Zacks: Brokerages Anticipate FirstCash Inc (NASDAQ:FCFS) to Announce $0.46 EPS
Equities research analysts expect FirstCash Inc (NASDAQ:FCFS) to announce earnings per share of $0.46 for the current fiscal quarter, Zacks reports. Four analysts have made estimates for FirstCash’s earnings. The highest EPS estimate is $0.47 and the lowest is $0.44. FirstCash posted earnings of $0.51 per share in the same quarter last year, which indicates a negative year over year growth rate of 9.8%. The firm is scheduled to report its next earnings results before the market opens on Thursday, July 27th.
On average, analysts expect that FirstCash will report full year earnings of $2.60 per share for the current year, with EPS estimates ranging from $2.57 to $2.63. For the next year, analysts anticipate that the business will report earnings of $3.06 per share, with EPS estimates ranging from $2.87 to $3.20. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that that provide coverage for FirstCash.
FirstCash (NASDAQ:FCFS) last issued its quarterly earnings results on Thursday, April 27th. The credit services provider reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.08. The company had revenue of $447.60 million for the quarter, compared to analyst estimates of $435.14 million. FirstCash had a net margin of 7.29% and a return on equity of 8.92%. The business’s revenue for the quarter was up 144.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 earnings per share.
A number of research firms recently issued reports on FCFS. Janney Montgomery Scott lowered FirstCash from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $58.55 to $58.00 in a research report on Monday. Zacks Investment Research upgraded FirstCash from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Tuesday, July 11th. BidaskClub upgraded FirstCash from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Stephens boosted their price objective on FirstCash from $51.00 to $62.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 21st. Finally, Wedbush boosted their price objective on FirstCash from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, May 24th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $57.86.
In related news, CFO R Douglas Orr sold 7,500 shares of the business’s stock in a transaction that occurred 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 accessible through this link.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Stoneridge Investment Partners LLC raised its position in shares of FirstCash by 52.7% in the first quarter. Stoneridge Investment Partners LLC now owns 34,092 shares of the credit services provider’s stock worth $1,676,000 after buying an additional 11,770 shares during the period. Great West Life Assurance Co. Can raised its position in shares of FirstCash by 5.8% in the first quarter. Great West Life Assurance Co. Can now owns 68,119 shares of the credit services provider’s stock worth $3,345,000 after buying an additional 3,739 shares during the period. Russell Investments Group Ltd. raised its position in shares of FirstCash by 5.6% in the first quarter. Russell Investments Group Ltd. now owns 239,205 shares of the credit services provider’s stock worth $11,758,000 after buying an additional 12,670 shares during the period. Profit Investment Management LLC raised its position in shares of FirstCash by 33.2% in the first quarter. Profit Investment Management LLC now owns 36,410 shares of the credit services provider’s stock worth $1,790,000 after buying an additional 9,065 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of FirstCash by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 5,350 shares of the credit services provider’s stock worth $262,000 after buying an additional 110 shares during the period.
Shares of FirstCash (NASDAQ FCFS) traded down 0.129% during mid-day trading on Friday, reaching $57.875. 99,897 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $56.86 and a 200 day moving average price of $49.71. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 29.200 and a beta of 0.90. FirstCash has a 52 week low of $39.80 and a 52 week high of $59.35.
FirstCash declared that its board has initiated a share buyback plan on Monday, May 15th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the credit services provider to reacquire up to 4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
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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