Focus Financial Partners (NASDAQ:FOCS) Announces Earnings Results

Focus Financial Partners (NASDAQ:FOCS) posted its earnings results on Thursday. The company reported $0.55 earnings per share 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 company had revenue of $301.55 million for the quarter, compared to the consensus estimate of $292.29 million. During the same quarter in the prior year, the company earned $0.40 earnings per share. Focus Financial Partners’s revenue was up 30.3% on a year-over-year basis.

Shares of NASDAQ FOCS traded down $0.08 during trading on Friday, hitting $24.12. The company had a trading volume of 469,464 shares, compared to its average volume of 167,216. The company has a 50 day simple moving average of $27.75. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 1.56. Focus Financial Partners has a 12 month low of $22.61 and a 12 month high of $49.51. The company has a market capitalization of $1.68 billion and a price-to-earnings ratio of 24.36.

A number of research firms have weighed in on FOCS. Bank of America lowered their target price on Focus Financial Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday. Keefe, Bruyette & Woods raised Focus Financial Partners from a “market perform” rating to an “outperform” rating and increased their target price for the company from $35.00 to $35.50 in a report on Friday, July 12th. SunTrust Banks decreased their price objective on Focus Financial Partners and set a “hold” rating on the stock in a research note on Thursday, June 27th. Finally, Zacks Investment Research downgraded Focus Financial Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $39.07.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hoylecohen LLC bought a new position in shares of Focus Financial Partners in the first quarter worth about $2,942,000. Carroll Financial Associates Inc. bought a new position in shares of Focus Financial Partners in the second quarter worth about $947,000. Merriman Wealth Management LLC bought a new position in shares of Focus Financial Partners in the first quarter worth about $896,000. Winslow Asset Management Inc. raised its stake in shares of Focus Financial Partners by 104.2% in the first quarter. Winslow Asset Management Inc. now owns 205,618 shares of the company’s stock worth $7,328,000 after buying an additional 104,935 shares during the period. Finally, California Public Employees Retirement System bought a new position in shares of Focus Financial Partners in the first quarter worth about $3,208,000. 79.75% of the stock is currently owned by hedge funds and other 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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Earnings History for Focus Financial Partners (NASDAQ:FOCS)

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