FirstCash (NASDAQ:FCFS) Announces Quarterly Earnings Results, Beats Estimates By $0.10 EPS

FirstCash (NASDAQ:FCFS) released its earnings results on Thursday. The company reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.10, Briefing.com reports. FirstCash had a return on equity of 17.44% and a net margin of 8.88%.The company’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.12 earnings per share.

FirstCash Stock Up 4.8%

FCFS traded up $8.22 during trading on Thursday, reaching $180.14. The company had a trading volume of 177,496 shares, compared to its average volume of 255,353. The company has a market cap of $7.95 billion, a P/E ratio of 26.18 and a beta of 0.49. FirstCash has a 12 month low of $109.51 and a 12 month high of $180.00. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.99 and a quick ratio of 3.72. The business’s fifty day moving average price is $164.08 and its 200 day moving average price is $153.54.

FirstCash announced that its Board of Directors has approved a stock repurchase program on Thursday, October 30th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FCFS shares. Canaccord Genuity Group reissued a “buy” rating and set a $205.00 price target on shares of FirstCash in a research note on Monday, December 8th. TD Cowen reissued a “buy” rating on shares of FirstCash in a research note on Friday, October 31st. Zacks Research lowered FirstCash from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of FirstCash in a report on Monday, December 29th. Finally, Wall Street Zen lowered FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 10th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, FirstCash has a consensus rating of “Moderate Buy” and an average target price of $167.00.

Insider Buying and Selling at FirstCash

In related news, COO Thomas Brent Stuart sold 10,000 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $159.97, for a total value of $1,599,700.00. Following the sale, the chief operating officer directly owned 127,724 shares of the company’s stock, valued at approximately $20,432,008.28. The trade was a 7.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Howard F. Hambleton sold 4,000 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $163.74, for a total transaction of $654,960.00. Following the completion of the transaction, the insider directly owned 26,581 shares of the company’s stock, valued at approximately $4,352,372.94. The trade was a 13.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 41,000 shares of company stock valued at $6,481,395 over the last quarter. 2.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FirstCash

Institutional investors have recently bought and sold shares of the company. Numerai GP LLC bought a new position in shares of FirstCash in the 3rd quarter valued at about $230,000. Glenmede Investment Management LP boosted its position in FirstCash by 5.7% during the third quarter. Glenmede Investment Management LP now owns 2,305 shares of the company’s stock valued at $365,000 after purchasing an additional 125 shares during the last quarter. State of Wyoming grew its stake in FirstCash by 213.9% in the second quarter. State of Wyoming now owns 1,692 shares of the company’s stock valued at $229,000 after purchasing an additional 1,153 shares in the last quarter. Two Sigma Securities LLC acquired a new position in shares of FirstCash during the 2nd quarter worth approximately $368,000. Finally, Oxford Asset Management LLP acquired a new stake in shares of FirstCash in the 2nd quarter valued at approximately $333,000. Institutional investors own 80.30% of the company’s stock.

About FirstCash

FirstCash, Inc (NASDAQ: FCFS) is a leading integrated operator of pawn stores and provider of short-term consumer loan services in the United States and Mexico. Through its retail pawn outlets, FirstCash offers collateral-based loans secured by personal property, enabling customers to access liquidity without a credit history or traditional bank account. The company also purchases, trades and sells a broad range of secondhand merchandise, including electronics, jewelry and power tools, through its network of conveniently located stores.

In addition to its pawn-broking activities, FirstCash provides unsecured consumer loans designed to meet urgent cash needs.