JMP Securities Boosts FirstCash Inc (NASDAQ:FCFS) Price Target to $0.00
Several other equities research analysts have also issued reports on FCFS. CL King lowered FirstCash from a strong-buy rating to a buy rating in a research note on Thursday, July 27th. BidaskClub lowered FirstCash from a strong-buy rating to a buy rating in a research note on Monday, July 24th. Janney Montgomery Scott lowered FirstCash from a buy rating to a neutral rating and dropped their price objective for the company from $58.55 to $58.00 in a research note on Monday, July 17th. Zacks Investment Research raised FirstCash from a hold rating to a buy rating and set a $65.00 price objective for the company in a research note on Tuesday, July 11th. Finally, Stephens lifted their price objective on FirstCash from $51.00 to $62.00 and gave the company an equal weight rating in a research note on Wednesday, June 21st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. FirstCash currently has an average rating of Buy and a consensus price target of $57.86.
FirstCash (NASDAQ FCFS) traded up 0.17% during mid-day trading on Friday, reaching $58.25. The company had a trading volume of 29,249 shares. FirstCash has a 12-month low of $39.80 and a 12-month high of $60.75. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 31.54 and a beta of 0.90. The stock has a 50-day moving average of $57.60 and a 200 day moving average of $50.31.
FirstCash (NASDAQ:FCFS) last announced its quarterly earnings results on Thursday, July 27th. The credit services provider reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ 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 8.92% and a net margin of 7.29%. The firm’s quarterly revenue was up 128.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 earnings per share. On average, analysts expect that FirstCash will post $2.63 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 15th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.31%. The ex-dividend date is Friday, August 11th. FirstCash’s dividend payout ratio is 25.38%.
FirstCash announced that its board has initiated a stock buyback plan on Monday, May 15th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the credit services provider to buy up to 4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In related news, CFO R Douglas Orr sold 7,500 shares of FirstCash stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $55.00, for a total transaction of $412,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of large investors have recently bought and sold shares of FCFS. AQR Capital Management LLC raised its stake in FirstCash by 32.8% in the fourth quarter. AQR Capital Management LLC now owns 55,075 shares of the credit services provider’s stock valued at $2,589,000 after buying an additional 13,607 shares in the last quarter. Norges Bank purchased a new stake in shares of FirstCash during the fourth quarter valued at about $24,894,000. Teachers Advisors LLC raised its stake in shares of FirstCash by 25.5% in the fourth quarter. Teachers Advisors LLC now owns 102,818 shares of the credit services provider’s stock valued at $4,832,000 after buying an additional 20,898 shares during the period. Chevy Chase Trust Holdings Inc. purchased a new stake in shares of FirstCash during the first quarter valued at about $215,000. Finally, Bank of Montreal Can raised its stake in shares of FirstCash by 60.9% in the first quarter. Bank of Montreal Can now owns 97,545 shares of the credit services provider’s stock valued at $4,794,000 after buying an additional 36,903 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.
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