FirstCash (NASDAQ:FCFS) Announces Earnings Results, Beats Estimates By $0.11 EPS

FirstCash (NASDAQ:FCFS) posted its quarterly earnings results on Thursday. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.39 by $0.11, Zacks reports. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.03 billion. FirstCash had a return on equity of 18.68% and a net margin of 9.15%.The company’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period last year, the firm earned $1.34 earnings per share.

FirstCash Stock Performance

FCFS stock traded up $6.17 during mid-day trading on Friday, reaching $203.58. The company had a trading volume of 110,813 shares, compared to its average volume of 369,506. The company has a quick ratio of 3.42, a current ratio of 4.77 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $8.92 billion, a P/E ratio of 25.51 and a beta of 0.53. FirstCash has a one year low of $119.21 and a one year high of $235.97. The stock’s 50-day simple moving average is $220.18 and its two-hundred day simple moving average is $201.13.

FirstCash Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.68 annualized dividend and a yield of 0.8%. FirstCash’s dividend payout ratio (DPR) is currently 21.05%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FCFS shares. Zacks Research lowered FirstCash from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Wall Street Zen cut FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Weiss Ratings downgraded shares of FirstCash from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, April 27th. Canaccord Genuity Group boosted 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. Finally, TD Cowen increased their target price on shares of FirstCash from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $199.25.

Key FirstCash News

Here are the key news stories impacting FirstCash this week:

• Positive Sentiment: FirstCash reported record second-quarter operating results, with GAAP EPS rising 58% and adjusted EPS up 40%, driven by stronger pawn demand. The company also beat revenue estimates, posting $1.07 billion versus the expected $1.03 billion. Article Title
• Positive Sentiment: The board declared a quarterly dividend of $0.42 per share, signaling continued shareholder returns. Article Title
• Positive Sentiment: FirstCash also authorized a new $150 million share repurchase program after completing its prior buyback plan, which can support per-share earnings and stock value. Article Title
• Neutral Sentiment: The newly announced dividend has an annualized yield of about 0.9%, which is supportive but not especially large. Article Title

Insider Buying and Selling at FirstCash

In other FirstCash news, SVP Raul Ramos sold 6,835 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $225.23, for a total value of $1,539,447.05. Following the sale, the senior vice president owned 20,400 shares in the company, valued at approximately $4,594,692. This trade represents a 25.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Howard F. Hambleton sold 3,000 shares of the business’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 value of $679,230.00. Following the transaction, the insider owned 32,406 shares of the company’s stock, valued at approximately $7,337,042.46. This represents a 8.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 27,500 shares of company stock valued at $6,243,104. Corporate insiders own 2.86% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC lifted its holdings in FirstCash by 490.9% in 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 period. Danske Bank A S acquired a new position in FirstCash during the 3rd quarter valued at about $48,000. Global Retirement Partners LLC increased its stake in FirstCash by 6,200.0% during the 4th quarter. Global Retirement Partners LLC now owns 315 shares of the company’s stock valued at $50,000 after buying an additional 310 shares during the period. Smartleaf Asset Management LLC raised its position in shares of 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 in the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of FirstCash by 80.1% in the 3rd quarter. Larson Financial Group LLC now owns 816 shares of the company’s stock worth $129,000 after acquiring an additional 363 shares during the period. Institutional investors and hedge funds own 80.30% of the company’s stock.

FirstCash Company Profile

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.