FirstCash Inc to Post Q4 2019 Earnings of $1.36 Per Share, Wedbush Forecasts (FCFS)
FirstCash Inc (NYSE:FCFS) – Research analysts at Wedbush lifted their Q4 2019 earnings per share (EPS) estimates for FirstCash in a research report issued on Thursday, January 31st. Wedbush analyst H. Coffey now forecasts that the credit services provider will earn $1.36 per share for the quarter, up from their previous forecast of $1.30. Wedbush currently has a “Neutral” rating and a $90.00 target price on the stock.
A number of other research firms have also weighed in on FCFS. Zacks Investment Research raised shares of FirstCash from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. ValuEngine lowered shares of FirstCash from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $93.17.
FirstCash (NYSE:FCFS) last released its earnings results on Thursday, January 31st. The credit services provider reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.01. The firm had revenue of $481.21 million for the quarter, compared to analyst estimates of $489.76 million.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 28th. Stockholders of record on Thursday, February 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Wednesday, February 13th.
FirstCash announced that its Board of Directors has authorized a stock buyback program on Thursday, October 25th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the credit services provider to purchase up to 2.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
In related news, Director James H. Graves sold 7,000 shares of the company’s stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $89.11, for a total value of $623,770.00. Following the sale, the director now owns 23,597 shares of the company’s stock, valued at $2,102,728.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO R Douglas Orr sold 2,500 shares of the company’s stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $85.00, for a total transaction of $212,500.00. Following the completion of the sale, the chief financial officer now directly owns 157,500 shares in the company, valued at approximately $13,387,500. The disclosure for this sale can be found here. 2.83% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of FCFS. FMR LLC increased its stake in FirstCash by 202.1% in the third quarter. FMR LLC now owns 712,199 shares of the credit services provider’s stock valued at $58,401,000 after acquiring an additional 476,471 shares during the period. Peregrine Capital Management LLC bought a new stake in FirstCash during the fourth quarter worth about $15,993,000. Renaissance Technologies LLC grew its stake in FirstCash by 10.8% during the third quarter. Renaissance Technologies LLC now owns 1,492,624 shares of the credit services provider’s stock worth $122,395,000 after buying an additional 144,900 shares during the last quarter. BlackRock Inc. grew its stake in FirstCash by 1.5% during the third quarter. BlackRock Inc. now owns 6,468,633 shares of the credit services provider’s stock worth $530,426,000 after buying an additional 92,540 shares during the last quarter. Finally, BlueMountain Capital Management LLC grew its stake in FirstCash by 954.0% during the third quarter. BlueMountain Capital Management LLC now owns 72,143 shares of the credit services provider’s stock worth $5,916,000 after buying an additional 65,298 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.
FirstCash Company Profile
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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