FY2018 Earnings Forecast for FirstCash Inc Issued By Wedbush (FCFS)
FirstCash Inc (NYSE:FCFS) – Analysts at Wedbush raised their FY2018 earnings per share (EPS) estimates for FirstCash in a research note issued to investors on Wednesday. Wedbush analyst H. Coffey now forecasts that the credit services provider will post earnings per share of $3.30 for the year, up from their prior estimate of $3.20. Wedbush currently has a “Buy” rating and a $75.00 target price on the stock.
A number of other equities analysts have also issued reports on FCFS. BidaskClub lowered shares of FirstCash from a “hold” rating to a “sell” rating in a research report on Thursday, September 14th. Zacks Investment Research upgraded shares of FirstCash from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Thursday, September 14th. Credit Suisse Group started coverage on shares of FirstCash in a research report on Wednesday, October 4th. They issued an “outperform” rating and a $73.00 target price for the company. Finally, Jefferies Group reiterated a “buy” rating and issued a $73.00 target price on shares of FirstCash in a research report on Thursday, October 12th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $67.00.
FirstCash (NYSE:FCFS) last released its quarterly earnings results on Thursday, October 26th. The credit services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. The business had revenue of $435.40 million during the quarter, compared to analyst estimates of $418.57 million. FirstCash had a net margin of 6.41% and a return on equity of 8.45%. The company’s quarterly revenue was up 66.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.58 earnings per share.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Zions Bancorporation bought a new position in shares of FirstCash during the 3rd quarter valued at about $230,000. Insight Capital Research & Management Inc. bought a new position in shares of FirstCash during the 3rd quarter valued at about $913,000. Cornerstone Capital Management Holdings LLC. bought a new position in shares of FirstCash during the 3rd quarter valued at about $1,736,000. California Public Employees Retirement System boosted its position in shares of FirstCash by 3.9% during the 3rd quarter. California Public Employees Retirement System now owns 166,423 shares of the credit services provider’s stock valued at $10,510,000 after purchasing an additional 6,211 shares in the last quarter. Finally, Grandeur Peak Global Advisors LLC bought a new position in shares of FirstCash during the 3rd quarter valued at about $54,801,000. Hedge funds and other institutional investors own 95.69% of the company’s stock.
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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