FirstCash (NASDAQ:FCFS) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

FirstCash (NASDAQ:FCFS) announced its quarterly earnings results on Thursday. The company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.05, Zacks reports. FirstCash had a return on equity of 19.65% and a net margin of 9.42%. During the same quarter in the prior year, the company earned $1.86 earnings per share. FirstCash’s quarterly revenue was up 17.7% on a year-over-year basis.

FirstCash Stock Performance

Shares of NASDAQ FCFS traded down $31.59 during mid-day trading on Thursday, hitting $185.16. The company had a trading volume of 162,197 shares, compared to its average volume of 374,880. The company has a current ratio of 4.89, a quick ratio of 3.51 and a debt-to-equity ratio of 1.01. FirstCash has a 1 year low of $146.77 and a 1 year high of $238.93. The company has a market capitalization of $8.03 billion, a price-to-earnings ratio of 20.91 and a beta of 0.55. The stock’s 50-day moving average price is $217.83 and its 200-day moving average price is $216.41.

Insider Buying and Selling

In related news, CFO R. Orr sold 2,000 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $216.00, for a total transaction of $432,000.00. Following the sale, the chief financial officer owned 34,734 shares of the company’s stock, valued at approximately $7,502,544. This represents a 5.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Thomas Stuart sold 5,348 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $214.63, for a total value of $1,147,841.24. Following the completion of the transaction, the chief operating officer owned 135,498 shares of the company’s stock, valued at approximately $29,081,935.74. This represents a 3.80% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 14,098 shares of company stock worth $3,051,281. Company insiders own 2.86% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on FCFS shares. Canaccord Genuity Group upped their price objective on shares of FirstCash from $252.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, October 15th. TD Cowen lifted their target price on shares of FirstCash from $240.00 to $242.00 and gave the stock a “buy” rating in a research note on Tuesday, October 6th. Loop Capital upgraded shares of FirstCash from a “hold” rating to a “buy” rating and set a $255.00 target price for the company in a research note on Monday, August 10th. Weiss Ratings raised shares of FirstCash from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Finally, Stephens restated an “overweight” rating and set a $250.00 price target on shares of FirstCash in a research note on Thursday, October 1st. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $253.00.

FirstCash Company Profile

FirstCash Holdings, Inc is a specialty financial services and retail company that operates pawn stores in the United States and Mexico. Through its pawn operations, the company provides short-term, collateral-backed loans to consumers who pledge personal property as security. Customers can reclaim their pledged items by repaying the loan and applicable fees within the required period.

The company also generates revenue by selling merchandise that has been forfeited on pawn loans or acquired through other purchasing activities.