FTI Consulting (NYSE:FCN) Announces Earnings Results

FTI Consulting (NYSE:FCN) announced its quarterly earnings results on Thursday. The business services provider reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.32, Briefing.com reports. FTI Consulting had a return on equity of 16.34% and a net margin of 8.90%. The firm had revenue of $949.16 million for the quarter, compared to analysts’ expectations of $938.67 million. During the same period in the prior year, the business posted $1.75 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. FTI Consulting updated its FY24 guidance to $8.10-8.60 EPS and its FY 2024 guidance to 8.100-8.600 EPS.

FTI Consulting Price Performance

Shares of FCN stock traded down $0.22 during trading hours on Friday, hitting $225.42. 214,474 shares of the company’s stock were exchanged, compared to its average volume of 147,696. The stock’s 50-day moving average is $217.49 and its 200-day moving average is $209.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.20 and a quick ratio of 2.46. The stock has a market cap of $8.05 billion, a price-to-earnings ratio of 26.21 and a beta of 0.09. FTI Consulting has a 52 week low of $171.81 and a 52 week high of $243.60.

Insider Transactions at FTI Consulting

In other news, insider Paul Alderman Linton sold 16,552 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $216.78, for a total transaction of $3,588,142.56. Following the transaction, the insider now owns 53,416 shares of the company’s stock, valued at $11,579,520.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Gerard E. Holthaus sold 1,492 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $221.14, for a total transaction of $329,940.88. Following the transaction, the director now owns 67,314 shares of the company’s stock, valued at $14,885,817.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Alderman Linton sold 16,552 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $216.78, for a total value of $3,588,142.56. Following the transaction, the insider now directly owns 53,416 shares in the company, valued at approximately $11,579,520.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,088 shares of company stock worth $11,163,977. Insiders own 2.51% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on FCN. StockNews.com upgraded FTI Consulting from a “hold” rating to a “buy” rating in a research report on Thursday. William Blair restated an “outperform” rating on shares of FTI Consulting in a report on Tuesday, June 25th.

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.