FTI Consulting (NYSE:FCN) to Repurchase $500.00 million in Shares

Key Points

• FTI Consulting's Board of Directors has initiated a $500 million share repurchase plan, allowing the company to buy up to 9.9% of its stock through open market purchases, indicating confidence in its undervalued shares.
• The company reported earnings of $2.60 per share for its latest quarter, exceeding analyst expectations of $1.93, and its revenue also surpassed forecasts at $956.17 million.
• Currently, FTI Consulting stock has a consensus rating of "Hold" with an average target price of $169.00, suggesting investors remain cautious about potential gains.

FTI Consulting (NYSE:FCN - Get Free Report) announced that its Board of Directors has initiated a share repurchase plan on Tuesday, October 21st, RTT News reports. The company plans to repurchase $500.00 million in shares. This repurchase authorization permits the business services provider to buy up to 9.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its shares are undervalued.

FTI Consulting Stock Down 1.2%

FTI Consulting stock traded down $1.86 during mid-day trading on Thursday, reaching $153.93. 1,402,768 shares of the company were exchanged, compared to its average volume of 372,968. The business has a fifty day moving average of $162.62 and a 200 day moving average of $163.93. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.11 and a current ratio of 2.11. The firm has a market cap of $4.98 billion, a P/E ratio of 21.68 and a beta of 0.16. FTI Consulting has a 12-month low of $149.31 and a 12-month high of $213.07.

FTI Consulting (NYSE:FCN - Get Free Report) last issued its quarterly earnings results on Thursday, October 23rd. The business services provider reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.93 by $0.67. The business had revenue of $956.17 million for the quarter, compared to the consensus estimate of $941.19 million. FTI Consulting had a return on equity of 12.88% and a net margin of 6.82%.The business's quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.85 earnings per share. FTI Consulting has set its FY 2025 guidance at 8.200-8.70 EPS. Research analysts anticipate that FTI Consulting will post 8.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FCN shares. Weiss Ratings reiterated a "hold (c-)" rating on shares of FTI Consulting in a report on Wednesday, October 8th. Truist Financial set a $165.00 target price on FTI Consulting in a report on Thursday. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $169.00.

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.

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