FTI Consulting (NYSE:FCN) Updates FY 2022 Earnings Guidance

FTI Consulting (NYSE: FCN – received rating) released an update to its earnings guidance for fiscal 2022 on Thursday morning. The company provided earnings guidance of $6,400 to $7,200 per share for the period, compared to Thomson Reuters consensus estimate for earnings per share of $7,530. The company issued a revenue guidance of $2.92 billion to $3.05 billion, compared to the consensus estimate of $2.86 billion.

A number of research companies have published reports on FCN. Truist Financial increased its target price on FTI Consulting to $200.00 from $165.00 in a research report on Tuesday, January 11. StockNews.com Downgraded FTI Consulting from a buy rating to a hold rating in a research report on Monday, February 28.

FCN shares fell $5.81 on Thursday afternoon to hit $149.29. The company’s shares had a trading volume of 165,742 shares compared to an average volume of 193,424. FTI Consulting has a 12-month low of $131.50 and a 12-month high of $157.86. The stock has a market cap of $5.13 billion, a P/E of 22.48, and a beta of 0.44. The company has a debt to equity ratio of 0.19, a current ratio of 1.91 and a quick ratio of 1.91. The company’s 50-day moving average is $147.88 and its 200-day moving average is $145.63.

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FTI Consulting (NYSE: FCN – received rating) last released its quarterly earnings data on Thursday, February 24. The business services company reported earnings per share of $1.13 for the quarter, beating analysts’ consensus estimate of $1.03 by $0.10. FTI Consulting had a return on equity of 15.84% and a net margin of 8.46%. The company had revenue of $676.23 million for the quarter, compared to the consensus estimate of $671.88 million. In the same quarter last year, the company posted $1.61 per share. The company’s revenue for the quarter rose 7.9% year over year. As a group, sell-side analysts expect FTI Consulting to post 6.81 EPS for the current fiscal year.

In related news, General Counsel Curtis P. Lu sold 4,238 shares of the company’s stock in a transaction that took place on Thursday, March 10th. The stock sold at an average price of $145.48 for a total transaction of $616,544.24. The transaction was disclosed in a filing with the SEC available at this link. In addition, director Vernon James Ellis sold 1,000 shares of the company in a transaction that took place on Wednesday, March 2nd. The stock sold at an average price of $146.71 for a total value of $146,710.00. Disclosure for this sale can be found here. Company insiders own 3.32% of the company’s shares.

A number of institutional investors have been buying and selling FCN stock recently. Goldman Sachs Group Inc. added 0.3% to its position in FTI Consulting during the fourth quarter. Goldman Sachs Group Inc. now owns 79,856 shares of the corporate services provider, valued at $12,251,000, having purchased an additional 258 shares during the period. LPL Financial LLC acquired a new interest in FTI Consulting valued at approximately $266,000 during the fourth quarter. MML Investors Services LLC increased its position in FTI Consulting by 11.5% during the fourth quarter. MML Investors Services LLC now owns 1,817 shares of the business services provider, valued at $279,000, having purchased an additional 188 shares during the period. Mackenzie Financial Corp acquired a new interest in FTI Consulting valued at approximately $229,000 during the fourth quarter. Finally, Legal & General Group Plc increased its position in FTI Consulting by 0.6% during the fourth quarter. Legal & General Group Plc now owns 83,113 shares of the corporate services provider, valued at $12,751,000, having purchased an additional 521 shares during the period. 98.64% of the shares are owned by institutional investors.

Company profile of FTI Consulting (received rating)

FTI Consulting, Inc is engaged in the provision of financial, legal, operational, policy and regulatory, reputational and transaction advisory services. It operates through the following segments: Corporate Finance and Restructuring, Forensic and Litigation Consulting, Business Consulting, Technology and Strategic Communications.

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Earnings History and Estimates for FTI Consulting (NYSE:FCN)

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