FTI Consulting (FCN) shares soared 4.6% in the last trading session to close at $195.24. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock’s 11.4% gain over the past four weeks.
The stock is benefiting from the company’s strong management team and global network.
This business advisory firm is expected to post quarterly earnings of $1.67 per share in its upcoming report, which represents a year-over-year change of +0.6%. Revenues are expected to be $784.28 million, up 8.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For FTI Consulting, the consensus EPS estimate for the quarter has been revised 0.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on FCN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
FTI Consulting is a member of the Zacks Consulting Services industry. One other stock in the same industry, Accenture (ACN), finished the last trading session 2.6% lower at $252.95. ACN has returned -8.9% over the past month.
For Accenture
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