Zacks: Analysts Expect FirstCash Inc (FCFS) Will Post Earnings of $1.09 Per Share
Equities research analysts predict that FirstCash Inc (NYSE:FCFS) will announce earnings of $1.09 per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for FirstCash’s earnings, with the lowest EPS estimate coming in at $1.07 and the highest estimate coming in at $1.10. FirstCash reported earnings per share of $0.94 during the same quarter last year, which suggests a positive year-over-year growth rate of 16%. The company is scheduled to report its next quarterly earnings report on Thursday, February 7th.
According to Zacks, analysts expect that FirstCash will report full-year earnings of $3.51 per share for the current financial year, with EPS estimates ranging from $3.48 to $3.56. For the next year, analysts expect that the business will post earnings of $4.05 per share, with EPS estimates ranging from $3.95 to $4.16. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow FirstCash.
FirstCash (NYSE:FCFS) last released its earnings results on Thursday, October 25th. The credit services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.01. The firm had revenue of $429.88 million for the quarter, compared to the consensus estimate of $440.46 million.
In other FirstCash news, CFO R Douglas Orr sold 2,500 shares of the stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $85.00, for a total transaction of $212,500.00. Following the completion of the sale, the chief financial officer now directly owns 157,500 shares of the company’s stock, valued at approximately $13,387,500. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James H. Graves sold 7,000 shares of the stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $89.11, for a total transaction of $623,770.00. Following the sale, the director now directly owns 23,597 shares of the company’s stock, valued at $2,102,728.67. The disclosure for this sale can be found here. Company insiders own 2.83% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in FCFS. FMR LLC grew its holdings in FirstCash by 202.1% during the 3rd quarter. FMR LLC now owns 712,199 shares of the credit services provider’s stock valued at $58,401,000 after buying an additional 476,471 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of FirstCash by 39.5% in the second quarter. Renaissance Technologies LLC now owns 1,347,724 shares of the credit services provider’s stock valued at $121,093,000 after purchasing an additional 381,500 shares in the last quarter. Carillon Tower Advisers Inc. grew its holdings in shares of FirstCash by 384.6% in the second quarter. Carillon Tower Advisers Inc. now owns 470,910 shares of the credit services provider’s stock valued at $42,311,000 after purchasing an additional 373,732 shares in the last quarter. BlackRock Inc. grew its holdings in shares of FirstCash by 5.6% in the second quarter. BlackRock Inc. now owns 6,376,093 shares of the credit services provider’s stock valued at $572,893,000 after purchasing an additional 337,895 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of FirstCash by 47.4% in the second quarter. Northern Trust Corp now owns 876,793 shares of the credit services provider’s stock valued at $78,779,000 after purchasing an additional 281,755 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.
NYSE FCFS opened at $78.21 on Friday. FirstCash has a 12 month low of $66.40 and a 12 month high of $95.40.
FirstCash announced that its Board of Directors has initiated a share repurchase plan on Thursday, October 25th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the credit services provider to repurchase up to 2.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Thursday, November 15th were issued a dividend of $0.25 per share. This is a positive change from FirstCash’s previous quarterly dividend of $0.22. This represents a $1.00 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date was Wednesday, November 14th.
FirstCash, Inc operates retail-based pawn and consumer finance stores in the United States and Mexico. Its pawn stores lend money on the collateral of pledged personal property, including consumer electronics, jewelry, power tools, household appliances, sporting goods, and musical instruments; and retails previously owned merchandise acquired through pawn forfeitures, as well as through purchases from the general public.
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