FirstCash (NASDAQ:FCFS) Posts Earnings Results, Beats Expectations By $0.11 EPS

FirstCash (NASDAQ:FCFS) released its earnings results on Thursday. The company reported $2.50 EPS for the quarter, beating the consensus estimate 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 last year, the company earned $1.34 earnings per share. FirstCash’s revenue was up 29.4% on a year-over-year basis.

FirstCash Stock Down 6.9%

NASDAQ FCFS traded down $14.44 on Thursday, reaching $194.30. The company had a trading volume of 559,989 shares, compared to its average volume of 363,532. The firm has a market capitalization of $8.52 billion, a PE ratio of 24.35 and a beta of 0.53. The firm has a 50-day moving average of $220.78 and a 200-day moving average of $200.84. FirstCash has a 1 year low of $119.21 and a 1 year high of $235.97. The company has a debt-to-equity ratio of 0.98, a current ratio of 4.77 and a quick ratio of 3.42.

Insiders Place Their Bets

In other news, SVP Raul Ramos sold 6,835 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $225.23, for a total transaction of $1,539,447.05. Following the completion of the sale, the senior vice president directly owned 20,400 shares in the company, valued at $4,594,692. This trade represents a 25.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Howard F. Hambleton sold 3,000 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $226.41, for a total value of $679,230.00. Following the completion of the transaction, the insider owned 32,406 shares in the company, valued at approximately $7,337,042.46. This trade represents a 8.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 27,500 shares of company stock valued at $6,243,104. Corporate insiders own 2.86% of the company’s stock.

Hedge Funds Weigh In On FirstCash

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

Analyst Ratings Changes

Several analysts have commented on the company. Canaccord Genuity Group lifted their price target on FirstCash from $242.00 to $252.00 and gave the company a “buy” rating in a report on Friday, April 24th. Zacks Research cut shares of FirstCash from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Wall Street Zen downgraded shares of FirstCash from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Weiss Ratings lowered shares of FirstCash from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, April 27th. Finally, TD Cowen lifted 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. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, FirstCash presently has an average rating of “Moderate Buy” and a consensus price target of $199.25.

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.