FTI Consulting (NYSE:FCN) Hits New 1-Year High – What’s Next?

Shares of FTI Consulting, Inc. (NYSE:FCN) hit a new 52-week high during trading on Friday. The stock traded as high as $202.93 and last traded at $202.58, with a volume of 38,468 shares changing hands. The stock had previously closed at $198.62.

Analyst Ratings Changes

Several research firms have commented on FCN. Truist Financial restated a “hold” rating and issued a $180.00 price target (up from $158.00) on shares of FTI Consulting in a research note on Monday, November 2nd. Weiss Ratings upgraded FTI Consulting from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, October 26th. Two investment analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, FTI Consulting presently has a consensus rating of “Hold” and an average target price of $174.50.

FTI Consulting Stock Performance

The stock has a 50-day moving average price of $156.04 and a 200 day moving average price of $160.78. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 25.26 and a beta of -0.15.

FTI Consulting (NYSE:FCN) last issued its earnings results on Thursday, October 29th. The business services provider reported $3.84 earnings per share for the quarter, beating the consensus estimate of $2.74 by $1.10. FTI Consulting had a net margin of 5.86% and a return on equity of 18.41%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the company earned $2.60 earnings per share. The firm’s revenue was up 5.9% compared to the same quarter last year. On average, analysts forecast that FTI Consulting, Inc. will post 9.81 EPS for the current year.

Hedge Funds Weigh In On FTI Consulting

Several large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of FTI Consulting in the 2nd quarter valued at about $408,202,000. Dimensional Fund Advisors LP lifted its stake in FTI Consulting by 6.9% during the first quarter. Dimensional Fund Advisors LP now owns 921,218 shares of the business services provider’s stock worth $162,836,000 after purchasing an additional 59,524 shares during the last quarter. Neumeier Poma Investment Counsel LLC acquired a new position in FTI Consulting in the second quarter valued at approximately $44,699,275. Quantinno Capital Management LP boosted its holdings in FTI Consulting by 141.6% in the first quarter. Quantinno Capital Management LP now owns 256,490 shares of the business services provider’s stock valued at $45,340,000 after purchasing an additional 150,348 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in FTI Consulting by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 209,668 shares of the business services provider’s stock valued at $37,063,000 after purchasing an additional 4,603 shares during the last quarter. Hedge funds and other institutional investors own 99.36% of the company’s stock.

About FTI Consulting

FTI Consulting, Inc. is a global business advisory firm that helps organizations address financial, legal, operational, regulatory and reputational challenges. Founded in 1982, the company serves businesses, law firms, government agencies and other organizations. Its services span corporate finance and restructuring, forensic and litigation consulting, economic consulting, technology and strategic communications. Work may include advising on restructuring and transactions, investigating disputes and misconduct, providing expert analysis in legal matters, managing electronic evidence and supporting communications during significant events.