Q1 2017 Earnings Forecast for FirstCash Inc Issued By Wedbush (FCFS)
FirstCash Inc (NASDAQ:FCFS) – Wedbush cut their Q1 2017 earnings per share (EPS) estimates for FirstCash in a research note issued to investors on Wednesday. Wedbush analyst H. Coffey now forecasts that the brokerage will post earnings of $0.65 per share for the quarter, down from their previous estimate of $0.67. Wedbush has a “Outperform” rating and a $55.00 price objective on the stock. Wedbush also issued estimates for FirstCash’s Q2 2017 earnings at $0.50 EPS, Q3 2017 earnings at $0.63 EPS, Q4 2017 earnings at $0.90 EPS, FY2017 earnings at $2.68 EPS and FY2018 earnings at $3.33 EPS.
FirstCash (NASDAQ:FCFS) last posted its earnings results on Thursday, October 27th. The company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.06. The business had revenue of $261.15 million for the quarter, compared to analyst estimates of $280.38 million. During the same quarter last year, the business earned $0.40 earnings per share. FirstCash’s revenue was up 54.1% on a year-over-year basis.
Other equities research analysts have also recently issued reports about the stock. Jefferies Group reissued a “buy” rating on shares of FirstCash in a research report on Wednesday, December 14th. JMP Securities reissued a “buy” rating on shares of FirstCash in a research report on Friday, November 11th. Janney Montgomery Scott raised shares of FirstCash from a “neutral” rating to a “buy” rating and boosted their price target for the company from $52.00 to $59.00 in a research report on Monday, October 3rd. Stephens started coverage on shares of FirstCash in a research report on Thursday. They issued an “equal weight” rating for the company. Finally, TheStreet cut shares of FirstCash from a “buy” rating to a “hold” rating in a research report on Thursday, October 27th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. FirstCash has a consensus rating of “Buy” and an average target price of $53.25.
FirstCash (NASDAQ:FCFS) traded up 0.92% during midday trading on Friday, hitting $43.95. The stock had a trading volume of 369,153 shares. FirstCash has a 12 month low of $29.64 and a 12 month high of $53.95. The stock has a 50 day moving average of $46.64 and a 200 day moving average of $48.57. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 30.58 and a beta of 0.90.
Several hedge funds and other institutional investors have recently modified their holdings of FCFS. Price T Rowe Associates Inc. MD raised its position in shares of FirstCash by 132.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 23,634 shares of the company’s stock worth $1,113,000 after buying an additional 13,464 shares during the period. Cornerstone Capital Management Holdings LLC. purchased a new position in shares of FirstCash during the third quarter worth about $1,055,000. Grandeur Peak Global Advisors LLC raised its position in shares of FirstCash by 29.0% in the third quarter. Grandeur Peak Global Advisors LLC now owns 312,700 shares of the company’s stock worth $14,722,000 after buying an additional 70,325 shares during the period. Credit Suisse AG raised its position in shares of FirstCash by 63.5% in the third quarter. Credit Suisse AG now owns 138,966 shares of the company’s stock worth $6,542,000 after buying an additional 53,992 shares during the period. Finally, Verition Fund Management LLC purchased a new position in shares of FirstCash during the third quarter worth about $321,000.
FirstCash Company Profile
FirstCash, Inc, formerly First Cash Financial Services, Inc, is an operator of retail-based pawn stores in the United States and Mexico. The Company’s primary business is the operation of pawn stores, which make small pawn loans secured by personal property. Its pawn stores generate retail sales from the merchandise acquired through collateral forfeitures and over-the-counter purchases from customers.
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