FirstCash Inc (NASDAQ:FCFS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “FirstCash Inc. is an operator of pawn stores. The company focuses on serving cash and credit constrained consumers through its retail pawn locations, which buy and sell jewelry, consumer electronics, power tools, household appliances, sporting goods, musical instruments and other merchandise. It operates primarily in the U.S., Mexico, Guatemala and El Salvador. FirstCash, Inc., formerly known as First Cash Financial Services Inc., is based in Arlington, United States. “
A number of other research analysts have also commented on the stock. BidaskClub lowered shares of FirstCash from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Jefferies Group LLC set a $69.00 price target on shares of FirstCash and gave the company a “buy” rating in a research note on Friday, August 18th. JMP Securities upped their price target on shares of FirstCash and gave the company an “outperform” rating in a research note on Friday, July 28th. CL King lowered shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Finally, Janney Montgomery Scott lowered shares of FirstCash from a “buy” rating to a “neutral” rating and decreased their price target for the company from $58.55 to $58.00 in a research note on Monday, July 17th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $61.00.
FirstCash (NASDAQ FCFS) traded down 0.77% during midday trading on Tuesday, hitting $58.30. 133,553 shares of the company traded hands. FirstCash has a 12-month low of $39.80 and a 12-month high of $60.75. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 31.56 and a beta of 0.90. The stock’s 50-day moving average price is $58.74 and its 200 day moving average price is $53.51.
FirstCash (NASDAQ:FCFS) last announced its quarterly earnings results on Thursday, July 27th. The credit services provider reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.05. FirstCash had a net margin of 3.66% and a return on equity of 4.10%. The business had revenue of $416.60 million for the quarter, compared to analyst estimates of $410.65 million. During the same quarter in the prior year, the business earned $0.51 EPS. FirstCash’s quarterly revenue was up 128.9% on a year-over-year basis. On average, equities analysts forecast that FirstCash will post $2.66 EPS for the current year.
FirstCash announced that its board has initiated a share buyback plan on Monday, May 15th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the credit services provider to buy up to 4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
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A number of hedge funds and other institutional investors have recently bought and sold shares of FCFS. Russell Investments Group Ltd. boosted its holdings in FirstCash by 5.6% in the 1st quarter. Russell Investments Group Ltd. now owns 239,205 shares of the credit services provider’s stock valued at $11,758,000 after purchasing an additional 12,670 shares during the period. Great West Life Assurance Co. Can boosted its holdings in FirstCash by 5.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 68,119 shares of the credit services provider’s stock valued at $3,345,000 after purchasing an additional 3,739 shares during the period. Tyers Asset Management LLC boosted its holdings in FirstCash by 14.9% in the 1st quarter. Tyers Asset Management LLC now owns 2,380 shares of the credit services provider’s stock valued at $117,000 after purchasing an additional 308 shares during the period. Flinton Capital Management LLC boosted its holdings in FirstCash by 14.9% in the 1st quarter. Flinton Capital Management LLC now owns 2,890 shares of the credit services provider’s stock valued at $142,000 after purchasing an additional 374 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in FirstCash by 10.3% in the 1st quarter. Bank of New York Mellon Corp now owns 716,521 shares of the credit services provider’s stock valued at $35,218,000 after purchasing an additional 67,204 shares during the period.
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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