Filed under: Investing
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of business advisory firm FTI Consulting, jumped as much as 11% today after increasing estimates.
So what: Management said that it now expects second quarter revenue to be between $445 million and $450 million, above its previous estimate of $430 million-$445 million. On the bottom line, it said adjusted earnings per share for the quarter should be $0.49-$0.55, higher than a previous $0.32-$0.42 estimate.
Now what: The improvement has been sharp because the last estimate was given in May. Management also said that full-year results will be higher than expected, predicting $1.55-$1.70 per share in earnings, higher than Wall Street's current $1.54 estimate. I think that the company is in a great position long term and that 2016 results should provide no less than $2.50 per share in earnings. Given the pullback since the initial pop, shares still have good value for investors today.
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The article Why Shares of FTI Consulting, Inc. Popped Today originally appeared on Fool.com.
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