FirstCash Inc (FCFS) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of FirstCash Inc (NASDAQ:FCFS) from a hold rating to a buy rating in a research report sent to investors on Thursday morning. Zacks Investment Research currently has $68.00 target price on the credit services provider’s stock.
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. “
Several other brokerages have also recently weighed in on FCFS. Jefferies Group LLC set a $69.00 price target on FirstCash and gave the company a buy rating in a research note on Friday, August 18th. BidaskClub cut FirstCash from a buy rating to a hold rating in a research note on Wednesday, August 23rd. JMP Securities increased their price target on FirstCash and gave the company an outperform rating in a research note on Friday, July 28th. Janney Montgomery Scott cut FirstCash from a buy rating to a neutral rating and decreased their price target for the company from $58.55 to $58.00 in a research note on Monday, July 17th. Finally, CL King cut FirstCash from a strong-buy rating to a buy rating in a research note on Thursday, July 27th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. FirstCash currently has a consensus rating of Buy and a consensus price target of $61.50.
FirstCash (NASDAQ FCFS) opened at 61.50 on Thursday. The company has a market cap of $2.93 billion, a PE ratio of 33.30 and a beta of 0.90. The firm’s 50-day moving average price is $58.89 and its 200-day moving average price is $54.14. FirstCash has a one year low of $39.80 and a one year high of $61.65.
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. The company had revenue of $416.60 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share. On average, equities research analysts forecast that FirstCash will post $2.66 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This article was first reported by Watch List News and is owned by of Watch List News. If you are accessing this article on another site, it was stolen and reposted in violation of US & international copyright & trademark law. The legal version of this article can be viewed at https://www.watchlistnews.com/firstcash-inc-fcfs-upgraded-to-buy-by-zacks-investment-research-2/1586007.html.
The firm also recently announced 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. The ex-dividend date was Friday, August 11th. This represents a $0.76 annualized dividend and a yield of 1.24%. FirstCash’s dividend payout ratio is currently 25.38%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FCFS. Newfoundland Capital Management acquired a new stake in FirstCash during the first quarter worth approximately $201,000. Ameritas Investment Partners Inc. acquired a new stake in FirstCash during the first quarter worth approximately $202,000. BlueCrest Capital Management Ltd acquired a new stake in FirstCash during the first quarter worth approximately $202,000. AlphaOne Investment Services LLC acquired a new stake in FirstCash during the second quarter worth approximately $207,000. Finally, Riverhead Capital Management LLC grew its stake in FirstCash by 74.4% during the second quarter. Riverhead Capital Management LLC now owns 3,663 shares of the credit services provider’s stock worth $214,000 after purchasing an additional 1,563 shares during the period.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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 Analyst Ratings Network's FREE daily email newsletter.