FTI Consulting (NYSE:FCN) to Buyback $500.00 million in Outstanding Stock

FTI Consulting (NYSE:FCN) announced that its Board of Directors has authorized a share buyback 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 purchase up to 9.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

FTI Consulting Trading Down 1.2%

NYSE:FCN opened at $153.93 on Friday. The stock has a 50-day simple moving average of $162.62 and a 200-day simple moving average of $163.93. The stock 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 1 year low of $149.31 and a 1 year high of $213.07. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.11 and a current ratio of 2.11.

FTI Consulting (NYSE:FCN) last released its quarterly earnings data on Thursday, October 23rd. The business services provider reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.67. The business had revenue of $956.17 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.85 EPS. FTI Consulting has set its FY 2025 guidance at 8.200-8.70 EPS. As a group, analysts anticipate that FTI Consulting will post 8.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on FCN shares. Truist Financial set a $165.00 price objective on FTI Consulting in a research note on Thursday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of FTI Consulting in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, FTI Consulting presently has an average rating of “Hold” and a consensus price target 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.