FirstCash Inc to Post Q2 2017 Earnings of $0.45 Per Share, Wedbush Forecasts (FCFS)
FirstCash Inc (NASDAQ:FCFS) – Stock analysts at Wedbush dropped their Q2 2017 earnings per share (EPS) estimates for shares of FirstCash in a research report issued to clients and investors on Tuesday. Wedbush analyst H. Coffey now expects that the credit services provider will post earnings of $0.45 per share for the quarter, down from their previous forecast of $0.47. Wedbush has a “Outperform” rating and a $60.00 price objective on the stock. Wedbush also issued estimates for FirstCash’s Q3 2017 earnings at $0.74 EPS.
Other analysts have also recently issued research reports about the stock. JMP Securities reduced their price target on shares of FirstCash from $57.00 to $52.00 and set a “mkt outperform” rating on the stock in a research report on Friday, February 3rd. Zacks Investment Research raised shares of FirstCash from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Thursday, April 27th. TheStreet raised shares of FirstCash from a “c+” rating to a “b” rating in a research report on Monday, April 17th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $60.00 price target on shares of FirstCash in a research report on Friday, April 7th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $54.63.
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Shares of FirstCash (NASDAQ:FCFS) opened at 53.40 on Thursday. FirstCash has a 12-month low of $39.80 and a 12-month high of $54.95. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 26.94 and a beta of 0.90. The stock has a 50 day moving average of $51.43 and a 200 day moving average of $46.99.
FirstCash (NASDAQ:FCFS) last released its quarterly earnings data on Thursday, April 27th. The credit services provider reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.08. The business had revenue of $447.60 million for the quarter, compared to the consensus estimate of $435.14 million. During the same quarter last year, the business earned $0.48 EPS. FirstCash’s revenue for the quarter was up 144.3% compared to the same quarter last year.
Several large investors have recently modified their holdings of FCFS. BlackRock Inc. increased its stake in FirstCash by 77,659.7% in the first quarter. BlackRock Inc. now owns 5,898,853 shares of the credit services provider’s stock worth $289,930,000 after buying an additional 5,891,267 shares during the period. Park West Asset Management LLC increased its stake in FirstCash by 247.3% in the first quarter. Park West Asset Management LLC now owns 949,415 shares of the credit services provider’s stock worth $46,664,000 after buying an additional 676,019 shares during the period. Fiduciary Management Inc. WI increased its stake in FirstCash by 27.6% in the first quarter. Fiduciary Management Inc. WI now owns 3,029,034 shares of the credit services provider’s stock worth $148,877,000 after buying an additional 654,624 shares during the period. Wellington Management Group LLP increased its stake in FirstCash by 98.6% in the first quarter. Wellington Management Group LLP now owns 1,267,147 shares of the credit services provider’s stock worth $62,280,000 after buying an additional 629,104 shares during the period. Finally, Norges Bank acquired a new stake in FirstCash during the fourth quarter worth approximately $24,894,000.
In related news, CFO R Douglas Orr sold 5,000 shares of the stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $52.50, for a total transaction of $262,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 31st. Investors of record on Monday, May 15th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Thursday, May 11th. FirstCash’s dividend payout ratio is presently 25.38%.
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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