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

FirstCash (NASDAQ:FCFS) posted 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 business’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.12 earnings per share.

FirstCash Stock Performance

Shares of NASDAQ FCFS traded up $7.53 during mid-day trading on Thursday, hitting $179.45. The stock had a trading volume of 212,069 shares, compared to its average volume of 256,859. The firm has a market cap of $7.92 billion, a PE ratio of 26.04 and a beta of 0.49. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.72 and a current ratio of 4.99. The company has a 50 day moving average of $164.08 and a two-hundred day moving average of $153.54. FirstCash has a twelve month low of $109.51 and a twelve month high of $181.00.

Insider Activity at FirstCash

In related news, COO Thomas Brent Stuart sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer owned 127,724 shares in the company, valued at approximately $20,432,008.28. This represents a 7.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rick L. Wessel sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $156.39, for a total transaction of $3,127,800.00. Following the transaction, the chief executive officer directly owned 866,982 shares of the company’s stock, valued at $135,587,314.98. This represents a 2.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 41,000 shares of company stock worth $6,481,395 in the last quarter. 2.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Danske Bank A S purchased a new position in FirstCash during the third quarter worth approximately $48,000. Larson Financial Group LLC raised its stake in shares of FirstCash by 80.1% during the 3rd quarter. Larson Financial Group LLC now owns 816 shares of the company’s stock worth $129,000 after buying an additional 363 shares during the period. Osaic Holdings Inc. lifted its position in shares of FirstCash by 79.0% during the 2nd quarter. Osaic Holdings Inc. now owns 1,278 shares of the company’s stock valued at $173,000 after buying an additional 564 shares in the last quarter. Cerity Partners LLC purchased a new position in shares of FirstCash during the 2nd quarter valued at approximately $219,000. Finally, Shelton Capital Management purchased a new stake in FirstCash in the 3rd quarter worth $224,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

FirstCash announced that its Board of Directors has authorized a share repurchase plan on Thursday, October 30th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

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

FirstCash Company Profile

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.