FirstCash (NASDAQ:FCFS) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of FirstCash (NASDAQ:FCFS) from a hold rating to a sell rating in a research report released on Monday 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. “

Shares of FirstCash stock opened at $58.68 on Monday. The business has a fifty day simple moving average of $63.69 and a two-hundred day simple moving average of $63.52. The firm has a market capitalization of $2.43 billion, a P/E ratio of 19.37 and a beta of 0.75. The company has a current ratio of 2.84, a quick ratio of 2.01 and a debt-to-equity ratio of 0.40. FirstCash has a 12 month low of $51.15 and a 12 month high of $87.68.

FirstCash (NASDAQ:FCFS) last announced its earnings results on Thursday, January 28th. The company reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.02. The business had revenue of $392.16 million during the quarter, compared to the consensus estimate of $390.53 million. FirstCash had a net margin of 7.37% and a return on equity of 11.48%. The business’s revenue for the quarter was down 21.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.27 earnings per share. Analysts predict that FirstCash will post 2.99 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 26th. Investors of record on Friday, February 12th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Thursday, February 11th. FirstCash’s payout ratio is 27.76%.

A number of institutional investors have recently modified their holdings of FCFS. O Shaughnessy Asset Management LLC purchased a new stake in shares of FirstCash during the third quarter valued at approximately $28,000. Acadian Asset Management LLC purchased a new stake in FirstCash during the 3rd quarter valued at $65,000. Fifth Third Bancorp boosted its stake in FirstCash by 12.8% during the 3rd quarter. Fifth Third Bancorp now owns 3,399 shares of the company’s stock valued at $194,000 after purchasing an additional 387 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of FirstCash in the 3rd quarter worth $239,000. Finally, Dupont Capital Management Corp raised its stake in shares of FirstCash by 64.8% in the fourth quarter. Dupont Capital Management Corp now owns 4,291 shares of the company’s stock worth $301,000 after purchasing an additional 1,688 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

About FirstCash

FirstCash, Inc, together with its subsidiaries, operates retail pawn stores in the United States and Latin America. Its pawn stores lend money on the collateral of pledged personal property, including jewelry, electronics, tools, appliances, sporting goods, and musical instruments; and retails merchandise acquired through collateral forfeitures on forfeited pawn loans and over-the-counter purchases of merchandise directly from customers.

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