FTI Consulting Tanks as Full Year Earnings Outlook Revised Down

FTI Consulting Inc (FCN) has shed a quarter of its market value in morning trade after the business advisory group said it expects a sharp fall in second quarter earnings. The company also revised down its full year guidance. FTI projects second quarter earnings to reach between 50 cents and 55 cents per share, while analysts polled by Reuters had expected the figure to reach 75 cents a share. For the full year, the company expects earnings to reach between $2.50 and $2.80 a share, down from $3.00 and $3.25 it projected in February. The company was also downgraded to "market perform" from "outperform" by Oppenheimer and Co as well as William Blair & Co. The Baltimore-based company opened at $36.63, and have traded between $31.53 and $56.41 over the past 12 months.

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