FTI Consulting (NYSE:FCN) Releases FY24 Earnings Guidance

FTI Consulting (NYSE:FCN) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $8.10-8.60 for the period, compared to the consensus estimate of $8.45. The company issued revenue guidance of $3.70-3.79 billion, compared to the consensus revenue estimate of $3.77 billion. FTI Consulting also updated its FY 2024 guidance to 8.100-8.600 EPS.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FCN. William Blair reiterated an outperform rating on shares of FTI Consulting in a report on Tuesday, June 25th. StockNews.com upgraded FTI Consulting from a hold rating to a buy rating in a report on Thursday.

FTI Consulting Stock Down 2.1 %

Shares of NYSE:FCN traded down $4.85 on Thursday, reaching $225.64. The company had a trading volume of 407,817 shares, compared to its average volume of 183,232. FTI Consulting has a 52-week low of $171.81 and a 52-week high of $243.60. The firm’s 50 day simple moving average is $217.37 and its 200-day simple moving average is $209.53. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $8.06 billion, a PE ratio of 26.24 and a beta of 0.09.

FTI Consulting (NYSE:FCN) last announced its earnings results on Thursday, April 25th. 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 15.97% and a net margin of 8.51%. The firm had revenue of $928.60 million for the quarter, compared to the consensus estimate of $901.77 million. During the same period in the previous year, the business earned $1.34 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, analysts expect that FTI Consulting will post 8.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul Alderman Linton sold 16,552 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $216.78, for a total transaction of $3,588,142.56. Following the transaction, the insider now directly owns 53,416 shares in the company, valued at approximately $11,579,520.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other FTI Consulting news, insider Paul Alderman Linton sold 16,552 shares of FTI Consulting stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $216.78, for a total transaction of $3,588,142.56. Following the completion of the sale, the insider now owns 53,416 shares of the company’s stock, valued at approximately $11,579,520.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Steven Henry Gunby sold 28,440 shares of FTI Consulting stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $218.61, for a total value of $6,217,268.40. Following the sale, the chief executive officer now directly owns 287,184 shares of the company’s stock, valued at approximately $62,781,294.24. The disclosure for this sale can be found here. Insiders have sold a total of 51,088 shares of company stock worth $11,163,977 in the last ninety days. 2.51% of the stock is owned by insiders.

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.