FTI Consulting (NYSE:FCN) Raised to Buy at SunTrust Banks

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SunTrust Banks upgraded shares of FTI Consulting (NYSE:FCN) from a hold rating to a buy rating in a research report report published on Wednesday morning, Benzinga reports. SunTrust Banks currently has $84.70 target price on the business services provider’s stock. SunTrust Banks also issued estimates for FTI Consulting’s Q3 2019 earnings at $0.92 EPS, Q4 2019 earnings at $0.93 EPS, FY2019 earnings at $4.28 EPS, Q1 2020 earnings at $1.10 EPS, Q2 2020 earnings at $1.11 EPS, Q3 2020 earnings at $1.09 EPS, Q4 2020 earnings at $1.09 EPS, FY2020 earnings at $4.39 EPS and FY2021 earnings at $4.68 EPS.

Separately, ValuEngine lowered shares of W&T Offshore from a hold rating to a sell rating in a research report on Friday, April 26th.

FCN stock opened at $91.94 on Wednesday. The company has a 50 day moving average price of $84.62. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.35 and a quick ratio of 2.35. FTI Consulting has a 12 month low of $59.06 and a 12 month high of $92.25. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 19.99 and a beta of 0.26.

FTI Consulting (NYSE:FCN) last released its quarterly earnings data on Thursday, April 25th. The business services provider reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.63. FTI Consulting had a net margin of 8.37% and a return on equity of 13.13%. The company had revenue of $551.27 million during the quarter, compared to analyst estimates of $517.69 million. During the same period last year, the business earned $1.04 earnings per share. FTI Consulting’s revenue was up 10.7% compared to the same quarter last year. Analysts anticipate that FTI Consulting will post 4.39 EPS for the current fiscal year.

In related news, Director Gerard E. Holthaus sold 8,884 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $86.82, for a total value of $771,308.88. Following the sale, the director now directly owns 77,759 shares of the company’s stock, valued at $6,751,036.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Holly Paul sold 9,574 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $84.41, for a total transaction of $808,141.34. Following the completion of the sale, the insider now directly owns 25,792 shares in the company, valued at $2,177,102.72. The disclosure for this sale can be found here. Insiders sold 28,458 shares of company stock valued at $2,446,950 over the last 90 days. 2.19% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in FCN. Carroll Financial Associates Inc. purchased a new stake in FTI Consulting in the second quarter valued at approximately $51,000. Marshall Wace North America L.P. raised its stake in FTI Consulting by 27.0% in the first quarter. Marshall Wace North America L.P. now owns 1,323 shares of the business services provider’s stock valued at $101,000 after purchasing an additional 281 shares in the last quarter. Bank of Montreal Can raised its stake in FTI Consulting by 6.3% in the first quarter. Bank of Montreal Can now owns 2,058 shares of the business services provider’s stock valued at $159,000 after purchasing an additional 122 shares in the last quarter. Magnus Financial Group LLC purchased a new stake in FTI Consulting in the fourth quarter valued at approximately $207,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in FTI Consulting in the first quarter valued at approximately $253,000. 96.76% of the stock is currently owned by institutional investors and hedge funds.

FTI Consulting Company Profile

FTI Consulting, Inc provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company's Corporate Finance & Restructuring segment provides turnaround and restructuring, business transformation, interim management, valuation and financial advisory, transaction, dispute advisory, and tax services, as well as mergers and acquisitions (M&A), and M&A integration services.

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