FTI Consulting (NYSE:FCN) Hits New 12-Month Low Following Weak Earnings

FTI Consulting, Inc. (NYSE:FCN) hit a new 52-week low during mid-day trading on Thursday following a weaker than expected 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 the consensus estimate of $1.73 by ($0.17). FTI Consulting had a return on equity of 14.79% and a net margin of 8.37%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of FTI Consulting from a “hold” rating to a “buy” rating in a research report on Saturday, November 2nd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FCN. Creative Planning boosted its holdings in FTI Consulting by 10.5% during the third quarter. Creative Planning now owns 6,264 shares of the business services provider’s stock worth $1,425,000 after purchasing an additional 597 shares during the last quarter. Blue Trust Inc. boosted its holdings in FTI Consulting by 88.8% during the third quarter. Blue Trust Inc. now owns 1,578 shares of the business services provider’s stock worth $340,000 after purchasing an additional 742 shares during the last quarter. Raymond James & Associates boosted its holdings in FTI Consulting by 3.6% during the third quarter. Raymond James & Associates now owns 143,305 shares of the business services provider’s stock worth $32,610,000 after purchasing an additional 5,044 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in FTI Consulting by 3.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,721 shares of the business services provider’s stock worth $847,000 after purchasing an additional 129 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in FTI Consulting by 629.5% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 642 shares of the business services provider’s stock worth $146,000 after purchasing an additional 554 shares during the last quarter. 99.36% of the stock is currently owned by hedge funds and other institutional investors.

FTI Consulting Price Performance

The stock has a market capitalization of $5.85 billion, a PE ratio of 18.70 and a beta of 0.15. The stock’s 50 day simple moving average is $192.68 and its two-hundred day simple moving average is $207.13.

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.