FirstCash (NASDAQ:FCFS) Posts Quarterly Earnings Results, Beats Expectations By $0.11 EPS

by · The Cerbat Gem

FirstCash (NASDAQ:FCFS – Get Free Report) issued its earnings results on Thursday. The company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.11, Zacks reports. FirstCash had a return on equity of 19.65% and a net margin of 9.42%.The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company earned $1.34 EPS. The firm’s quarterly revenue was up 29.4% on a year-over-year basis.

FirstCash Trading Down 1.2%

Shares of FCFS opened at $195.06 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.42 and a current ratio of 4.89. FirstCash has a fifty-two week low of $119.21 and a fifty-two week high of $235.97. The stock has a market capitalization of $8.55 billion, a PE ratio of 22.27 and a beta of 0.53. The company’s fifty day moving average is $219.55 and its 200 day moving average is $201.09.

FirstCash Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.9%. FirstCash’s dividend payout ratio (DPR) is 19.18%.

Insider Transactions at FirstCash

In other FirstCash news, Director Paula K. Garrett sold 1,500 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $217.40, for a total value of $326,100.00. Following the transaction, the director directly owned 6,564 shares in the company, valued at $1,427,013.60. This represents a 18.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Howard F. Hambleton sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $226.41, for a total transaction of $679,230.00. Following the sale, the insider directly owned 32,406 shares in the company, valued at approximately $7,337,042.46. The trade was a 8.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 27,500 shares of company stock valued at $6,243,104 over the last three months. 2.86% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FirstCash

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC grew its holdings in shares of FirstCash by 490.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 195 shares of the company’s stock worth $31,000 after purchasing an additional 162 shares during the last quarter. Danske Bank A S purchased a new stake in shares of FirstCash in the 3rd quarter valued at about $48,000. Global Retirement Partners LLC boosted its position in shares of FirstCash by 6,200.0% in the 4th quarter. Global Retirement Partners LLC now owns 315 shares of the company’s stock valued at $50,000 after purchasing an additional 310 shares during the period. Smartleaf Asset Management LLC grew its stake in FirstCash by 154.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 559 shares of the company’s stock worth $90,000 after buying an additional 339 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in FirstCash by 80.1% during the 3rd quarter. Larson Financial Group LLC now owns 816 shares of the company’s stock worth $129,000 after buying an additional 363 shares during the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FCFS. Wall Street Zen lowered shares of FirstCash from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Weiss Ratings lowered shares of FirstCash from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, April 27th. Canaccord Genuity Group raised their target price on shares of FirstCash from $242.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, April 24th. TD Cowen lifted their price target on shares of FirstCash from $235.00 to $240.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Finally, Zacks Research cut shares of FirstCash from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, FirstCash currently has a consensus rating of “Moderate Buy” and an average target price of $199.25.

Get Our Latest Research Report on FCFS

FirstCash News Summary

Here are the key news stories impacting FirstCash this week:

  • Positive Sentiment: FirstCash posted record second-quarter results, with EPS of $2.50 beating estimates of $2.39 and revenue of $1.07 billion topping the $1.03 billion consensus. Management also said pawn demand helped drive a 58% increase in GAAP EPS and a 40% increase in adjusted EPS. Article Title
  • Positive Sentiment: The company declared a quarterly dividend of $0.42 per share, signaling continued cash generation and shareholder returns. Article Title
  • Positive Sentiment: FirstCash also authorized a new $150 million share repurchase plan after completing its prior program, which can support earnings per share and investor confidence. Article Title
  • Neutral Sentiment: Short-interest data showed no meaningful short position reported, so it does not add a clear new catalyst for the shares.

FirstCash Company Profile

(Get Free Report)

FirstCash, Inc (NASDAQ: FCFS) is a leading integrated operator of pawn stores and provider of short-term consumer loan services in the United States and Mexico. Through its retail pawn outlets, FirstCash offers collateral-based loans secured by personal property, enabling customers to access liquidity without a credit history or traditional bank account. The company also purchases, trades and sells a broad range of secondhand merchandise, including electronics, jewelry and power tools, through its network of conveniently located stores.

In addition to its pawn-broking activities, FirstCash provides unsecured consumer loans designed to meet urgent cash needs.

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