Focus Financial Partners (NASDAQ:FOCS) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. The business had revenue of $316.60 million for the quarter, compared to analyst estimates of $308.55 million. Focus Financial Partners had a positive return on equity of 16.83% and a negative net margin of 0.93%. Focus Financial Partners’s revenue was up 34.3% compared to the same quarter last year. During the same period last year, the firm posted $0.46 earnings per share.
Several other research firms also recently commented on FOCS. William Blair reiterated a “market perform” rating on shares of Focus Financial Partners in a research report on Thursday, November 7th. Zacks Investment Research upgraded Focus Financial Partners from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Wednesday, November 13th. Finally, BMO Capital Markets increased their target price on Focus Financial Partners from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $35.93.
Focus Financial Partners stock opened at $29.64 on Thursday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.79. The company has a market capitalization of $2.06 billion, a PE ratio of 29.94, a P/E/G ratio of 0.67 and a beta of 2.17. Focus Financial Partners has a 12 month low of $19.05 and a 12 month high of $40.36. The stock has a 50-day moving average price of $27.80 and a two-hundred day moving average price of $25.34.
Institutional investors have recently bought and sold shares of the business. TimesSquare Capital Management LLC raised its position in shares of Focus Financial Partners by 53.1% during the second quarter. TimesSquare Capital Management LLC now owns 1,930,645 shares of the company’s stock worth $52,726,000 after acquiring an additional 669,645 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Focus Financial Partners by 29.4% during the second quarter. JPMorgan Chase & Co. now owns 2,127,067 shares of the company’s stock worth $58,495,000 after acquiring an additional 483,780 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Focus Financial Partners by 14.8% during the second quarter. Vanguard Group Inc. now owns 2,715,098 shares of the company’s stock worth $74,149,000 after acquiring an additional 350,511 shares during the last quarter. Invesco Ltd. raised its position in shares of Focus Financial Partners by 3,557.2% during the second quarter. Invesco Ltd. now owns 287,710 shares of the company’s stock worth $7,858,000 after acquiring an additional 279,843 shares during the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC raised its position in shares of Focus Financial Partners by 119.6% during the third quarter. Philadelphia Financial Management of San Francisco LLC now owns 494,960 shares of the company’s stock worth $11,780,000 after acquiring an additional 269,553 shares during the last quarter. Hedge funds and other institutional investors own 81.62% of the company’s stock.
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.
