Focus Financial Partners (NASDAQ:FOCS) Announces Earnings Results, Beats Estimates By $0.06 EPS

Focus Financial Partners (NASDAQ:FOCS) issued its quarterly earnings results on Thursday. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.06, Briefing.com reports. Focus Financial Partners had a positive return on equity of 13.21% and a negative net margin of 2.10%. The firm had revenue of $301.55 million during the quarter, compared to the consensus estimate of $292.29 million. During the same quarter in the prior year, the business posted $0.40 earnings per share. Focus Financial Partners’s revenue for the quarter was up 30.3% on a year-over-year basis.

NASDAQ FOCS traded down $0.08 on Friday, hitting $24.12. 469,464 shares of the stock traded hands, compared to its average volume of 167,216. The company has a 50-day moving average price of $27.75. Focus Financial Partners has a twelve month low of $22.61 and a twelve month high of $49.51. The stock has a market capitalization of $1.68 billion and a P/E ratio of 24.36. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.73 and a quick ratio of 2.73.

Several analysts have issued reports on FOCS shares. Bank of America cut their price objective on Focus Financial Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday. Zacks Investment Research cut Focus Financial Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. SunTrust Banks cut their price objective on Focus Financial Partners and set a “hold” rating on the stock in a research note on Thursday, June 27th. Finally, Keefe, Bruyette & Woods upgraded Focus Financial Partners from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $35.00 to $35.50 in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $39.07.



A number of hedge funds and other institutional investors have recently made changes to their positions in FOCS. BlackRock Inc. lifted its stake in shares of Focus Financial Partners by 6.1% in the 4th quarter. BlackRock Inc. now owns 1,320,186 shares of the company’s stock worth $34,763,000 after purchasing an additional 76,469 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Focus Financial Partners by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 77,071 shares of the company’s stock worth $2,029,000 after purchasing an additional 2,010 shares during the period. Northern Trust Corp lifted its stake in shares of Focus Financial Partners by 0.5% in the 4th quarter. Northern Trust Corp now owns 233,703 shares of the company’s stock worth $6,154,000 after purchasing an additional 1,181 shares during the period. Bank of America Corp DE lifted its stake in shares of Focus Financial Partners by 93.9% in the 4th quarter. Bank of America Corp DE now owns 33,587 shares of the company’s stock worth $885,000 after purchasing an additional 16,267 shares during the period. Finally, Squarepoint Ops LLC bought a new position in shares of Focus Financial Partners in the 4th quarter worth approximately $273,000. Hedge funds and other institutional investors own 79.75% of the company’s stock.

Focus Financial Partners Company Profile

Focus Financial Partners Inc provides wealth management services to primarily high net worth individuals and families. Its wealth management services include investment advice, financial and tax planning, consulting, tax return preparation, family office services, and other services. The company also offers recordkeeping and administration services.

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Earnings History for Focus Financial Partners (NASDAQ:FOCS)

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