FirstCash Inc (NYSE:FCFS) – Stock analysts at Jefferies Financial Group boosted their FY2018 EPS estimates for FirstCash in a research note issued on Thursday, October 25th. Jefferies Financial Group analyst J. Hecht now anticipates that the credit services provider will post earnings per share of $3.48 for the year, up from their previous forecast of $3.45. Jefferies Financial Group also issued estimates for FirstCash’s Q4 2018 earnings at $1.07 EPS, Q1 2019 earnings at $0.93 EPS, Q2 2019 earnings at $0.81 EPS, Q3 2019 earnings at $0.98 EPS, Q4 2019 earnings at $1.23 EPS and FY2019 earnings at $3.95 EPS.
Several other equities research analysts have also recently issued reports on FCFS. Wedbush upgraded shares of FirstCash from a “neutral” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research report on Friday. ValuEngine cut shares of FirstCash from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Barclays initiated coverage on shares of FirstCash in a research report on Wednesday, September 26th. They set an “overweight” rating and a $95.00 price objective on the stock. Finally, Zacks Investment Research cut shares of FirstCash from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $93.17.
FirstCash (NYSE:FCFS) last released its earnings results on Thursday, October 25th. The credit services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.01. FirstCash had a net margin of 9.40% and a return on equity of 10.32%. The company had revenue of $429.88 million for the quarter, compared to analysts’ expectations of $440.46 million.
Several institutional investors have recently added to or reduced their stakes in FCFS. Sei Investments Co. raised its position in shares of FirstCash by 50.6% during the first quarter. Sei Investments Co. now owns 7,930 shares of the credit services provider’s stock valued at $644,000 after buying an additional 2,666 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in shares of FirstCash during the first quarter valued at approximately $901,000. Jane Street Group LLC bought a new stake in shares of FirstCash during the first quarter valued at approximately $229,000. Legal & General Group Plc raised its position in shares of FirstCash by 6.4% during the first quarter. Legal & General Group Plc now owns 97,744 shares of the credit services provider’s stock valued at $7,891,000 after buying an additional 5,908 shares during the last quarter. Finally, Xact Kapitalforvaltning AB raised its position in shares of FirstCash by 20.3% during the first quarter. Xact Kapitalforvaltning AB now owns 6,516 shares of the credit services provider’s stock valued at $529,000 after buying an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.
FirstCash declared that its board has authorized a share repurchase plan on Thursday, July 26th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the credit services provider to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Thursday, November 15th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.30%. This is a boost from FirstCash’s previous quarterly dividend of $0.22. FirstCash’s dividend payout ratio (DPR) is presently 32.12%.
FirstCash Company Profile
FirstCash, Inc operates retail-based pawn and consumer finance stores in the United States and Mexico. Its pawn stores lend money on the collateral of pledged personal property, including consumer electronics, jewelry, power tools, household appliances, sporting goods, and musical instruments; and retails previously owned merchandise acquired through pawn forfeitures, as well as through purchases from the general public.
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