FirstCash Inc (NASDAQ:FCFS) Rating Lowered to Buy at CL King
A number of other brokerages have also recently commented on FCFS. Janney Montgomery Scott cut FirstCash from a buy rating to a neutral rating and lowered their target price for the company from $58.55 to $58.00 in a report on Monday, July 17th. Zacks Investment Research upgraded FirstCash from a hold rating to a buy rating and set a $65.00 target price on the stock in a report on Tuesday, July 11th. BidaskClub cut FirstCash from a strong-buy rating to a buy rating in a report on Monday, July 24th. Stephens increased their target price on FirstCash from $51.00 to $62.00 and gave the company an equal weight rating in a report on Wednesday, June 21st. Finally, Wedbush increased their target price on FirstCash from $55.00 to $60.00 and gave the company an outperform rating in a report on Wednesday, May 24th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. FirstCash has a consensus rating of Buy and a consensus target price of $57.86.
Shares of FirstCash (NASDAQ FCFS) traded down 0.51% during trading on Thursday, reaching $58.15. The company had a trading volume of 200,874 shares. The firm has a market capitalization of $2.81 billion, a P/E ratio of 31.48 and a beta of 0.90. The firm’s 50 day moving average price is $57.54 and its 200 day moving average price is $50.15. FirstCash has a 12 month low of $39.80 and a 12 month high of $60.75.
FirstCash (NASDAQ:FCFS) last announced its earnings results on Thursday, July 27th. The credit services provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. The firm had revenue of $416.60 million for the quarter, compared to analysts’ expectations of $410.65 million. FirstCash had a return on equity of 8.92% and a net margin of 7.29%. FirstCash’s quarterly revenue was up 128.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 EPS. Equities analysts predict that FirstCash will post $2.63 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 15th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Friday, August 11th. FirstCash’s dividend payout ratio (DPR) is currently 25.38%.
FirstCash declared that its Board of Directors has authorized a stock repurchase program on Monday, May 15th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the credit services provider to purchase up to 4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
In related news, CFO R Douglas Orr sold 5,000 shares of the stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $52.50, for a total value of $262,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Tyers Asset Management LLC raised its position in shares of 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 during the period. Flinton Capital Management LLC raised its position in shares of 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 during the period. Newfoundland Capital Management purchased a new position in shares of FirstCash during the first quarter valued at $201,000. Ameritas Investment Partners Inc. purchased a new position in shares of FirstCash during the first quarter valued at $202,000. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of FirstCash during the first quarter valued at $202,000.
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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