The Goldman Sachs Group Issues Pessimistic Forecast for FTI Consulting (NYSE:FCN) Stock Price

FTI Consulting (NYSE:FCN) had its price objective cut by analysts at The Goldman Sachs Group from $194.00 to $173.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 7.06% from the stock’s previous close.

Several other equities analysts have also recently weighed in on FCN. StockNews.com upgraded FTI Consulting from a “hold” rating to a “buy” rating in a report on Saturday, November 2nd. Truist Financial dropped their target price on FTI Consulting from $275.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday.

FTI Consulting Stock Performance

FCN traded down $1.40 during midday trading on Friday, reaching $161.59. 256,603 shares of the company were exchanged, compared to its average volume of 223,308. FTI Consulting has a one year low of $161.24 and a one year high of $243.60. The stock has a market capitalization of $5.81 billion, a P/E ratio of 18.61 and a beta of 0.15. The stock’s 50-day simple moving average is $192.68 and its 200 day simple moving average is $207.13.

FTI Consulting (NYSE:FCN) last released its quarterly earnings data on Thursday, February 20th. The business services provider reported $1.56 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.17). FTI Consulting had a net margin of 8.37% and a return on equity of 14.79%. The business had revenue of $894.92 million for the quarter, compared to the consensus estimate of $913.70 million. On average, research analysts anticipate that FTI Consulting will post 8.1 earnings per share for the current year.

Institutional Investors Weigh In On FTI Consulting

Hedge funds and other institutional investors have recently bought and sold shares of the company. Prospera Private Wealth LLC acquired a new stake in FTI Consulting in the 3rd quarter valued at approximately $34,000. Wilmington Savings Fund Society FSB acquired a new position in shares of FTI Consulting during the 3rd quarter worth approximately $35,000. GeoWealth Management LLC increased its position in shares of FTI Consulting by 46.0% during the 4th quarter. GeoWealth Management LLC now owns 181 shares of the business services provider’s stock worth $35,000 after purchasing an additional 57 shares during the last quarter. Quarry LP increased its position in shares of FTI Consulting by 337.8% during the 3rd quarter. Quarry LP now owns 162 shares of the business services provider’s stock worth $37,000 after purchasing an additional 125 shares during the last quarter. Finally, True Wealth Design LLC acquired a new position in shares of FTI Consulting during the 3rd quarter worth approximately $38,000. Institutional investors and hedge funds own 99.36% of the company’s stock.

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.