FirstCash (NASDAQ:FCFS) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

FirstCash (NASDAQ:FCFS) announced its quarterly earnings data on Thursday. The company reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.05, Zacks reports. FirstCash had a net margin of 9.42% and a return on equity of 19.65%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.86 earnings per share.

FirstCash Stock Down 9.3%

Shares of NASDAQ:FCFS opened at $196.53 on Thursday. FirstCash has a fifty-two week low of $146.77 and a fifty-two week high of $238.93. The firm’s 50 day moving average price is $217.83 and its 200 day moving average price is $216.41. The company has a quick ratio of 3.51, a current ratio of 4.89 and a debt-to-equity ratio of 1.01. The stock has a market cap of $8.52 billion, a price-to-earnings ratio of 22.53 and a beta of 0.55.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FCFS shares. Weiss Ratings upgraded shares of FirstCash from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Wall Street Zen cut shares of FirstCash from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. TD Cowen boosted their price target on shares of FirstCash from $240.00 to $242.00 and gave the stock a “buy” rating in a research note on Tuesday, October 6th. Loop Capital upgraded shares of FirstCash from a “hold” rating to a “buy” rating and set a $255.00 price target for the company in a research note on Monday, August 10th. Finally, Stephens reaffirmed an “overweight” rating and set a $250.00 price objective on shares of FirstCash in a research report on Thursday, October 1st. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, FirstCash currently has a consensus rating of “Moderate Buy” and an average price target of $253.00.

Insider Activity

In other news, CFO R. Orr sold 2,000 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $216.00, for a total value of $432,000.00. Following the sale, the chief financial officer directly owned 34,734 shares in the company, valued at approximately $7,502,544. This trade represents a 5.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James H. Graves sold 3,750 shares of FirstCash stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $221.20, for a total transaction of $829,500.00. Following the sale, the director directly owned 11,929 shares of the company’s stock, valued at approximately $2,638,694.80. This trade represents a 23.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 14,098 shares of company stock worth $3,051,281. Insiders own 2.86% of the company’s stock.

FirstCash Company Profile

FirstCash Holdings, Inc is a specialty financial services and retail company that operates pawn stores in the United States and Mexico. Through its pawn operations, the company provides short-term, collateral-backed loans to consumers who pledge personal property as security. Customers can reclaim their pledged items by repaying the loan and applicable fees within the required period.

The company also generates revenue by selling merchandise that has been forfeited on pawn loans or acquired through other purchasing activities.