Wedbush Raises FirstCash Inc (FCFS) Price Target to $66.00
FirstCash Inc (NASDAQ:FCFS) had its price target raised by Wedbush from $62.00 to $66.00 in a research report report published on Thursday, Marketbeat.com reports. The brokerage currently has an outperform rating on the credit services provider’s stock. Wedbush also issued estimates for FirstCash’s Q3 2017 earnings at $0.61 EPS and Q4 2017 earnings at $0.85 EPS.
A number of other equities research analysts also recently weighed in on FCFS. Credit Suisse Group began coverage on shares of FirstCash in a research note on Wednesday. They set an outperform rating and a $73.00 price target on the stock. Zacks Investment Research upgraded shares of FirstCash from a hold rating to a buy rating and set a $67.00 price target on the stock in a research note on Wednesday, August 16th. Jefferies Group LLC set a $69.00 price target on shares of FirstCash and gave the stock a buy rating in a research note on Friday, August 18th. BidaskClub upgraded shares of FirstCash from a hold rating to a buy rating in a research note on Thursday, September 28th. Finally, JMP Securities lifted their price target on shares of FirstCash and gave the stock an outperform rating in a research note on Friday, July 28th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $64.00.
Shares of FirstCash (NASDAQ FCFS) traded down 0.40% during mid-day trading on Thursday, hitting $61.70. 155,748 shares of the company’s stock were exchanged. FirstCash has a 52 week low of $39.80 and a 52 week high of $63.60. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 33.41 and a beta of 0.90. The firm has a 50 day moving average price of $60.17 and a 200-day moving average price of $55.68.
FirstCash (NASDAQ:FCFS) last posted its quarterly earnings results on Thursday, July 27th. The credit services provider reported $0.52 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $416.60 million for the quarter, compared to the consensus estimate of $410.65 million. During the same quarter in the previous year, the company earned $0.51 earnings per share. The business’s revenue was up 128.9% compared to the same quarter last year. On average, equities analysts anticipate that FirstCash will post $2.65 EPS for the current year.
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Several hedge funds and other institutional investors have recently modified their holdings of the business. Piedmont Investment Advisors LLC bought a new position in shares of FirstCash during the second quarter valued at $609,000. Sterling Capital Management LLC lifted its holdings in shares of FirstCash by 56.4% during the second quarter. Sterling Capital Management LLC now owns 28,057 shares of the credit services provider’s stock valued at $1,636,000 after acquiring an additional 10,115 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in shares of FirstCash by 1.2% during the second quarter. Ameritas Investment Partners Inc. now owns 4,160 shares of the credit services provider’s stock valued at $242,000 after acquiring an additional 50 shares during the period. Earnest Partners LLC lifted its holdings in shares of FirstCash by 1.5% during the second quarter. Earnest Partners LLC now owns 1,451,425 shares of the credit services provider’s stock valued at $84,618,000 after acquiring an additional 21,038 shares during the period. Finally, State Street Corp lifted its holdings in shares of FirstCash by 2.9% during the second quarter. State Street Corp now owns 1,148,454 shares of the credit services provider’s stock valued at $66,961,000 after acquiring 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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