Business advisory firm FTI Consulting (NYSE: FCN) will be reporting results this Thursday before market open. Here’s what you need to know.
FTI Consulting met analysts’ revenue expectations last quarter, reporting revenues of $993.5 million, up 5.3% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates and full-year revenue guidance meeting analysts’ expectations.
Is FTI Consulting a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting FTI Consulting’s revenue to grow 5.4% year on year, improving from the 3.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. FTI Consulting has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at FTI Consulting’s peers in the professional services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Concentrix’s revenues decreased 1.2% year on year, missing analysts’ expectations by 1%, and CBIZ reported revenues up 1.2%, falling short of estimates by 2.7%. Concentrix’s stock price was unchanged after the resultsand CBIZ’s price followed a similar reaction.
Read our full analysis of Concentrix’s results here and CBIZ’s results here.
There has been positive sentiment among investors in the professional services segment, with share prices up 3.7% on average over the last month. FTI Consulting is up 20% during the same time and is heading into earnings with an average analyst price target of $154.50 (compared to the current share price of $158.79).
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