Wedbush Brokers Lower Earnings Estimates for FirstCash Inc (FCFS)
FirstCash Inc (NASDAQ:FCFS) – Equities research analysts at Wedbush dropped their Q3 2017 earnings per share estimates for shares of FirstCash in a research note issued on Thursday. Wedbush analyst H. Coffey now anticipates that the credit services provider will earn $0.61 per share for the quarter, down from their previous forecast of $0.66. Wedbush currently has a “Outperform” rating and a $66.00 price target on the stock. Wedbush also issued estimates for FirstCash’s Q4 2017 earnings at $0.85 EPS.
A number of other research firms have also recently weighed in on FCFS. BidaskClub cut FirstCash from a “buy” rating to a “hold” rating in a research note on Friday. JMP Securities increased their price objective on FirstCash and gave the stock an “outperform” rating in a research report on Friday, July 28th. Zacks Investment Research cut FirstCash from a “buy” rating to a “hold” rating in a research report on Tuesday, September 5th. Finally, Jefferies Group LLC set a $69.00 price objective on FirstCash and gave the stock a “buy” rating in a research report on Friday, August 18th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $64.00.
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Shares of FirstCash (NASDAQ:FCFS) opened at 61.70 on Friday. FirstCash has a 52 week low of $39.80 and a 52 week high of $63.60. The stock has a 50 day moving average of $60.17 and a 200 day moving average of $55.68. The firm has a market cap of $2.94 billion, a P/E ratio of 33.41 and a beta of 0.90.
FirstCash (NASDAQ:FCFS) last announced its quarterly earnings data on Thursday, July 27th. The credit services provider reported $0.52 earnings per share (EPS) for the quarter, topping 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%. FirstCash’s quarterly revenue was up 128.9% on a year-over-year basis. During the same quarter last year, the company posted $0.51 earnings per share.
A number of hedge funds have recently bought and sold shares of the business. Piedmont Investment Advisors LLC bought a new position in FirstCash during the 2nd quarter worth $609,000. Sterling Capital Management LLC increased its position in FirstCash by 56.4% during the 2nd quarter. Sterling Capital Management LLC now owns 28,057 shares of the credit services provider’s stock worth $1,636,000 after buying an additional 10,115 shares during the period. Ameritas Investment Partners Inc. increased its position in FirstCash by 1.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,160 shares of the credit services provider’s stock worth $242,000 after buying an additional 50 shares during the period. Earnest Partners LLC increased its position in FirstCash by 1.5% during the 2nd quarter. Earnest Partners LLC now owns 1,451,425 shares of the credit services provider’s stock worth $84,618,000 after buying an additional 21,038 shares during the period. Finally, State Street Corp increased its position in FirstCash by 2.9% during the 2nd quarter. State Street Corp now owns 1,148,454 shares of the credit services provider’s stock worth $66,961,000 after buying an additional 32,239 shares during the period.
FirstCash Company Profile
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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