Back to top
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Accenture PLC (ACN) - $25 value - yours FREE >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Accenture PLC (ACN) - $25 value - yours FREE >>
Image: Bigstock
FTI Consulting Offers New Stock Buyback Plan, Shares Flat
FTI Consulting, Inc. (FCN - Free Report) , a global business advisory firm, authorized a new stock repurchase program under which it is likely to repurchase up to $100 million of its outstanding shares. However, the announcement failed to have an impact on investors as share prices remained mostly flat at $42.66 as of Jun 3, 2016.
Market conditions, securities law limitations and other factors play a vital role in the company’s repurchase program. This repurchase program does not have any time limitation or deadline; management can at any time decide to stop the program without any prior notice. The company’s new program will be funded by its cash on hand and available borrowings under its senior secured revolving bank credit facility. At the end of the first quarter of 2016, the company had cash and cash equivalents of $114.5 million.
In the first quarter of 2016, the company repurchased approximately 85,100 shares for $2.9 million under its $50 million share repurchase authorization, which expired on May 5, 2016. FTI Consulting plans to continue repurchasing shares through 2016. This repurchase program is likely to help the business reduce its cost of capital and inflate important financial metrics.
Founded in 1982, FTI Consulting provides specialized consulting services across various foreign countries. The company has a team of highly qualified professionals who provide problem-solving and technology services primarily to major corporations, financial institutions and law firms.
Based out of Baltimore, MD, the company aims to expand in major markets with rapidly growing economies that hold ample scope for investments.
FTI Consulting currently sports a Zacks Rank #1 (Strong Buy). Some other stocks that look promising include Accenture plc (ACN - Free Report) , CBIZ, Inc. (CBZ - Free Report) and CEB Inc. , each carrying a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>