FirstCash (NASDAQ:FCFS) Reaches New 52-Week High – Here’s What Happened

FirstCash Holdings, Inc. (NASDAQ:FCFS) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $238.38 and last traded at $236.43, with a volume of 1047271 shares. The stock had previously closed at $225.28.

Wall Street Analyst Weigh In

Several analysts recently commented on FCFS shares. Weiss Ratings cut FirstCash from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday. Zacks Research downgraded shares of FirstCash from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Wall Street Zen lowered shares of FirstCash from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Loop Capital raised shares of FirstCash from a “hold” rating to a “buy” rating and set a $255.00 price target on the stock in a research report on Monday, August 10th. Finally, TD Cowen increased their price target on FirstCash from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, FirstCash presently has an average rating of “Moderate Buy” and an average price target of $249.00.

FirstCash Price Performance

The business has a 50-day moving average of $214.52 and a 200 day moving average of $208.03. The company has a current ratio of 4.89, a quick ratio of 3.51 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $9.95 billion, a P/E ratio of 26.20 and a beta of 0.53.

FirstCash (NASDAQ:FCFS) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.11. FirstCash had a return on equity of 19.65% and a net margin of 9.42%.The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the company earned $1.34 earnings per share. The company’s quarterly revenue was up 29.4% on a year-over-year basis. On average, sell-side analysts predict that FirstCash Holdings, Inc. will post 11.85 earnings per share for the current fiscal year.

FirstCash Announces Dividend

The company 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. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, August 14th. FirstCash’s dividend payout ratio (DPR) is currently 19.18%.

Insider Buying and Selling at FirstCash

In other news, insider Howard F. Hambleton sold 2,000 shares of FirstCash stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $212.98, for a total transaction of $425,960.00. Following the completion of the transaction, the insider directly owned 30,406 shares in the company, valued at $6,475,869.88. This trade represents a 6.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Thomas Brent Stuart sold 5,348 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $214.63, for a total transaction of $1,147,841.24. Following the sale, the chief operating officer directly owned 135,498 shares of the company’s stock, valued at approximately $29,081,935.74. The trade was a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 20,348 shares of company stock worth $4,492,755. 2.86% of the stock is owned by company insiders.

Institutional Investors Weigh In On FirstCash

Institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System grew its stake in shares of FirstCash by 21,984.3% in the 2nd quarter. California State Teachers Retirement System now owns 9,970,621 shares of the company’s stock worth $2,156,845,000 after acquiring an additional 9,925,473 shares in the last quarter. BlackRock Inc. bought a new position in shares of FirstCash during the second quarter valued at about $1,088,429,000. Bank of America Corp DE bought a new position in shares of FirstCash during the second quarter valued at about $248,059,000. Bank of New York Mellon Corp bought a new position in shares of FirstCash during the second quarter valued at about $69,779,000. Finally, JPMorgan Chase & Co. boosted its holdings in FirstCash by 133.8% during the fourth quarter. JPMorgan Chase & Co. now owns 562,104 shares of the company’s stock worth $89,588,000 after purchasing an additional 321,663 shares during the last quarter. 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.