FTI Consulting (NYSE:FCN) Shares Gap Up on Better-Than-Expected Earnings

FTI Consulting, Inc. (NYSE:FCN) shares gapped up before the market opened on Thursday following a better than expected earnings announcement. 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 14.94% and a net margin of 7.88%. The company had revenue of $928.60 million for the quarter, compared to analysts’ expectations of $901.77 million. During the same quarter in the previous year, the firm posted $1.34 EPS. The firm’s quarterly revenue was up 15.1% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FCN shares. StockNews.com cut FTI Consulting from a “buy” rating to a “hold” rating in a research report on Friday. William Blair reiterated an “outperform” rating on shares of FTI Consulting in a research report on Friday. Finally, Truist Financial boosted their target price 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 other news, Director Brenda J. Bacon purchased 1,120 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were acquired at an average price of $222.96 per share, with a total value of $249,715.20. Following the purchase, the director now directly owns 15,292 shares of the company’s stock, valued at $3,409,504.32. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Brenda J. Bacon bought 1,120 shares of FTI Consulting stock in a transaction that occurred on Friday, February 23rd. The shares were purchased at an average price of $222.96 per share, with a total value of $249,715.20. Following the purchase, the director now owns 15,292 shares in the company, valued at $3,409,504.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Curtis P. Lu sold 2,656 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $217.08, for a total value of $576,564.48. Following the completion of the sale, the general counsel now directly owns 29,190 shares in the company, valued at approximately $6,336,565.20. The disclosure for this sale can be found here. Insiders have sold 36,715 shares of company stock valued at $7,617,513 in the last quarter. 3.34% of the stock is currently owned by corporate insiders.

Institutional Trading of FTI Consulting

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in FTI Consulting in the 3rd quarter valued at about $431,000. Oak Thistle LLC purchased a new position in FTI Consulting in the 3rd quarter valued at about $758,000. Peregrine Capital Management LLC boosted its position 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 valued at $16,164,000 after buying an additional 3,087 shares during the last quarter. Dakota Wealth Management boosted its position 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 valued at $900,000 after buying an additional 3,920 shares during the last quarter. Finally, Tectonic Advisors LLC purchased a new position in FTI Consulting in the 3rd quarter valued at about $223,000. 99.36% of the stock is currently owned by institutional investors and hedge funds.

FTI Consulting Trading Down 1.8 %

The business’s 50-day simple moving average is $207.20 and its two-hundred day simple moving average is $205.27. The company has a market capitalization of $7.54 billion, a PE ratio of 27.57 and a beta of 0.11.

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.