Oppenheimer Analysts Cut Earnings Estimates for Focus Financial Partners Inc. (NASDAQ:FOCS)

Focus Financial Partners Inc. (NASDAQ:FOCS) – Investment analysts at Oppenheimer dropped their Q1 2021 earnings per share estimates for Focus Financial Partners in a research report issued to clients and investors on Sunday, April 11th. Oppenheimer analyst O. Lau now forecasts that the company will earn $0.80 per share for the quarter, down from their prior forecast of $0.81. Oppenheimer also issued estimates for Focus Financial Partners’ Q3 2021 earnings at $0.86 EPS, FY2021 earnings at $3.41 EPS and FY2022 earnings at $3.76 EPS.

Other research analysts have also issued research reports about the stock. Raymond James lifted their price objective on shares of Focus Financial Partners from $44.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, January 11th. Keefe, Bruyette & Woods raised their target price on shares of Focus Financial Partners from $54.00 to $61.00 and gave the stock an “outperform” rating in a report on Friday, February 19th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Focus Financial Partners from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Friday, March 26th. The Goldman Sachs Group lifted their price objective on shares of Focus Financial Partners from $52.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, February 25th. Finally, Credit Suisse Group lifted their price objective on shares of Focus Financial Partners from $53.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 25th. Nine equities research analysts have rated the stock with a buy rating, Focus Financial Partners currently has an average rating of “Buy” and a consensus target price of $48.56.

Focus Financial Partners stock opened at $44.02 on Wednesday. The company’s 50 day simple moving average is $45.16 and its 200 day simple moving average is $43.97. Focus Financial Partners has a fifty-two week low of $18.52 and a fifty-two week high of $56.56. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 183.42, a PEG ratio of 0.94 and a beta of 1.29. The company has a debt-to-equity ratio of 1.50, a current ratio of 2.05 and a quick ratio of 2.05.

Focus Financial Partners (NASDAQ:FOCS) last issued its earnings results on Thursday, February 18th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.02. The company had revenue of $379.67 million for the quarter, compared to analyst estimates of $349.30 million. Focus Financial Partners had a net margin of 0.94% and a return on equity of 24.45%.

In other Focus Financial Partners news, Director Stone Point Capital Llc sold 683,226 shares of Focus Financial Partners stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $46.20, for a total transaction of $31,565,041.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Kkr Group Partnership L.P. sold 2,075,424 shares of the business’s stock in a transaction dated Tuesday, March 2nd. The shares were sold at an average price of $46.20, for a total transaction of $95,884,588.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,062,791 shares of company stock valued at $141,500,944. Company insiders own 0.12% of the company’s stock.

Several institutional investors have recently made changes to their positions in FOCS. Endurance Wealth Management Inc. bought a new stake in shares of Focus Financial Partners in the fourth quarter valued at about $44,000. Voloridge Investment Management LLC bought a new stake in shares of Focus Financial Partners in the third quarter valued at about $201,000. Golden Green Inc. bought a new stake in shares of Focus Financial Partners in the first quarter valued at about $205,000. Amalgamated Bank bought a new stake in shares of Focus Financial Partners in the fourth quarter valued at about $214,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in shares of Focus Financial Partners in the fourth quarter valued at about $254,000. 87.88% of the stock is owned by institutional investors.

Focus Financial Partners Company Profile

Focus Financial Partners Inc provides wealth management services to primarily ultra-high and high net worth individuals, families, and business entities. Its wealth management services include investment advice, financial and tax planning, consulting, tax return preparation, family office services, and other services.

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