$242.49 Million in Sales Expected for Focus Financial Partners Inc (FOCS) This Quarter

Wall Street analysts expect Focus Financial Partners Inc (NASDAQ:FOCS) to report $242.49 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Focus Financial Partners’ earnings, with the highest sales estimate coming in at $243.90 million and the lowest estimate coming in at $241.57 million. The business is scheduled to report its next quarterly earnings results on Monday, February 11th.

On average, analysts expect that Focus Financial Partners will report full-year sales of $905.75 million for the current fiscal year, with estimates ranging from $904.94 million to $907.30 million. For the next fiscal year, analysts forecast that the business will post sales of $1.17 billion, with estimates ranging from $1.14 billion to $1.20 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Focus Financial Partners.

Focus Financial Partners (NASDAQ:FOCS) last issued its quarterly earnings data on Tuesday, November 13th. The company reported $0.46 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.46. Focus Financial Partners had a negative net margin of 4.64% and a negative return on equity of 4.59%. The company had revenue of $235.70 million during the quarter, compared to the consensus estimate of $240.01 million. During the same quarter in the prior year, the firm earned $0.33 earnings per share. The firm’s revenue was up 30.8% compared to the same quarter last year.

FOCS has been the subject of several research reports. SunTrust Banks initiated coverage on shares of Focus Financial Partners in a research report on Thursday, January 17th. They set a “hold” rating and a $30.00 price objective for the company. Zacks Investment Research downgraded shares of Focus Financial Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 30th. Finally, BMO Capital Markets lowered their price objective on shares of Focus Financial Partners to $44.00 and set an “outperform” rating for the company in a research report on Thursday, November 15th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $41.20.

Shares of FOCS stock traded up $0.59 during trading hours on Wednesday, hitting $28.78. 71,463 shares of the company were exchanged, compared to its average volume of 123,849. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.56 and a quick ratio of 2.56. Focus Financial Partners has a 52 week low of $22.61 and a 52 week high of $49.51.

Several hedge funds and other institutional investors have recently bought and sold shares of FOCS. Bank of New York Mellon Corp grew its holdings in shares of Focus Financial Partners by 2.7% in the fourth quarter. Bank of New York Mellon Corp now owns 77,071 shares of the company’s stock worth $2,029,000 after purchasing an additional 2,010 shares during the last quarter. BlackRock Inc. lifted its position in Focus Financial Partners by 6.1% during the fourth quarter. BlackRock Inc. now owns 1,320,186 shares of the company’s stock valued at $34,763,000 after buying an additional 76,469 shares during the period. New York State Common Retirement Fund raised its position in shares of Focus Financial Partners by 188.7% in the 4th quarter. New York State Common Retirement Fund now owns 32,127 shares of the company’s stock worth $846,000 after purchasing an additional 21,000 shares during the last quarter. Synovus Financial Corp purchased a new position in shares of Focus Financial Partners in the 4th quarter worth about $787,000. Finally, Jennison Associates LLC raised its position in shares of Focus Financial Partners by 0.4% in the 4th quarter. Jennison Associates LLC now owns 362,325 shares of the company’s stock worth $9,540,000 after purchasing an additional 1,457 shares during the last quarter. Institutional investors own 80.69% 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. The company's wealth management services include investment advice, financial and tax planning, consulting, tax return preparation, family office services, and other services. It also offers recordkeeping and administration services.

Further Reading: Price-Sales Ratio

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