Focus Financial Partners (FOCS) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Focus Financial Partners (NASDAQ:FOCS) posted its earnings results on Thursday. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06, MarketWatch Earnings reports. Focus Financial Partners had a negative net margin of 4.34% and a positive return on equity of 69.46%. The firm had revenue of $259.90 million during the quarter, compared to analysts’ expectations of $258.97 million. During the same period in the previous year, the business posted $0.35 EPS. The business’s revenue was up 32.5% compared to the same quarter last year.

NASDAQ:FOCS opened at $34.08 on Friday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 1.03. The firm has a market cap of $2.59 billion and a price-to-earnings ratio of 34.42. Focus Financial Partners has a fifty-two week low of $22.61 and a fifty-two week high of $49.51.

FOCS has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Focus Financial Partners from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Friday, March 1st. SunTrust Banks upped their price objective on shares of Focus Financial Partners to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, March 5th. Bank of America set a $37.00 price objective on shares of Focus Financial Partners and gave the stock a “hold” rating in a research report on Tuesday, April 9th. BMO Capital Markets upped their price objective on shares of Focus Financial Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, February 25th. Finally, Oppenheimer initiated coverage on shares of Focus Financial Partners in a research report on Monday, April 8th. They set an “outperform” rating and a $48.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $42.83.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. raised its position in Focus Financial Partners by 22.5% during the first quarter. BlackRock Inc. now owns 1,616,790 shares of the company’s stock worth $57,623,000 after acquiring an additional 296,604 shares during the period. California State Teachers Retirement System raised its position in Focus Financial Partners by 31.3% during the first quarter. California State Teachers Retirement System now owns 40,389 shares of the company’s stock worth $1,439,000 after acquiring an additional 9,630 shares during the period. New York State Common Retirement Fund raised its position in Focus Financial Partners by 51.5% during the first quarter. New York State Common Retirement Fund now owns 48,687 shares of the company’s stock worth $1,735,000 after acquiring an additional 16,560 shares during the period. LLBH Private Wealth Management LLC acquired a new position in Focus Financial Partners during the first quarter worth $327,000. Finally, TrinityPoint Wealth LLC acquired a new position in Focus Financial Partners during the first quarter worth $203,000. Institutional investors own 75.75% of the company’s stock.

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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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