FirstCash (NYSE:FCFS) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of FirstCash (NYSE:FCFS) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

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. “

Separately, Wedbush downgraded shares of FirstCash from an outperform rating to a neutral rating in a research report on Friday, July 24th.

FCFS stock opened at $57.64 on Wednesday. FirstCash has a 12-month low of $57.08 and a 12-month high of $105.00. The company has a 50 day moving average of $65.89 and a two-hundred day moving average of $73.88.

FirstCash (NYSE:FCFS) last released its earnings results on Wednesday, July 22nd. The credit services provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. The company had revenue of $412.75 million during the quarter, compared to analysts’ expectations of $436.55 million. During the same quarter in the previous year, the company earned $0.82 EPS. The firm’s quarterly revenue was down 7.5% compared to the same quarter last year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.27 per share. The ex-dividend date is Thursday, August 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.87%.

Several institutional investors have recently added to or reduced their stakes in the company. Profund Advisors LLC raised its holdings in shares of FirstCash by 3.2% during the 4th quarter. Profund Advisors LLC now owns 4,547 shares of the credit services provider’s stock valued at $367,000 after purchasing an additional 140 shares in the last quarter. Mason Street Advisors LLC raised its holdings in shares of FirstCash by 0.8% during the 4th quarter. Mason Street Advisors LLC now owns 22,700 shares of the credit services provider’s stock valued at $1,830,000 after purchasing an additional 169 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of FirstCash by 4.6% during the 1st quarter. State of Alaska Department of Revenue now owns 7,340 shares of the credit services provider’s stock valued at $526,000 after purchasing an additional 320 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of FirstCash by 93.7% during the 1st quarter. Parkside Financial Bank & Trust now owns 711 shares of the credit services provider’s stock valued at $51,000 after purchasing an additional 344 shares in the last quarter. Finally, First Bank & Trust raised its holdings in shares of FirstCash by 44.4% during the 1st quarter. First Bank & Trust now owns 1,372 shares of the credit services provider’s stock valued at $98,000 after purchasing an additional 422 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

About FirstCash

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.

See Also: What is the Dow Jones Industrial Average (DJIA)?

Get a free copy of the Zacks research report on FirstCash (FCFS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for FirstCash Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstCash and related companies with MarketBeat.com's FREE daily email newsletter.