Focus Financial Partners (FOCS) Reaches New 12-Month Low on Disappointing Earnings
Focus Financial Partners Inc (NASDAQ:FOCS) shares hit a new 52-week low on Tuesday after the company announced weaker than expected quarterly earnings. The company traded as low as $30.00 and last traded at $33.00, with a volume of 13414 shares. The stock had previously closed at $36.33.
The company reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. The firm had revenue of $235.70 million for the quarter, compared to analysts’ expectations of $240.01 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. The company’s quarterly revenue was up 30.8% on a year-over-year basis.
FOCS has been the subject of several research analyst reports. Bank of America initiated coverage on Focus Financial Partners in a research report on Monday, August 20th. They set a “neutral” rating and a $42.00 price target for the company. Goldman Sachs Group initiated coverage on Focus Financial Partners in a research report on Monday, August 20th. They set a “neutral” rating and a $42.00 price target for the company. BMO Capital Markets restated a “buy” rating and set a $49.00 price target on shares of Focus Financial Partners in a research report on Friday, August 24th. William Blair initiated coverage on Focus Financial Partners in a research report on Monday, August 20th. They set a “market perform” rating for the company. Finally, Zacks Investment Research upgraded Focus Financial Partners from a “hold” rating to a “strong-buy” rating and set a $48.00 price target for the company in a research report on Monday, October 22nd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $47.25.
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Focus Financial Partners Company Profile (NASDAQ:FOCS)
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.
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