FirstCash Inc (FCFS) Downgraded by Zacks Investment Research
Zacks Investment Research downgraded shares of FirstCash Inc (NASDAQ:FCFS) from a buy rating to a hold rating in a research report sent to investors on Wednesday.
According to Zacks, “FirstCash Inc. is an operator of pawn stores. The company focuses on serving cash and credit constrained consumers through its retail pawn locations, which buy and sell jewelry, consumer electronics, power tools, household appliances, sporting goods, musical instruments and other merchandise. It operates primarily in the U.S., Mexico, Guatemala and El Salvador. FirstCash, Inc., formerly known as First Cash Financial Services Inc., is based in Arlington, United States. “
A number of other research firms have also weighed in on FCFS. BidaskClub lowered FirstCash from a hold rating to a sell rating in a research note on Thursday, September 14th. JMP Securities upped their price objective on FirstCash and gave the stock an outperform rating in a research note on Friday, July 28th. Jefferies Group LLC set a $69.00 price objective on FirstCash and gave the stock a buy rating in a research note on Friday, August 18th. Janney Montgomery Scott lowered FirstCash from a buy rating to a neutral rating and dropped their price objective for the stock from $58.55 to $58.00 in a research note on Monday, July 17th. Finally, Stephens upped their price objective on FirstCash from $51.00 to $62.00 and gave the stock an equal weight rating in a research note on Wednesday, June 21st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $61.50.
Shares of FirstCash (NASDAQ:FCFS) traded down 0.47% on Wednesday, reaching $63.15. The company’s stock had a trading volume of 213,550 shares. The company’s 50-day moving average is $58.89 and its 200 day moving average is $54.14. FirstCash has a 12-month low of $39.80 and a 12-month high of $63.60. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 34.19 and a beta of 0.90.
FirstCash (NASDAQ:FCFS) last released its quarterly earnings data on Thursday, July 27th. The credit services provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. The firm had revenue of $416.60 million during the quarter, compared to analyst estimates of $410.65 million. FirstCash had a return on equity of 4.10% and a net margin of 3.66%. The business’s quarterly revenue was up 128.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.51 earnings per share. Equities analysts anticipate that FirstCash will post $2.66 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Tuesday, August 15th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Friday, August 11th. FirstCash’s payout ratio is presently 25.38%.
A number of institutional investors have recently made changes to their positions in FCFS. BlackRock Inc. boosted its stake in FirstCash by 77,659.7% during the first quarter. BlackRock Inc. now owns 5,898,853 shares of the credit services provider’s stock valued at $289,930,000 after buying an additional 5,891,267 shares during the last quarter. Park West Asset Management LLC boosted its stake in FirstCash by 247.3% during the first quarter. Park West Asset Management LLC now owns 949,415 shares of the credit services provider’s stock valued at $46,664,000 after buying an additional 676,019 shares during the last quarter. Fiduciary Management Inc. WI boosted its stake in FirstCash by 27.6% during the first quarter. Fiduciary Management Inc. WI now owns 3,029,034 shares of the credit services provider’s stock valued at $148,877,000 after buying an additional 654,624 shares during the last quarter. Wellington Management Group LLP boosted its stake in FirstCash by 98.6% during the first quarter. Wellington Management Group LLP now owns 1,267,147 shares of the credit services provider’s stock valued at $62,280,000 after buying an additional 629,104 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd bought a new position in FirstCash during the first quarter valued at approximately $15,612,000.
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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