Wedbush Comments on FirstCash Inc’s Q2 2020 Earnings (NYSE:FCFS)
FirstCash Inc (NYSE:FCFS) – Research analysts at Wedbush reduced their Q2 2020 earnings per share estimates for shares of FirstCash in a report released on Wednesday, July 8th. Wedbush analyst H. Coffey now anticipates that the credit services provider will post earnings per share of $0.39 for the quarter, down from their prior forecast of $0.58. Wedbush currently has a “Outperform” rating and a $78.00 target price on the stock. Wedbush also issued estimates for FirstCash’s Q3 2020 earnings at $0.59 EPS, Q4 2020 earnings at $1.26 EPS, Q1 2021 earnings at $1.17 EPS, Q2 2021 earnings at $0.82 EPS, Q3 2021 earnings at $0.88 EPS, Q4 2021 earnings at $1.33 EPS, FY2021 earnings at $4.20 EPS and FY2022 earnings at $4.30 EPS.
FirstCash (NYSE:FCFS) last announced its quarterly earnings results on Wednesday, April 22nd. The credit services provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.07. The company had revenue of $466.50 million for the quarter, compared to analyst estimates of $465.29 million. During the same period in the prior year, the business posted $0.98 earnings per share. FirstCash’s revenue for the quarter was down .3% on a year-over-year basis.
FCFS stock opened at $64.36 on Monday. The company’s 50-day simple moving average is $68.99 and its 200-day simple moving average is $75.49. FirstCash has a 52-week low of $60.04 and a 52-week high of $106.80.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FCFS. First Trust Advisors LP lifted its stake in FirstCash by 37.9% in the 1st quarter. First Trust Advisors LP now owns 39,006 shares of the credit services provider’s stock worth $3,374,000 after purchasing an additional 10,714 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of FirstCash by 6.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 26,239 shares of the credit services provider’s stock worth $2,116,000 after buying an additional 1,671 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of FirstCash by 4.6% during the 4th quarter. Prudential Financial Inc. now owns 29,993 shares of the credit services provider’s stock worth $2,418,000 after buying an additional 1,326 shares during the last quarter. Great West Life Assurance Co. Can acquired a new stake in shares of FirstCash during the 4th quarter worth approximately $1,679,000. Finally, Citigroup Inc. increased its holdings in shares of FirstCash by 21.2% during the 4th quarter. Citigroup Inc. now owns 21,959 shares of the credit services provider’s stock worth $1,771,000 after buying an additional 3,844 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.
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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