FirstCash Inc (FCFS) Cut to “Sell” at BidaskClub
BidaskClub cut shares of FirstCash Inc (NASDAQ:FCFS) from a hold rating to a sell rating in a report released on Thursday.
Several other brokerages also recently issued reports on FCFS. JMP Securities upped their price target on shares of FirstCash and gave the company an outperform rating in a report on Friday, July 28th. Zacks Investment Research downgraded shares of FirstCash from a buy rating to a hold rating in a research note on Tuesday, September 5th. Jefferies Group LLC set a $69.00 price objective on shares of FirstCash and gave the company a buy rating in a research note on Friday, August 18th. Janney Montgomery Scott downgraded shares of FirstCash from a buy rating to a neutral rating and reduced their price objective for the company from $58.55 to $58.00 in a research note on Monday, July 17th. Finally, Stephens upped their price objective on shares of FirstCash from $51.00 to $62.00 and gave the company an equal weight rating in a research note on Wednesday, June 21st. One 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 company currently has an average rating of Buy and a consensus target price of $61.00.
Shares of FirstCash (FCFS) opened at 59.80 on Thursday. The firm has a 50-day moving average of $58.77 and a 200-day moving average of $53.79. FirstCash has a 12-month low of $39.80 and a 12-month high of $60.75. The firm 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 (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.05. FirstCash had a net margin of 3.66% and a return on equity of 4.10%. The company had revenue of $416.60 million for the quarter, compared to the consensus estimate of $410.65 million. During the same quarter in the prior year, the firm earned $0.51 earnings per share. The company’s revenue for the quarter was up 128.9% compared to the same quarter last year. On average, equities analysts forecast that FirstCash will post $2.66 earnings per share for the current fiscal year.
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The company 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. This represents a $0.76 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Friday, August 11th. FirstCash’s payout ratio is 25.38%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. purchased a new position in shares of FirstCash during the first quarter valued at approximately $351,000. OppenheimerFunds Inc. lifted its stake in shares of FirstCash by 70.6% during the first quarter. OppenheimerFunds Inc. now owns 18,926 shares of the credit services provider’s stock valued at $930,000 after buying an additional 7,835 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of FirstCash by 78.2% during the second quarter. State of Alaska Department of Revenue now owns 9,535 shares of the credit services provider’s stock valued at $555,000 after buying an additional 4,185 shares during the period. Stifel Financial Corp purchased a new position in shares of FirstCash during the first quarter valued at approximately $232,000. Finally, FMR LLC lifted its stake in shares of FirstCash by 14.4% during the first quarter. FMR LLC now owns 1,710,218 shares of the credit services provider’s stock valued at $84,057,000 after buying an additional 215,693 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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