FirstCash Inc (FCFS) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of FirstCash Inc (NASDAQ:FCFS) from a hold rating to a buy rating in a report published on Thursday morning. Zacks Investment Research currently has $65.00 price objective on the credit services provider’s stock.
According to Zacks, “FirstCash Inc. is an operator of pawn stores. The company focuses on serving cash and credit constrained consumers through its retail pawn locations, which buy and sell jewelry, consumer electronics, power tools, household appliances, sporting goods, musical instruments and other merchandise. It operates primarily in the U.S., Mexico, Guatemala and El Salvador. FirstCash, Inc., formerly known as First Cash Financial Services Inc., is based in Arlington, United States. “
A number of other analysts also recently issued reports on the stock. Stephens increased their price target on shares of FirstCash from $51.00 to $62.00 and gave the stock an equal weight rating in a report on Wednesday, June 21st. Wedbush upped their price objective on shares of FirstCash from $55.00 to $60.00 and gave the stock an outperform rating in a research report on Wednesday, May 24th. BidaskClub upgraded shares of FirstCash from a buy rating to a strong-buy rating in a research report on Tuesday, June 27th. CL King cut shares of FirstCash from a strong-buy rating to a buy rating in a research report on Thursday, July 27th. Finally, Janney Montgomery Scott cut shares of FirstCash from a buy rating to a neutral rating and reduced their target price for the company from $58.55 to $58.00 in a research report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The stock has an average rating of Buy and an average price target of $61.00.
FirstCash (NASDAQ FCFS) opened at 59.80 on Thursday. FirstCash has a 52 week low of $39.80 and a 52 week high of $60.75. The stock’s 50 day moving average is $58.77 and its 200 day moving average is $53.79. The stock has a market cap of $2.85 billion, a PE ratio of 32.38 and a beta of 0.90.
FirstCash (NASDAQ:FCFS) last released its quarterly earnings data on Thursday, July 27th. The credit services provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.47 by $0.05. The business had revenue of $416.60 million for the quarter, compared to the consensus estimate of $410.65 million. FirstCash had a net margin of 3.66% and a return on equity of 4.10%. The business’s revenue for the quarter was up 128.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 EPS. Analysts predict that FirstCash will post $2.66 EPS for the current year.
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The business also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend was Friday, August 11th. FirstCash’s dividend payout ratio (DPR) is presently 25.38%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Chevy Chase Trust Holdings Inc. boosted its stake in shares of FirstCash by 0.3% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 4,394 shares of the credit services provider’s stock valued at $256,000 after purchasing an additional 12 shares during the period. Ameritas Investment Partners Inc. boosted its stake in shares of FirstCash by 1.2% in the second quarter. Ameritas Investment Partners Inc. now owns 4,160 shares of the credit services provider’s stock valued at $242,000 after purchasing an additional 50 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of FirstCash by 0.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 32,077 shares of the credit services provider’s stock valued at $1,870,000 after purchasing an additional 83 shares during the period. HL Financial Services LLC boosted its stake in shares of FirstCash by 2.2% in the second quarter. HL Financial Services LLC now owns 4,237 shares of the credit services provider’s stock valued at $247,000 after purchasing an additional 91 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in shares of FirstCash by 0.3% in the second quarter. Nisa Investment Advisors LLC now owns 29,848 shares of the credit services provider’s stock valued at $1,740,000 after purchasing an additional 100 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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