Equities research analysts predict that Focus Financial Partners Inc (NASDAQ:FOCS) will announce $305.86 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Focus Financial Partners’ earnings. The lowest sales estimate is $298.00 million and the highest is $319.40 million. Focus Financial Partners reported sales of $235.70 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 29.8%. The company is expected to announce its next quarterly earnings report on Monday, November 11th.
According to Zacks, analysts expect that Focus Financial Partners will report full year sales of $1.18 billion for the current financial year, with estimates ranging from $1.16 billion to $1.20 billion. For the next financial year, analysts forecast that the business will post sales of $1.45 billion, with estimates ranging from $1.41 billion to $1.50 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Focus Financial Partners.
Focus Financial Partners (NASDAQ:FOCS) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.06. The firm had revenue of $301.55 million for the quarter, compared to analysts’ expectations of $292.29 million. Focus Financial Partners had a positive return on equity of 13.21% and a negative net margin of 2.10%. The company’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.40 EPS.
FOCS has been the topic of several recent research reports. Bank of America lowered their price objective on Focus Financial Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday. Zacks Investment Research cut Focus Financial Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods upgraded Focus Financial Partners from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $35.00 to $35.50 in a research report on Friday, July 12th. Finally, SunTrust Banks lowered their price objective on Focus Financial Partners and set a “hold” rating on the stock in a research report on Thursday, June 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $39.07.
FOCS stock traded down $0.08 during trading hours on Thursday, hitting $24.12. 469,464 shares of the stock were exchanged, compared to its average volume of 167,216. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.73 and a quick ratio of 2.73. The firm has a market cap of $1.68 billion and a price-to-earnings ratio of 24.36. The firm has a 50-day moving average price of $27.75. Focus Financial Partners has a 12 month low of $22.61 and a 12 month high of $49.51.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of Focus Financial Partners by 29.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,127,067 shares of the company’s stock worth $58,495,000 after purchasing an additional 483,780 shares in the last quarter. TimesSquare Capital Management LLC boosted its stake in Focus Financial Partners by 53.1% in the second quarter. TimesSquare Capital Management LLC now owns 1,930,645 shares of the company’s stock valued at $52,726,000 after buying an additional 669,645 shares in the last quarter. FMR LLC boosted its stake in Focus Financial Partners by 29.6% in the first quarter. FMR LLC now owns 1,816,700 shares of the company’s stock valued at $64,747,000 after buying an additional 414,500 shares in the last quarter. Fairview Capital Investment Management LLC boosted its stake in Focus Financial Partners by 0.9% in the first quarter. Fairview Capital Investment Management LLC now owns 1,757,769 shares of the company’s stock valued at $62,646,000 after buying an additional 16,500 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Focus Financial Partners by 6.1% in the fourth quarter. BlackRock Inc. now owns 1,320,186 shares of the company’s stock valued at $34,763,000 after buying an additional 76,469 shares in the last quarter. 79.75% of the stock is currently owned by institutional investors.
About Focus Financial Partners
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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