Oregon Public Employees Retirement Fund increased its position in shares of FTI Consulting, Inc. (NYSE:FCN) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,364 shares of the business services provider’s stock after buying an additional 593 shares during the period. Oregon Public Employees Retirement Fund’s holdings in FTI Consulting were worth $537,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. increased its position in shares of FTI Consulting by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 17,087 shares of the business services provider’s stock worth $598,000 after buying an additional 98 shares in the last quarter. Bank of Montreal Can increased its position in shares of FTI Consulting by 397.7% in the second quarter. Bank of Montreal Can now owns 12,920 shares of the business services provider’s stock worth $452,000 after buying an additional 10,324 shares in the last quarter. Capstone Asset Management Co. increased its position in shares of FTI Consulting by 4.9% in the second quarter. Capstone Asset Management Co. now owns 5,956 shares of the business services provider’s stock worth $208,000 after buying an additional 280 shares in the last quarter. Credit Suisse AG increased its position in shares of FTI Consulting by 1.9% in the first quarter. Credit Suisse AG now owns 65,012 shares of the business services provider’s stock worth $2,676,000 after buying an additional 1,225 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in shares of FTI Consulting during the first quarter worth about $399,000. 97.45% of the stock is currently owned by institutional investors.
FTI Consulting, Inc. (NYSE:FCN) opened at 31.93 on Friday. FTI Consulting, Inc. has a 1-year low of $31.65 and a 1-year high of $47.12. The firm has a market capitalization of $1.26 billion, a P/E ratio of 34.93 and a beta of 0.28. The company’s 50-day moving average price is $33.21 and its 200-day moving average price is $37.08.
FTI Consulting (NYSE:FCN) last posted its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.13. The firm had revenue of $447.70 million for the quarter, compared to the consensus estimate of $455.55 million. FTI Consulting had a net margin of 2.13% and a return on equity of 5.18%. The business’s revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 earnings per share. Equities research analysts expect that FTI Consulting, Inc. will post $1.87 earnings per share for the current fiscal year.
FTI Consulting announced that its board has authorized a stock buyback plan on Friday, May 19th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the business services provider to repurchase up to 7.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
A number of research analysts have recently issued reports on the company. BidaskClub raised FTI Consulting from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 9th. Zacks Investment Research downgraded FTI Consulting from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Deutsche Bank AG dropped their price objective on FTI Consulting from $47.00 to $38.00 and set a “hold” rating on the stock in a research note on Friday, April 28th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $43.00.
FTI Consulting Company Profile
FTI Consulting, Inc is a business advisory company. The Company operates through five segments: Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology and Strategic Communications. The Company provides advice and services, such as restructuring (including bankruptcy), capital formation and indebtedness, interim business management, performance improvements, forensic accounting and litigation matters, international arbitrations, mergers and acquisitions (M&A), antitrust and competition matters, securities litigation, electronic discovery (or e-discovery), management and retrieval of electronically stored information (ESI), reputation management and strategic communications.
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