FTI Consulting (NYSE:FCN) Updates FY 2024 Earnings Guidance

FTI Consulting (NYSE:FCN) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 8.100-8.600 for the period, compared to the consensus earnings per share estimate of 8.450. The company issued revenue guidance of $3.7 billion-$3.8 billion, compared to the consensus revenue estimate of $3.8 billion. FTI Consulting also updated its FY24 guidance to $8.10-8.60 EPS.

FTI Consulting Price Performance

Shares of FCN opened at $225.42 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.20 and a quick ratio of 2.46. FTI Consulting has a 1-year low of $171.81 and a 1-year high of $243.60. The stock has a market cap of $8.05 billion, a PE ratio of 26.21 and a beta of 0.09. The firm has a fifty day moving average price of $217.49 and a 200 day moving average price of $209.85.

FTI Consulting (NYSE:FCN) last announced its earnings results on Thursday, July 25th. The business services provider reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.32. FTI Consulting had a return on equity of 16.34% and a net margin of 8.90%. The firm had revenue of $949.16 million during the quarter, compared to analysts’ expectations of $938.67 million. During the same period in the prior year, the firm earned $1.75 EPS. The business’s revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts anticipate that FTI Consulting will post 8.48 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FCN shares. William Blair reissued an outperform rating on shares of FTI Consulting in a research report on Tuesday, June 25th. StockNews.com raised FTI Consulting from a hold rating to a buy rating in a report on Thursday.

Insider Transactions at FTI Consulting

In related news, CEO Steven Henry Gunby sold 28,440 shares of FTI Consulting stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $218.61, for a total value of $6,217,268.40. Following the transaction, the chief executive officer now directly owns 287,184 shares in the company, valued at approximately $62,781,294.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Paul Alderman Linton sold 16,552 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $216.78, for a total value of $3,588,142.56. Following the completion of the sale, the insider now directly owns 53,416 shares of the company’s stock, valued at approximately $11,579,520.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven Henry Gunby sold 28,440 shares of FTI Consulting stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $218.61, for a total value of $6,217,268.40. Following the completion of the sale, the chief executive officer now owns 287,184 shares in the company, valued at $62,781,294.24. The disclosure for this sale can be found here. Insiders sold 51,088 shares of company stock worth $11,163,977 over the last 90 days. 2.51% of the stock is currently 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.