FirstCash Inc (FCFS) Raised to Hold at BidaskClub
BidaskClub upgraded shares of FirstCash Inc (NASDAQ:FCFS) from a sell rating to a hold rating in a research report sent to investors on Friday.
A number of other equities research analysts have also recently weighed in on FCFS. Zacks Investment Research raised FirstCash from a hold rating to a buy rating and set a $67.00 price target on the stock in a report on Wednesday, August 16th. Jefferies Group LLC set a $69.00 price target on FirstCash and gave the company a buy rating in a report on Friday, August 18th. JMP Securities lifted their price target on FirstCash and gave the company an outperform rating in a report on Friday, July 28th. CL King cut FirstCash from a strong-buy rating to a buy rating in a report on Thursday, July 27th. Finally, Janney Montgomery Scott cut FirstCash from a buy rating to a neutral rating and cut their price target for the company from $58.55 to $58.00 in a report on Monday, July 17th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $61.50.
FirstCash (FCFS) opened at 61.50 on Friday. The firm has a market cap of $2.93 billion, a PE ratio of 33.30 and a beta of 0.90. The firm’s 50-day moving average price is $58.89 and its 200 day moving average price is $54.14. FirstCash has a 52-week low of $39.80 and a 52-week high of $61.65.
FirstCash (NASDAQ:FCFS) last released its quarterly earnings results on Thursday, July 27th. The credit services provider reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 return on equity of 4.10% and a net margin of 3.66%. The business’s revenue for the quarter was up 128.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 earnings per share. On average, equities analysts anticipate that FirstCash will post $2.66 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Tuesday, August 15th were paid a dividend of $0.19 per share. The ex-dividend date was Friday, August 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.24%. FirstCash’s dividend payout ratio is presently 25.38%.
Several hedge funds and other institutional investors have recently bought and sold shares of FCFS. Bank of New York Mellon Corp increased its stake in shares of FirstCash by 10.3% during the first quarter. Bank of New York Mellon Corp now owns 716,521 shares of the credit services provider’s stock valued at $35,218,000 after acquiring an additional 67,204 shares during the period. Comerica Bank increased its stake in shares of FirstCash by 3.4% during the first quarter. Comerica Bank now owns 53,716 shares of the credit services provider’s stock valued at $2,796,000 after acquiring an additional 1,784 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of FirstCash by 37.0% during the first quarter. UBS Asset Management Americas Inc. now owns 28,902 shares of the credit services provider’s stock valued at $1,421,000 after acquiring an additional 7,810 shares during the period. Karp Capital Management Corp acquired a new position in shares of FirstCash during the first quarter valued at approximately $569,000. Finally, Ameriprise Financial Inc. increased its stake in shares of FirstCash by 3.5% during the first quarter. Ameriprise Financial Inc. now owns 441,361 shares of the credit services provider’s stock valued at $21,692,000 after acquiring an additional 14,965 shares during the period.
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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