Zacks: Analysts Expect FirstCash, Inc. (FCFS) Will Announce Earnings of $0.84 Per Share
Equities research analysts forecast that FirstCash, Inc. (NASDAQ:FCFS) will post $0.84 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for FirstCash’s earnings. The highest EPS estimate is $0.86 and the lowest is $0.83. FirstCash reported earnings of $0.77 per share in the same quarter last year, which would indicate a positive year over year growth rate of 9.1%. The business is expected to report its next quarterly earnings results on Thursday, February 1st.
According to Zacks, analysts expect that FirstCash will report full-year earnings of $2.65 per share for the current year, with EPS estimates ranging from $2.63 to $2.66. For the next year, analysts expect that the company will post earnings of $3.13 per share, with EPS estimates ranging from $3.03 to $3.21. Zacks’ EPS averages are an average based on a survey of research firms that cover FirstCash.
FirstCash (NASDAQ:FCFS) last posted its earnings results on Thursday, October 26th. The credit services provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $435.40 million for the quarter, compared to analyst estimates of $418.57 million. FirstCash had a return on equity of 7.66% and a net margin of 6.49%. The firm’s revenue was up 66.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.58 EPS.
A number of research analysts recently weighed in on the company. Zacks Investment Research raised FirstCash from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a report on Wednesday, August 16th. Jefferies Group LLC set a $69.00 target price on FirstCash and gave the stock a “buy” rating in a report on Friday, August 18th. JMP Securities boosted their target price on FirstCash and gave the stock an “outperform” rating in a report on Friday, July 28th. BidaskClub raised FirstCash from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Finally, Wedbush boosted their target price on FirstCash from $62.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, October 5th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $65.14.
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FirstCash (NASDAQ:FCFS) traded down $0.60 during mid-day trading on Monday, hitting $63.40. The company had a trading volume of 91,800 shares, compared to its average volume of 235,301. FirstCash has a 1-year low of $39.80 and a 1-year high of $65.60.
FirstCash declared that its Board of Directors has approved a share repurchase plan on Thursday, October 26th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the credit services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 13th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.26%. This is a positive change from FirstCash’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, November 10th. FirstCash’s dividend payout ratio is currently 32.62%.
A number of hedge funds and other institutional investors have recently modified their holdings of FCFS. Eagle Asset Management Inc. acquired a new position in FirstCash in the 3rd quarter valued at $16,060,000. Vanguard Group Inc. grew its holdings in FirstCash by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 4,147,634 shares of the credit services provider’s stock valued at $203,857,000 after buying an additional 193,896 shares in the last quarter. Stephens Investment Management Group LLC acquired a new stake in shares of FirstCash during the 2nd quarter worth $9,753,000. Boston Advisors LLC acquired a new stake in shares of FirstCash during the 3rd quarter worth $10,529,000. Finally, Boston Partners grew its holdings in shares of FirstCash by 18.3% during the 2nd quarter. Boston Partners now owns 1,014,894 shares of the credit services provider’s stock worth $59,168,000 after purchasing an additional 156,853 shares in the last quarter.
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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