FirstCash Inc (NASDAQ:FCFS) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of FirstCash Inc (NASDAQ:FCFS) from a buy rating to a hold rating in a report released on Wednesday, August 30th.

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. “

A number of other equities analysts have also recently weighed in on FCFS. Wedbush lifted their price target on shares of FirstCash from $55.00 to $60.00 and gave the stock an outperform rating in a research report on Wednesday, May 24th. Stephens lifted their price target on shares of FirstCash from $51.00 to $62.00 and gave the stock an equal weight rating in a research report on Wednesday, June 21st. BidaskClub raised shares of FirstCash from a buy rating to a strong-buy rating in a research report on Tuesday, June 27th. Janney Montgomery Scott cut shares of FirstCash from a buy rating to a neutral rating and reduced their price target for the stock from $58.55 to $58.00 in a research report on Monday, July 17th. Finally, CL King cut shares of FirstCash from a strong-buy rating to a buy rating in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $61.00.

FirstCash (FCFS) opened at 59.80 on Wednesday. FirstCash has a 52-week low of $39.80 and a 52-week high of $60.75. The firm’s 50-day moving average price is $58.77 and its 200 day moving average price is $53.79. The stock has a market cap of $2.85 billion, a P/E ratio of 32.38 and a beta of 0.90.

FirstCash (NASDAQ:FCFS) last announced its quarterly earnings results on Thursday, July 27th. The credit services provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. The company had revenue of $416.60 million for the quarter, compared to analysts’ expectations of $410.65 million. FirstCash had a net margin of 3.66% and a return on equity of 4.10%. The business’s quarterly revenue was up 128.9% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share. Equities analysts predict that FirstCash will post $2.66 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “FirstCash Inc (NASDAQ:FCFS) Downgraded to Hold at Zacks Investment Research” was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this story on another website, it was illegally copied and republished in violation of US & international copyright & trademark laws. The legal version of this story can be accessed at https://ledgergazette.com/2017/09/17/zacks-investment-research-lowers-firstcash-inc-fcfs-to-hold.html.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Tuesday, August 15th were given a $0.19 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.76 annualized dividend and a yield of 1.27%. FirstCash’s dividend payout ratio is currently 25.38%.

A number of hedge funds have recently modified their holdings of FCFS. Teachers Advisors LLC increased its stake in FirstCash by 25.5% in the 4th quarter. Teachers Advisors LLC now owns 102,818 shares of the credit services provider’s stock valued at $4,832,000 after buying an additional 20,898 shares during the last quarter. Bank of Montreal Can increased its stake in FirstCash by 60.9% in the 1st quarter. Bank of Montreal Can now owns 97,545 shares of the credit services provider’s stock valued at $4,794,000 after buying an additional 36,903 shares during the last quarter. State of Alaska Department of Revenue increased its stake in FirstCash by 2.1% in the 1st quarter. State of Alaska Department of Revenue now owns 5,350 shares of the credit services provider’s stock valued at $262,000 after buying an additional 110 shares during the last quarter. Russell Investments Group Ltd. increased its stake in FirstCash by 5.6% in the 1st quarter. Russell Investments Group Ltd. now owns 239,205 shares of the credit services provider’s stock valued at $11,758,000 after buying an additional 12,670 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in FirstCash by 5.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 68,119 shares of the credit services provider’s stock valued at $3,345,000 after buying an additional 3,739 shares during the last quarter.

FirstCash Company Profile

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.

Get a free copy of the Zacks research report on FirstCash (FCFS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for FirstCash (NASDAQ:FCFS)

Receive News & Ratings for FirstCash Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstCash Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply