FTI Consulting (NYSE:FCN) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• FTI Consulting shares experienced an unusually-high trading volume of about 377,786 shares, marking a 6% decrease from the previous day's volume.
• The company's latest earnings report indicated an EPS of $2.13, surpassing analyst expectations of $1.87, but a slight revenue decline compared to the same quarter last year.
• FTI Consulting's board has initiated a stock buyback program allowing for the repurchase of $400 million in shares, which is typically a sign that the company believes its stock is undervalued.

FTI Consulting, Inc. (NYSE:FCN - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 377,786 shares traded hands during mid-day trading, a decline of 6% from the previous session's volume of 400,793 shares.The stock last traded at $166.48 and had previously closed at $165.52.

Analyst Upgrades and Downgrades

Separately, William Blair reaffirmed an "outperform" rating on shares of FTI Consulting in a research report on Friday, April 25th.

FTI Consulting Price Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 2.11 and a quick ratio of 2.11. The company has a 50 day moving average price of $164.27 and a 200 day moving average price of $168.79. The firm has a market cap of $5.45 billion, a PE ratio of 23.72 and a beta of 0.18.

FTI Consulting (NYSE:FCN - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The business services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $1.87 by $0.26. FTI Consulting had a return on equity of 12.88% and a net margin of 6.82%. The business had revenue of $943.66 million during the quarter, compared to analysts' expectations of $928.38 million. During the same quarter in the prior year, the business earned $2.34 earnings per share. The company's quarterly revenue was down .6% compared to the same quarter last year. Sell-side analysts expect that FTI Consulting, Inc. will post 8.55 EPS for the current fiscal year.

FTI Consulting declared that its board has initiated a stock buyback program on Thursday, April 24th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the business services provider to buy up to 6.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FCN. Principal Financial Group Inc. boosted its stake in shares of FTI Consulting by 0.4% during the first quarter. Principal Financial Group Inc. now owns 81,271 shares of the business services provider's stock valued at $13,335,000 after acquiring an additional 302 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of FTI Consulting in the 1st quarter valued at about $30,000. Black Diamond Financial LLC purchased a new stake in shares of FTI Consulting during the 1st quarter valued at about $328,000. GAMMA Investing LLC raised its holdings in shares of FTI Consulting by 7,936.5% during the 1st quarter. GAMMA Investing LLC now owns 39,379 shares of the business services provider's stock valued at $6,461,000 after buying an additional 38,889 shares during the period. Finally, Two Sigma Investments LP purchased a new stake in shares of FTI Consulting during the 4th quarter valued at about $442,000. Hedge funds and other institutional investors own 99.36% of the company's stock.

FTI Consulting Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.