Wall Street brokerages expect that FirstCash Inc (NYSE:FCFS) will report earnings per share (EPS) of $0.80 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for FirstCash’s earnings, with the lowest EPS estimate coming in at $0.76 and the highest estimate coming in at $0.85. FirstCash posted earnings per share of $0.61 during the same quarter last year, which would indicate a positive year-over-year growth rate of 31.1%. The business is expected to announce its next earnings report on Thursday, October 25th.
According to Zacks, analysts expect that FirstCash will report full-year earnings of $3.50 per share for the current fiscal year, with EPS estimates ranging from $3.45 to $3.55. For the next year, analysts forecast that the firm will report earnings of $4.14 per share, with EPS estimates ranging from $3.92 to $4.44. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow FirstCash.
FirstCash (NYSE:FCFS) last announced its quarterly earnings results on Thursday, July 26th. The credit services provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. FirstCash had a return on equity of 10.32% and a net margin of 9.40%. The business had revenue of $419.97 million during the quarter, compared to the consensus estimate of $424.01 million. During the same quarter last year, the firm posted $0.52 EPS. The company’s quarterly revenue was up .8% on a year-over-year basis.
FCFS has been the subject of a number of research reports. ValuEngine downgraded FirstCash from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 5th. Zacks Investment Research downgraded FirstCash from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 4th. Finally, Barclays initiated coverage on FirstCash in a report on Wednesday, September 26th. They set an “overweight” rating and a $95.00 target price for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. FirstCash has a consensus rating of “Hold” and a consensus price target of $93.17.
FirstCash stock traded up $0.42 during mid-day trading on Friday, hitting $74.11. 232,330 shares of the company’s stock traded hands, compared to its average volume of 284,807. FirstCash has a fifty-two week low of $59.35 and a fifty-two week high of $95.40. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 27.05, a P/E/G ratio of 1.17 and a beta of 0.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 6.48 and a quick ratio of 4.36.
FirstCash declared that its board has initiated a share buyback plan on Thursday, July 26th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the credit services provider to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
A number of institutional investors have recently added to or reduced their stakes in FCFS. BlackRock Inc. grew its holdings in shares of FirstCash by 5.6% during the second quarter. BlackRock Inc. now owns 6,376,093 shares of the credit services provider’s stock worth $572,893,000 after purchasing an additional 337,895 shares during the last quarter. Earnest Partners LLC grew its holdings in shares of FirstCash by 18.9% during the first quarter. Earnest Partners LLC now owns 1,643,543 shares of the credit services provider’s stock worth $133,538,000 after purchasing an additional 261,499 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of FirstCash by 39.5% during the second quarter. Renaissance Technologies LLC now owns 1,347,724 shares of the credit services provider’s stock worth $121,093,000 after purchasing an additional 381,500 shares during the last quarter. Northern Trust Corp grew its holdings in shares of FirstCash by 47.4% during the second quarter. Northern Trust Corp now owns 876,793 shares of the credit services provider’s stock worth $78,779,000 after purchasing an additional 281,755 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its holdings in shares of FirstCash by 134.7% during the second quarter. Eagle Asset Management Inc. now owns 737,373 shares of the credit services provider’s stock worth $66,252,000 after purchasing an additional 423,132 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.
FirstCash, Inc operates retail-based pawn and consumer finance stores in the United States and Mexico. Its pawn stores lend money on the collateral of pledged personal property, including consumer electronics, jewelry, power tools, household appliances, sporting goods, and musical instruments; and retails previously owned merchandise acquired through pawn forfeitures, as well as through purchases from the general public.
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