BidaskClub lowered shares of FirstCash Inc (NASDAQ:FCFS) from a strong-buy rating to a buy rating in a report issued on Monday, July 24th.
Several other research firms also recently commented on FCFS. Janney Montgomery Scott downgraded FirstCash from a buy rating to a neutral rating and dropped their target price for the company from $58.55 to $58.00 in a research report on Monday, July 17th. Zacks Investment Research upgraded FirstCash from a hold rating to a buy rating and set a $65.00 price objective for the company in a research report on Tuesday, July 11th. Stephens raised their price objective on FirstCash from $51.00 to $62.00 and gave the stock an equal weight rating in a research report on Wednesday, June 21st. Wedbush raised their price objective on FirstCash from $55.00 to $60.00 and gave the stock an outperform rating in a research report on Wednesday, May 24th. Finally, TheStreet upgraded FirstCash from a c+ rating to a b rating in a research report on Monday, April 17th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. FirstCash has a consensus rating of Buy and an average target price of $57.86.
FirstCash (NASDAQ FCFS) traded down 0.45% on Monday, hitting $58.15. The company had a trading volume of 193,151 shares. The firm has a market capitalization of $2.77 billion, a PE ratio of 31.48 and a beta of 0.90. The firm has a 50-day moving average price of $58.25 and a 200-day moving average price of $51.13. FirstCash has a 12-month low of $39.80 and a 12-month high of $60.75.
FirstCash (NASDAQ:FCFS) last posted its earnings results on Thursday, July 27th. The credit services provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.47 by $0.05. The firm had revenue of $416.60 million during the quarter, compared to the consensus estimate of $410.65 million. FirstCash had a return on equity of 8.92% and a net margin of 7.29%. The business’s quarterly revenue was up 128.9% on a year-over-year basis. During the same period last year, the company earned $0.51 earnings per share. On average, equities research analysts anticipate that FirstCash will post $2.66 earnings per share for the current fiscal year.
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FirstCash announced that its board has approved a stock repurchase program on Monday, May 15th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the credit services provider to reacquire up to 4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 15th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, August 11th. This represents a $0.76 annualized dividend and a yield of 1.31%. FirstCash’s dividend payout ratio is currently 25.38%.
In related news, CFO R Douglas Orr sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $55.00, for a total transaction of $412,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
A number of large investors have recently added to or reduced their stakes in FCFS. Tyers Asset Management LLC boosted its stake in FirstCash by 14.9% in the first quarter. Tyers Asset Management LLC now owns 2,380 shares of the credit services provider’s stock valued at $117,000 after buying an additional 308 shares in the last quarter. Flinton Capital Management LLC boosted its stake in FirstCash by 14.9% in the first quarter. Flinton Capital Management LLC now owns 2,890 shares of the credit services provider’s stock valued at $142,000 after buying an additional 374 shares in the last quarter. Newfoundland Capital Management acquired a new stake in FirstCash during the first quarter valued at approximately $201,000. Ameritas Investment Partners Inc. acquired a new stake in FirstCash during the first quarter valued at approximately $202,000. Finally, BlueCrest Capital Management Ltd acquired a new stake in FirstCash during the first quarter valued at approximately $202,000.
FirstCash Company Profile
FirstCash, Inc, formerly First Cash Financial Services, Inc, is an operator of retail-based pawn stores in the United States and Latin America. The Company’s primary business is the operation of full-service pawn stores, which make small pawn loans secured by personal property, such as consumer electronics, jewelry, power tools, household appliances, sporting goods and musical instruments.
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