FirstCash Inc (NASDAQ:FCFS) Downgraded by BidaskClub

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.

TRADEMARK VIOLATION WARNING: This piece of content was posted by Stock Observer and is the property of of Stock Observer. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark legislation. The correct version of this piece of content can be viewed at https://www.thestockobserver.com/2017/08/12/firstcash-inc-nasdaqfcfs-downgraded-by-bidaskclub-to-buy-updated-updated.html.

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.

Analyst Recommendations for FirstCash (NASDAQ:FCFS)

Receive News & Ratings for FirstCash Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstCash Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply