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

Shares of FTI Consulting, Inc. (NYSE:FCN) gapped up prior to trading 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 traded.

The business services provider reported $2.23 earnings per share 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 business had revenue of $928.60 million during the quarter, compared to analysts’ expectations of $901.77 million. During the same period in the prior year, the business earned $1.34 EPS. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FCN. William Blair reiterated 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 research report on Friday. Finally, Truist Financial boosted their price target 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, insider Paul Alderman Linton sold 27,000 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $206.10, for a total value of $5,564,700.00. Following the completion of the transaction, the insider now directly owns 44,284 shares of the company’s stock, valued at approximately $9,126,932.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other FTI Consulting 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 bought at an average cost of $222.96 per share, with a total value of $249,715.20. Following the transaction, the director now directly owns 15,292 shares of the company’s stock, valued at approximately $3,409,504.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Alderman Linton sold 27,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $206.10, for a total value of $5,564,700.00. Following the transaction, the insider now directly owns 44,284 shares in the company, valued at $9,126,932.40. The disclosure for this sale can be found here. In the last three months, insiders sold 36,715 shares of company stock valued at $7,617,513. Corporate insiders own 3.34% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FCN. Arlington Trust Co LLC acquired a new position in FTI Consulting during the 3rd quarter valued at about $28,000. Fifth Third Bancorp increased its holdings in shares of FTI Consulting by 37.1% in the third quarter. Fifth Third Bancorp now owns 218 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 59 shares during the period. Tompkins Financial Corp acquired a new position in shares of FTI Consulting in the fourth quarter valued at about $40,000. Blue Trust Inc. increased its holdings in shares of FTI Consulting by 30.1% in the fourth quarter. Blue Trust Inc. now owns 272 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 63 shares during the period. Finally, Quarry LP acquired a new position in shares of FTI Consulting in the fourth quarter valued at about $56,000. 99.36% of the stock is owned by institutional investors and hedge funds.

FTI Consulting Price Performance

The business has a fifty day moving average price of $207.20 and a two-hundred day moving average price of $205.27. The firm has a market capitalization of $7.54 billion, a price-to-earnings ratio of 27.57 and a beta of 0.11.

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.