC raised its position in shares of FTI Consulting by 92.0% during the 4th quarter. Financial Enhancement Group LLC now owns 46,569 shares of the business services provider’s stock valued at $9,079,000 after purchasing an additional 22,310 shares during the period. Finally, Crossmark Global Holdings Inc. raised its position in shares of FTI Consulting by 176.5% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,454 shares of the business services provider’s stock valued at $1,469,000 after purchasing an additional 4,120 shares during the period. Institutional investors own 99.36% of the company’s stock.

FTI Consulting Stock Performance

The stock has a market capitalization of $5.91 billion, a P/E ratio of 18.91 and a beta of 0.15. The company’s 50-day moving average price is $192.00 and its 200 day moving average price is $206.78.

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.