FirstCash (NASDAQ:FCFS) Reaches New 1-Year High – Still a Buy?
by Mitch Edgeman · The Markets DailyShares of FirstCash Holdings, Inc. (NASDAQ:FCFS – Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $199.70 and last traded at $199.3950, with a volume of 170035 shares. The stock had previously closed at $189.92.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on the company. Wall Street Zen cut FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 15th. Canaccord Genuity Group upped their price target on shares of FirstCash from $217.00 to $240.00 and gave the company a “buy” rating in a report on Friday, March 20th. Zacks Research lowered shares of FirstCash from a “strong-buy” rating to a “hold” rating in a report on Friday, January 2nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of FirstCash in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.25.
Check Out Our Latest Analysis on FirstCash
FirstCash Price Performance
The stock has a market capitalization of $8.78 billion, a P/E ratio of 26.90 and a beta of 0.47. The company has a 50 day moving average of $185.91 and a 200-day moving average of $167.96. The company has a quick ratio of 3.36, a current ratio of 4.55 and a debt-to-equity ratio of 0.97.
FirstCash (NASDAQ:FCFS – Get Free Report) last released its earnings results on Thursday, February 5th. The company reported $2.64 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.10. FirstCash had a net margin of 9.02% and a return on equity of 17.99%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm earned $2.12 earnings per share. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. Sell-side analysts predict that FirstCash Holdings, Inc. will post 7.7 EPS for the current year.
FirstCash Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Wednesday, February 18th were issued a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $1.68 dividend on an annualized basis and a yield of 0.8%. FirstCash’s dividend payout ratio (DPR) is currently 22.64%.
Insider Activity
In related news, COO Thomas Brent Stuart sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $182.53, for a total transaction of $1,825,300.00. Following the completion of the transaction, the chief operating officer owned 150,846 shares in the company, valued at $27,533,920.38. The trade was a 6.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO R Douglas Orr sold 4,000 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $175.37, for a total value of $701,480.00. Following the transaction, the chief financial officer owned 111,289 shares of the company’s stock, valued at approximately $19,516,751.93. The trade was a 3.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 26,500 shares of company stock valued at $4,783,985. 2.93% of the stock is currently owned by insiders.
Hedge Funds Weigh In On FirstCash
Several institutional investors have recently modified their holdings of FCFS. Root Financial Partners LLC acquired a new position in FirstCash during the 3rd quarter valued at about $25,000. Rothschild Investment LLC grew its holdings in FirstCash by 127.8% in the 3rd quarter. Rothschild Investment LLC now owns 180 shares of the company’s stock worth $29,000 after buying an additional 101 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in FirstCash by 490.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 195 shares of the company’s stock valued at $31,000 after acquiring an additional 162 shares during the period. Community Bank N.A. bought a new stake in FirstCash during the 3rd quarter valued at $32,000. Finally, High Point Wealth Management LLC bought a new position in shares of FirstCash in the fourth quarter worth $33,000. Institutional investors own 80.30% of the company’s stock.
About FirstCash
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.