FirstCash Inc Forecasted to Post FY2019 Earnings of $3.85 Per Share (FCFS)

FirstCash Inc (NYSE:FCFS) – Research analysts at Wedbush lifted their FY2019 EPS estimates for shares of FirstCash in a report released on Wednesday. Wedbush analyst H. Coffey now expects that the credit services provider will post earnings of $3.85 per share for the year, up from their prior forecast of $3.75. Wedbush has a “Buy” rating and a $75.00 price objective on the stock.

FirstCash (NYSE:FCFS) last announced its quarterly earnings results on Thursday, October 26th. The credit services provider reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. FirstCash had a return on equity of 8.45% and a net margin of 6.41%. The firm had revenue of $435.40 million for the quarter, compared to analysts’ expectations of $418.57 million. During the same period in the prior year, the business posted $0.58 earnings per share. The company’s revenue was up 66.7% on a year-over-year basis.

Other research analysts have also issued research reports about the company. Jefferies Group reissued a “buy” rating and set a $73.00 price objective on shares of FirstCash in a report on Thursday, October 12th. Zacks Investment Research raised FirstCash from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Thursday, September 21st. Finally, BidaskClub raised FirstCash from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. FirstCash has an average rating of “Buy” and a consensus target price of $67.43.

Shares of FirstCash (NYSE FCFS) traded down $0.05 during midday trading on Friday, hitting $70.45. The stock had a trading volume of 162,195 shares, compared to its average volume of 255,394. FirstCash has a 52 week low of $39.80 and a 52 week high of $70.90. The company has a quick ratio of 4.30, a current ratio of 6.57 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $3,320.00 and a price-to-earnings ratio of 30.24.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Earnest Partners LLC grew its holdings in shares of FirstCash by 1.6% during the third quarter. Earnest Partners LLC now owns 1,474,115 shares of the credit services provider’s stock worth $93,090,000 after purchasing an additional 22,690 shares in the last quarter. Grandeur Peak Global Advisors LLC purchased a new stake in FirstCash in the third quarter worth approximately $54,801,000. California Public Employees Retirement System boosted its stake in FirstCash by 3.9% in the third quarter. California Public Employees Retirement System now owns 166,423 shares of the credit services provider’s stock worth $10,510,000 after buying an additional 6,211 shares in the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new stake in FirstCash in the third quarter worth approximately $1,736,000. Finally, Insight Capital Research & Management Inc. purchased a new stake in FirstCash in the third quarter worth approximately $913,000. 95.69% of the stock is owned by institutional investors.

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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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