Zacks Investment Research upgraded shares of FirstCash Inc (NASDAQ:FCFS) from a hold rating to a buy rating in a research note published on Thursday, August 31st. They currently have $65.00 price objective on the credit services provider’s stock.
According to Zacks, “FirstCash Inc. is an operator of pawn stores. The company focuses on serving cash and credit constrained consumers through its retail pawn locations, which buy and sell jewelry, consumer electronics, power tools, household appliances, sporting goods, musical instruments and other merchandise. It operates primarily in the U.S., Mexico, Guatemala and El Salvador. FirstCash, Inc., formerly known as First Cash Financial Services Inc., is based in Arlington, United States. “
FCFS has been the topic of several other research reports. Jefferies Group LLC set a $69.00 price target on FirstCash and gave the company a buy rating in a research note on Friday, August 18th. JMP Securities raised their price target on FirstCash and gave the company an outperform rating in a research note on Friday, July 28th. BidaskClub lowered FirstCash from a buy rating to a hold rating in a research note on Wednesday, August 23rd. CL King lowered FirstCash from a strong-buy rating to a buy rating in a research note on Thursday, July 27th. Finally, Janney Montgomery Scott lowered FirstCash from a buy rating to a neutral rating and cut their target price for the company from $58.55 to $58.00 in a research note on Monday, July 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $61.00.
FirstCash (NASDAQ:FCFS) traded up 3.19% during midday trading on Thursday, reaching $59.80. 542,547 shares of the company traded hands. FirstCash has a 12-month low of $39.80 and a 12-month high of $60.75. The stock has a market capitalization of $2.85 billion, a P/E ratio of 32.38 and a beta of 0.90. The company has a 50 day moving average of $58.77 and a 200-day moving average of $53.79.
FirstCash (NASDAQ:FCFS) last released its earnings results on Thursday, July 27th. The credit services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.05. FirstCash had a return on equity of 4.10% and a net margin of 3.66%. The business had revenue of $416.60 million during the quarter, compared to the consensus estimate of $410.65 million. During the same period last year, the company earned $0.51 earnings per share. The business’s revenue for the quarter was up 128.9% compared to the same quarter last year. Equities analysts anticipate that FirstCash will post $2.66 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.27%. FirstCash’s payout ratio is 25.38%.
Hedge funds have recently modified their holdings of the company. Tyers Asset Management LLC lifted its holdings in shares of FirstCash by 14.9% during the first quarter. Tyers Asset Management LLC now owns 2,380 shares of the credit services provider’s stock worth $117,000 after purchasing an additional 308 shares during the period. Flinton Capital Management LLC lifted its holdings in shares of FirstCash by 14.9% during the first quarter. Flinton Capital Management LLC now owns 2,890 shares of the credit services provider’s stock worth $142,000 after purchasing an additional 374 shares during the period. AlphaOne Investment Services LLC acquired a new stake in shares of FirstCash during the second quarter worth about $207,000. Riverhead Capital Management LLC lifted its holdings in shares of FirstCash by 74.4% during the second quarter. Riverhead Capital Management LLC now owns 3,663 shares of the credit services provider’s stock worth $214,000 after purchasing an additional 1,563 shares during the period. Finally, Miles Capital Inc. acquired a new stake in shares of FirstCash during the second quarter worth about $221,000.
FirstCash, Inc, formerly First Cash Financial Services, Inc, is an operator of retail-based pawn stores in the United States and Latin America. The Company’s primary business is the operation of full-service pawn stores, which make small pawn loans secured by personal property, such as consumer electronics, jewelry, power tools, household appliances, sporting goods and musical instruments.
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