FirstCash (NASDAQ:FCFS) Shares Down 7.9% – What’s Next?

FirstCash Holdings, Inc. (NASDAQ:FCFS)’s stock price dropped 7.9% during mid-day trading on Wednesday . The company traded as low as $211.71 and last traded at $211.1930. Approximately 285,466 shares traded hands during trading, a decline of 12% from the average daily volume of 324,229 shares. The stock had previously closed at $229.35.

Wall Street Analysts Forecast Growth

FCFS has been the subject of a number of recent analyst reports. Weiss Ratings lowered shares of FirstCash from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, April 27th. Zacks Research upgraded shares of FirstCash from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 29th. Canaccord Genuity Group upped their price target on shares of FirstCash from $242.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. TD Cowen upped their price target on shares of FirstCash from $205.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Finally, Wall Street Zen lowered shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $198.00.

FirstCash Trading Up 3.2%

The stock’s 50-day simple moving average is $215.96 and its two-hundred day simple moving average is $188.84. The company has a debt-to-equity ratio of 0.98, a current ratio of 4.77 and a quick ratio of 3.42. The firm has a market capitalization of $9.57 billion, a P/E ratio of 27.37 and a beta of 0.52.

FirstCash (NASDAQ:FCFS) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.39. FirstCash had a return on equity of 18.68% and a net margin of 9.15%.The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the previous year, the firm earned $2.07 EPS. The firm’s revenue was up 25.7% compared to the same quarter last year. Equities research analysts expect that FirstCash Holdings, Inc. will post 11.3 EPS for the current year.

FirstCash Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.68 dividend on an annualized basis and a yield of 0.8%. FirstCash’s payout ratio is currently 21.05%.

Insider Buying and Selling

In related news, insider Howard F. Hambleton sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $226.41, for a total value of $679,230.00. Following the transaction, the insider directly owned 32,406 shares of the company’s stock, valued at approximately $7,337,042.46. The trade was a 8.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paula K. Garrett sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $217.40, for a total value of $326,100.00. Following the completion of the transaction, the director directly owned 6,564 shares in the company, valued at approximately $1,427,013.60. This represents a 18.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 27,500 shares of company stock worth $6,243,104 in the last quarter. 2.86% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FCFS. Harbor Investment Advisory LLC purchased a new position in FirstCash in the 1st quarter worth approximately $26,000. Rothschild Investment LLC raised its holdings in shares of FirstCash by 127.8% during the 3rd quarter. Rothschild Investment LLC now owns 180 shares of the company’s stock worth $29,000 after acquiring an additional 101 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of FirstCash during the 1st quarter worth approximately $29,000. CIBC Private Wealth Group LLC raised its holdings in shares of FirstCash by 490.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 195 shares of the company’s stock worth $31,000 after acquiring an additional 162 shares in the last quarter. Finally, Community Bank N.A. purchased a new stake in shares of FirstCash during the 3rd quarter worth approximately $32,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

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.