FirstCash Inc (FCFS) Receives Consensus Rating of “Buy” from Brokerages
FirstCash Inc (NASDAQ:FCFS) has earned a consensus rating of “Buy” from the ten brokerages that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $60.33.
Several brokerages have recently weighed in on FCFS. Zacks Investment Research upgraded FirstCash from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Thursday. BidaskClub downgraded FirstCash from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Jefferies Group LLC set a $69.00 price target on FirstCash and gave the company a “buy” rating in a report on Friday, August 18th. JMP Securities raised their price target on FirstCash and gave the company an “outperform” rating in a report on Friday, July 28th. Finally, CL King downgraded FirstCash from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th.
Shares of FirstCash (NASDAQ:FCFS) traded up 0.68% during mid-day trading on Friday, reaching $59.10. 130,194 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $58.66 and a 200 day moving average of $52.84. FirstCash has a one year low of $39.80 and a one year high of $60.75. The firm has a market capitalization of $2.82 billion, a P/E ratio of 32.00 and a beta of 0.90.
FirstCash (NASDAQ:FCFS) last issued its quarterly earnings results on Thursday, July 27th. The credit services provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.05. FirstCash had a return on equity of 4.10% and a net margin of 3.66%. The firm had revenue of $416.60 million during the quarter, compared to the consensus estimate of $410.65 million. During the same period last year, the company earned $0.51 earnings per share. The company’s revenue was up 128.9% on a year-over-year basis. On average, analysts forecast that FirstCash will post $2.66 EPS for the current fiscal year.
FirstCash announced that its board has approved a stock repurchase program on Monday, May 15th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the credit services provider to purchase up to 4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Tuesday, August 15th were issued a $0.19 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.76 annualized dividend and a yield of 1.29%. FirstCash’s payout ratio is 25.38%.
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In related news, CFO R Douglas Orr sold 7,500 shares of FirstCash stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $55.00, for a total value of $412,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
A number of large investors have recently added to or reduced their stakes in the company. Chevy Chase Trust Holdings Inc. increased its stake in FirstCash by 0.3% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 4,394 shares of the credit services provider’s stock valued at $256,000 after buying an additional 12 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in FirstCash by 1.2% in the second quarter. Ameritas Investment Partners Inc. now owns 4,160 shares of the credit services provider’s stock valued at $242,000 after buying an additional 50 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in FirstCash by 0.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 32,077 shares of the credit services provider’s stock valued at $1,870,000 after buying an additional 83 shares during the last quarter. HL Financial Services LLC increased its stake in FirstCash by 2.2% in the second quarter. HL Financial Services LLC now owns 4,237 shares of the credit services provider’s stock valued at $247,000 after buying an additional 91 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in FirstCash by 0.3% in the second quarter. Nisa Investment Advisors LLC now owns 29,848 shares of the credit services provider’s stock valued at $1,740,000 after buying an additional 100 shares during the last quarter.
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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