Brokerages Anticipate FirstCash, Inc. (NASDAQ:FCFS) Will Post Quarterly Sales of $403.53 Million

Wall Street brokerages predict that FirstCash, Inc. (NASDAQ:FCFS) will post $403.53 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for FirstCash’s earnings. The highest sales estimate is $412.90 million and the lowest is $396.65 million. FirstCash reported sales of $359.89 million in the same quarter last year, which indicates a positive year-over-year growth rate of 12.1%. The firm is expected to issue its next earnings results before the market opens on Wednesday, October 20th.

On average, analysts expect that FirstCash will report full year sales of $1.62 billion for the current financial year, with estimates ranging from $1.60 billion to $1.64 billion. For the next financial year, analysts expect that the company will post sales of $1.70 billion, with estimates ranging from $1.66 billion to $1.72 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover FirstCash.

FirstCash (NASDAQ:FCFS) last posted its quarterly earnings data on Tuesday, July 20th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.10. FirstCash had a return on equity of 9.63% and a net margin of 7.09%. The business had revenue of $389.58 million for the quarter, compared to analysts’ expectations of $380.94 million. During the same quarter last year, the firm earned $0.62 earnings per share. The business’s revenue was down 5.6% on a year-over-year basis.

A number of research analysts recently weighed in on FCFS shares. Zacks Investment Research upgraded FirstCash from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a report on Tuesday, July 13th. Jefferies Financial Group initiated coverage on FirstCash in a report on Friday, September 10th. They issued a “buy” rating and a $105.00 price objective for the company. Barclays boosted their price objective on FirstCash from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, August 17th. Wedbush lifted their target price on FirstCash from $82.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, September 8th. Finally, Credit Suisse Group downgraded FirstCash from an “outperform” rating to an “underperform” rating and lifted their target price for the company from $74.00 to $83.00 in a research note on Tuesday, June 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $92.00.

A number of large investors have recently made changes to their positions in the business. FMR LLC grew its holdings in shares of FirstCash by 10.0% during the 2nd quarter. FMR LLC now owns 5,474,844 shares of the company’s stock valued at $418,498,000 after acquiring an additional 498,259 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of FirstCash by 8.4% during the 1st quarter. Earnest Partners LLC now owns 2,730,662 shares of the company’s stock valued at $179,323,000 after acquiring an additional 211,361 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of FirstCash during the 2nd quarter valued at $9,485,000. Millennium Management LLC grew its holdings in shares of FirstCash by 2,329.7% during the 2nd quarter. Millennium Management LLC now owns 125,737 shares of the company’s stock valued at $9,611,000 after acquiring an additional 120,562 shares in the last quarter. Finally, M&G Investment Management Ltd. purchased a new position in shares of FirstCash during the 2nd quarter valued at $7,902,000. 94.69% of the stock is currently owned by institutional investors.

FirstCash stock traded up $1.86 during midday trading on Monday, reaching $85.91. The stock had a trading volume of 1,630 shares, compared to its average volume of 212,279. FirstCash has a twelve month low of $51.15 and a twelve month high of $89.79. The stock has a market capitalization of $3.48 billion, a PE ratio of 31.94 and a beta of 0.84. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.78 and a current ratio of 2.69. The stock’s 50-day simple moving average is $85.95 and its 200 day simple moving average is $79.34.

The company also recently announced a quarterly dividend, which was paid on Friday, August 27th. Shareholders of record on Friday, August 13th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.40%. The ex-dividend date was Thursday, August 12th. FirstCash’s dividend payout ratio (DPR) is currently 39.87%.

About FirstCash

FirstCash, Inc operates retail-based pawn stores. It operates through the following segments: U.S. operations and Latin America operations. The U. S. Operations segment includes all pawn and consumer loan operations in the U. S. The Latin America Operations segment consists of all pawn and consumer loan operations in Latin America, which includes operations in Mexico, Guatemala, El Salvador and Colombia.

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