Zacks: Analysts Anticipate Focus Financial Partners Inc (NASDAQ:FOCS) Will Announce Quarterly Sales of $313.28 Million

Analysts expect Focus Financial Partners Inc (NASDAQ:FOCS) to announce $313.28 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Focus Financial Partners’ earnings, with the highest sales estimate coming in at $321.40 million and the lowest estimate coming in at $309.00 million. Focus Financial Partners posted sales of $235.70 million during the same quarter last year, which suggests a positive year over year growth rate of 32.9%. The business is expected to issue its next quarterly earnings report on Monday, November 11th.

On average, analysts expect that Focus Financial Partners will report full-year sales of $1.19 billion for the current financial year, with estimates ranging from $1.18 billion to $1.21 billion. For the next year, analysts anticipate that the business will report sales of $1.46 billion, with estimates ranging from $1.43 billion to $1.50 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Focus Financial Partners.

Focus Financial Partners (NASDAQ:FOCS) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.06. The firm had revenue of $301.55 million during the quarter, compared to analysts’ expectations of $292.29 million. Focus Financial Partners had a negative net margin of 2.10% and a positive return on equity of 13.21%. The firm’s quarterly revenue was up 30.3% on a year-over-year basis. During the same quarter last year, the company posted $0.40 EPS.

Several brokerages have commented on FOCS. Keefe, Bruyette & Woods raised shares of Focus Financial Partners from a “market perform” rating to an “outperform” rating and raised their price target for the company from $35.00 to $35.50 in a research report on Friday, July 12th. SunTrust Banks set a $26.00 price target on shares of Focus Financial Partners and gave the company a “hold” rating in a research report on Friday, August 9th. Bank of America decreased their price target on shares of Focus Financial Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Finally, Zacks Investment Research cut shares of Focus Financial Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Focus Financial Partners has a consensus rating of “Hold” and an average target price of $36.79.

Shares of NASDAQ:FOCS traded down $0.49 during mid-day trading on Thursday, reaching $21.41. 266,600 shares of the company were exchanged, compared to its average volume of 222,074. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.73 and a quick ratio of 2.73. The firm has a market cap of $1.58 billion and a price-to-earnings ratio of 21.63. The firm’s 50-day simple moving average is $27.21 and its 200 day simple moving average is $31.56. Focus Financial Partners has a 1 year low of $21.15 and a 1 year high of $49.51.

Institutional investors have recently added to or reduced their stakes in the company. Hoylecohen LLC purchased a new stake in shares of Focus Financial Partners during the 1st quarter worth $2,942,000. Carroll Financial Associates Inc. purchased a new stake in shares of Focus Financial Partners during the 2nd quarter worth $947,000. Merriman Wealth Management LLC purchased a new stake in shares of Focus Financial Partners during the 1st quarter worth $896,000. Winslow Asset Management Inc. lifted its position in shares of Focus Financial Partners by 104.2% during the 1st quarter. Winslow Asset Management Inc. now owns 205,618 shares of the company’s stock worth $7,328,000 after purchasing an additional 104,935 shares during the last quarter. Finally, California Public Employees Retirement System purchased a new stake in shares of Focus Financial Partners during the 1st quarter worth $3,208,000. 80.90% of the stock is owned by institutional investors and hedge funds.

Focus Financial Partners Company Profile

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 and Estimates for Focus Financial Partners (NASDAQ:FOCS)

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