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

FTI Consulting, Inc. (NYSE:FCN) shares gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. 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.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on FCN shares. William Blair restated an “outperform” rating on shares of FTI Consulting in a report on Friday. StockNews.com lowered FTI Consulting from a “buy” rating to a “hold” rating in a report on Friday. Finally, Truist Financial upped their price objective on FTI Consulting from $240.00 to $255.00 and gave the company a “buy” rating in a report on Friday, February 23rd.

Insider Activity

In related news, Director Brenda J. Bacon bought 1,120 shares of FTI Consulting 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 acquisition, the director now directly owns 15,292 shares in the company, valued at approximately $3,409,504.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel Curtis P. Lu sold 2,656 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $217.08, for a total transaction of $576,564.48. Following the completion of the sale, the general counsel now directly owns 29,190 shares of the company’s stock, valued at $6,336,565.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Brenda J. Bacon bought 1,120 shares of FTI Consulting stock in a transaction dated Friday, February 23rd. The shares were bought 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 owns 15,292 shares of the company’s stock, valued at $3,409,504.32. The disclosure for this purchase can be found here. Insiders sold a total of 36,715 shares of company stock worth $7,617,513 over the last 90 days. 3.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FTI Consulting

Several hedge funds have recently modified their holdings of FCN. SG Americas Securities LLC purchased a new stake in FTI Consulting in the 3rd quarter worth about $431,000. Oak Thistle LLC purchased a new stake in FTI Consulting in the 3rd quarter worth about $758,000. Peregrine Capital Management LLC lifted its stake in FTI Consulting by 3.5% in the 3rd quarter. Peregrine Capital Management LLC now owns 90,599 shares of the business services provider’s stock worth $16,164,000 after acquiring an additional 3,087 shares in the last quarter. Dakota Wealth Management lifted its stake in FTI Consulting by 348.8% in the 3rd quarter. Dakota Wealth Management now owns 5,044 shares of the business services provider’s stock worth $900,000 after acquiring an additional 3,920 shares in the last quarter. Finally, Tectonic Advisors LLC purchased a new stake in FTI Consulting in the 3rd quarter worth about $223,000. 99.36% of the stock is owned by hedge funds and other institutional investors.

FTI Consulting Stock Performance

The firm has a 50 day moving average of $207.20 and a 200-day moving average of $205.27. The stock has a market capitalization of $7.54 billion, a PE ratio of 24.58 and a beta of 0.11. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.74 and a current ratio of 2.46.

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.