FirstCash (NASDAQ:FCFS) Releases Earnings Results

FirstCash (NASDAQ:FCFS) announced its quarterly earnings data on Thursday. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.39 by $0.11, Zacks reports. FirstCash had a return on equity of 18.68% and a net margin of 9.15%.During the same period in the prior year, the company posted $1.34 earnings per share. FirstCash’s quarterly revenue was up 29.4% compared to the same quarter last year.

FirstCash Price Performance

NASDAQ FCFS traded down $11.30 during trading on Thursday, reaching $197.44. 189,822 shares of the company traded hands, compared to its average volume of 360,998. FirstCash has a 1-year low of $119.21 and a 1-year high of $235.97. The company has a market cap of $8.66 billion, a price-to-earnings ratio of 24.78 and a beta of 0.53. The stock’s 50 day moving average price is $220.78 and its two-hundred day moving average price is $200.84. The company has a debt-to-equity ratio of 0.98, a quick ratio of 3.42 and a current ratio of 4.77.

Insiders Place Their Bets

In related news, COO Thomas Brent Stuart sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $228.49, for a total transaction of $2,284,900.00. Following the completion of the transaction, the chief operating officer owned 140,846 shares in the company, valued at $32,181,902.54. This trade represents a 6.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Raul Ramos sold 6,835 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $225.23, for a total value of $1,539,447.05. Following the transaction, the senior vice president owned 20,400 shares of the company’s stock, valued at $4,594,692. This trade represents a 25.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 27,500 shares of company stock worth $6,243,104 in the last 90 days. 2.86% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FCFS. CIBC Private Wealth Group LLC grew its holdings in shares of FirstCash by 490.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 195 shares of the company’s stock worth $31,000 after purchasing an additional 162 shares during the last quarter. Danske Bank A S bought a new position in FirstCash during the 3rd quarter valued at about $48,000. Global Retirement Partners LLC lifted its holdings in FirstCash by 6,200.0% during the 4th quarter. Global Retirement Partners LLC now owns 315 shares of the company’s stock valued at $50,000 after purchasing an additional 310 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in FirstCash by 154.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 559 shares of the company’s stock valued at $90,000 after buying an additional 339 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in FirstCash by 80.1% in the third quarter. Larson Financial Group LLC now owns 816 shares of the company’s stock valued at $129,000 after buying an additional 363 shares in the last quarter. 80.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on FCFS shares. Canaccord Genuity Group boosted their price objective on FirstCash from $242.00 to $252.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Weiss Ratings cut FirstCash from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, April 27th. Zacks Research downgraded shares of FirstCash from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. TD Cowen boosted their price target on shares of FirstCash from $235.00 to $240.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Finally, Wall Street Zen cut shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $199.25.

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.