Why FXCM (FXCM) Stock Is Down Today

NEW YORK (TheStreet) -- Shares of FXCM Inc. (FXCM) are lower -4.14% to $13.44 on Thursday after the company reported net income declined for the 2014 first quarter to $2.1 million, or 5 cents per diluted share, compared to $6.9 million, or 23 cents per diluted share from the same period last year.

The online provider of foreign exchange trading said adjusted pro forma EBITDA was $24.6 million for the most recent quarter, a 44% drop from $43.8 million reported for the 2013 first quarter.

FXCM's adjusted pro forma net income of $5.2 million, or 7 cents per diluted share, was down 70% from the 17.5 million, or 23 cents per diluted share for the year ago quarter.

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Revenue for the most recent quarter declined 6% to $115.0 million versus $122.9 million from the 2013 first quarter.

TheStreet Ratings team rates FXCM INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate FXCM INC (FXCM) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its notable return on equity and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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