FTI Consulting (NYSE:FCN) Issues FY 2024 Earnings Guidance

FTI Consulting (NYSE:FCN) updated its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 8.100-8.600 for the period, compared to the consensus EPS estimate of 8.450. The company issued revenue guidance of $3.7 billion-$3.8 billion, compared to the consensus revenue estimate of $3.8 billion. FTI Consulting also updated its FY24 guidance to $8.10-8.60 EPS.

Analysts Set New Price Targets

FCN has been the topic of several research reports. StockNews.com upgraded FTI Consulting from a hold rating to a buy rating in a research note on Thursday. William Blair restated an outperform rating on shares of FTI Consulting in a research note on Tuesday, June 25th.

FTI Consulting Stock Performance

NYSE FCN opened at $225.42 on Friday. FTI Consulting has a twelve month low of $171.81 and a twelve month high of $243.60. The company has a quick ratio of 2.46, a current ratio of 2.20 and a debt-to-equity ratio of 0.03. The stock has a market cap of $8.05 billion, a P/E ratio of 26.21 and a beta of 0.09. The company’s 50-day simple moving average is $217.49 and its 200 day simple moving average is $209.85.

FTI Consulting (NYSE:FCN) last posted its quarterly earnings results on Thursday, July 25th. The business services provider reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.32. FTI Consulting had a net margin of 8.90% and a return on equity of 16.34%. The business had revenue of $949.16 million during the quarter, compared to the consensus estimate of $938.67 million. During the same period in the previous year, the firm posted $1.75 earnings per share. FTI Consulting’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, research analysts forecast that FTI Consulting will post 8.48 earnings per share for the current fiscal year.

Insider Transactions at FTI Consulting

In other FTI Consulting news, CFO Ajay Sabherwal sold 596 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $226.13, for a total value of $134,773.48. Following the transaction, the chief financial officer now owns 13,455 shares of the company’s stock, valued at $3,042,579.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other FTI Consulting news, CFO Ajay Sabherwal sold 596 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $226.13, for a total value of $134,773.48. Following the completion of the sale, the chief financial officer now owns 13,455 shares of the company’s stock, valued at $3,042,579.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gerard E. Holthaus sold 1,492 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $221.14, for a total transaction of $329,940.88. Following the completion of the sale, the director now owns 67,314 shares of the company’s stock, valued at approximately $14,885,817.96. The disclosure for this sale can be found here. Insiders have sold 51,088 shares of company stock worth $11,163,977 in the last three months. Insiders own 2.51% 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.