According to Zacks, “Focus Financial Partners Inc. provides wealth management services. The Company offers financial planning, asset allocation, asset management and tax preparation services. Focus Financial Partners Inc. is based in New York, United States. “
Several other research analysts have also commented on the stock. BMO Capital Markets raised their price objective on shares of Focus Financial Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, February 25th. SunTrust Banks raised their price objective on shares of Focus Financial Partners to $42.00 and gave the company a “hold” rating in a research note on Tuesday, March 5th. Bank of America set a $37.00 price objective on shares of Focus Financial Partners and gave the company a “hold” rating in a research note on Tuesday, April 9th. Finally, Oppenheimer started coverage on shares of Focus Financial Partners in a research note on Monday, April 8th. They issued an “outperform” rating and a $48.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $42.83.
Shares of FOCS traded down $0.22 during trading on Thursday, reaching $32.04. 187,534 shares of the company traded hands, compared to its average volume of 210,202. Focus Financial Partners has a twelve month low of $22.61 and a twelve month high of $49.51. The stock has a market cap of $2.23 billion and a PE ratio of 32.36. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.73 and a quick ratio of 2.28.
Focus Financial Partners (NASDAQ:FOCS) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Focus Financial Partners had a negative net margin of 3.12% and a positive return on equity of 21.17%. The business had revenue of $259.90 million during the quarter, compared to analysts’ expectations of $258.97 million. During the same period last year, the business earned $0.35 earnings per share. The business’s revenue for the quarter was up 32.5% on a year-over-year basis. As a group, sell-side analysts expect that Focus Financial Partners will post 1.94 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp bought a new position in shares of Focus Financial Partners in the third quarter worth $3,563,000. JPMorgan Chase & Co. purchased a new position in Focus Financial Partners in the third quarter worth $37,151,000. Teachers Advisors LLC purchased a new position in Focus Financial Partners in the third quarter worth $1,695,000. TIAA CREF Investment Management LLC purchased a new position in Focus Financial Partners in the third quarter worth $1,802,000. Finally, Legal & General Group Plc purchased a new position in Focus Financial Partners in the third quarter worth $2,588,000. 76.86% of the stock is owned by institutional investors and hedge funds.
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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