FTI Consulting (NYSE:FCN) Updates FY24 Earnings Guidance

FTI Consulting (NYSE:FCN) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $8.10-8.60 for the period, compared to the consensus earnings per share 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FCN. William Blair reissued an outperform rating on shares of FTI Consulting in a research report on Tuesday, June 25th. StockNews.com downgraded shares of FTI Consulting from a buy rating to a hold rating in a research report on Friday, April 26th.

FTI Consulting Stock Performance

Shares of FCN stock opened at $230.77 on Thursday. The stock has a market capitalization of $8.24 billion, a P/E ratio of 26.83 and a beta of 0.09. 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’s 50 day moving average is $217.24 and its 200 day moving average is $209.38. FTI Consulting has a 12 month low of $171.81 and a 12 month high of $232.15.

FTI Consulting (NYSE:FCN) last announced its quarterly earnings results on Thursday, April 25th. The business services provider reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.47. The company had revenue of $928.60 million for the quarter, compared to analysts’ expectations of $901.77 million. FTI Consulting had a net margin of 8.51% and a return on equity of 15.97%. FTI Consulting’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.34 EPS. On average, sell-side analysts anticipate that FTI Consulting will post 8.3 earnings per share for the current year.

Insiders Place Their Bets

In other FTI Consulting news, CFO Ajay Sabherwal sold 596 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $226.13, for a total value of $134,773.48. Following the sale, the chief financial officer now directly owns 13,455 shares in the company, valued at approximately $3,042,579.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other FTI Consulting news, CFO Ajay Sabherwal sold 596 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $226.13, for a total value of $134,773.48. Following the sale, the chief financial officer now directly owns 13,455 shares in the company, valued at approximately $3,042,579.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Alderman Linton sold 16,552 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 53,416 shares in the company, valued at $11,579,520.48. The disclosure for this sale can be found here. Insiders have sold 51,088 shares of company stock worth $11,163,977 in the last three months. 2.51% of the stock is currently owned by corporate 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.