FirstCash Inc (NASDAQ:FCFS) Receives Average Recommendation of “Buy” from Brokerages
FirstCash Inc (NASDAQ:FCFS) has earned a consensus rating of “Buy” from the ten research firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $58.83.
A number of research analysts recently weighed in on FCFS shares. Zacks Investment Research lowered FirstCash from a “buy” rating to a “hold” rating in a research report on Friday, April 28th. Stephens raised 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. JMP Securities raised their price objective on FirstCash and gave the company an “outperform” rating in a research report on Friday, July 28th. BidaskClub lowered FirstCash from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Finally, CL King lowered FirstCash from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th.
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Shares of FirstCash (NASDAQ FCFS) traded up 1.20% during midday trading on Tuesday, reaching $59.10. The company had a trading volume of 29,095 shares. The company has a 50-day moving average price of $57.67 and a 200 day moving average price of $50.42. FirstCash has a one year low of $39.80 and a one year high of $60.75. The company has a market capitalization of $2.85 billion, a P/E ratio of 32.00 and a beta of 0.90.
FirstCash (NASDAQ:FCFS) last posted its quarterly earnings data on Thursday, July 27th. The credit services provider reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.05. FirstCash had a return on equity of 8.92% and a net margin of 7.29%. The company had revenue of $416.60 million during the quarter, compared to analyst estimates of $410.65 million. During the same quarter last year, the company earned $0.51 EPS. The firm’s revenue for the quarter was up 128.9% on a year-over-year basis. Equities analysts anticipate that FirstCash will post $2.66 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Friday, August 11th. FirstCash’s payout ratio is 25.38%.
FirstCash announced that its board has approved a share buyback program on Monday, May 15th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the credit services provider to buy up to 4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
In other FirstCash 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 value of $412,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised 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 last quarter. Park West Asset Management LLC raised 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 last quarter. Fiduciary Management Inc. WI raised 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 last quarter. Wellington Management Group LLP raised 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 last quarter. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in FirstCash during the first quarter worth approximately $15,612,000.
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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