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Strength Seen in Focus Financial Partners Inc. (FOCS): Can Its 8.3% Jump Turn into More Strength?

Zacks Equity Research
·2 min read

Focus Financial Partners Inc. (FOCS) shares rallied 8.3% in the last trading session to close at $36.91. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 9.8% loss over the past four weeks.

Shares of Focus Financial Partners rallied for the fourth consecutive day. As the markets continue to remain extremely volatile and recessionary fears weigh, investors are now turning in to for advice to investment managers for maximizing profits. Thus, asset managers like FOCS are likely to witness a rise in asset inflows. This possibly led to the optimistic stance by the investors, which drove the company stock higher.

This company is expected to post quarterly earnings of $1.12 per share in its upcoming report, which represents a year-over-year change of +14.3%. Revenues are expected to be $526.75 million, up 23.8% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

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For Focus Financial Partners Inc., the consensus EPS estimate for the quarter has been revised 0.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on FOCS going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Focus Financial Partners Inc. is a member of the Zacks Financial - Investment Management industry. One other stock in the same industry, KKR & Co. Inc. (KKR), finished the last trading session 4.7% higher at $48.57. KKR has returned -14.8% over the past month.

KKR & Co. Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.95. Compared to the company's year-ago EPS, this represents a change of -9.5%. KKR & Co. Inc. currently boasts a Zacks Rank of #3 (Hold).


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Zacks Investment Research