FirstCash (NASDAQ:FCFS) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

FirstCash (NASDAQ:FCFS) released its quarterly earnings results on Thursday. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.05, Briefing.com reports. The company had revenue of $831.00 million for the quarter, compared to analysts’ expectations of $824.87 million. FirstCash had a return on equity of 14.90% and a net margin of 7.17%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.22 earnings per share.

FirstCash Price Performance

Shares of FCFS opened at $111.87 on Friday. FirstCash has a 52-week low of $88.05 and a 52-week high of $133.64. The company has a debt-to-equity ratio of 0.85, a quick ratio of 3.03 and a current ratio of 4.03. The business’s 50 day moving average price is $110.26 and its two-hundred day moving average price is $116.04. The firm has a market cap of $5.09 billion, a PE ratio of 21.81 and a beta of 0.62.

FirstCash Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be paid a $0.38 dividend. The ex-dividend date is Thursday, August 15th. This is a positive change from FirstCash’s previous quarterly dividend of $0.35. This represents a $1.52 annualized dividend and a yield of 1.36%. FirstCash’s payout ratio is 27.29%.

Insider Buying and Selling at FirstCash

In other FirstCash news, CFO R Douglas Orr sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $116.53, for a total value of $233,060.00. Following the transaction, the chief financial officer now directly owns 92,715 shares of the company’s stock, valued at $10,804,078.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO R Douglas Orr sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $116.53, for a total transaction of $233,060.00. Following the transaction, the chief financial officer now directly owns 92,715 shares of the company’s stock, valued at $10,804,078.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Douglas Richard Rippel sold 720,950 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $117.90, for a total value of $85,000,005.00. Following the transaction, the director now directly owns 4,746,023 shares in the company, valued at $559,556,111.70. The disclosure for this sale can be found here. Insiders own 14.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FCFS shares. Loop Capital upgraded FirstCash from a “hold” rating to a “buy” rating and boosted their price target for the stock from $125.00 to $140.00 in a report on Monday, April 29th. BTIG Research started coverage on FirstCash in a report on Friday, June 7th. They issued a “neutral” rating on the stock. Finally, TD Cowen upgraded FirstCash from a “hold” rating to a “buy” rating and upped their target price for the company from $130.00 to $145.00 in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $142.00.

About FirstCash

FirstCash Holdings, Inc, together with its subsidiaries, operates retail pawn stores in the United States, Mexico, and rest of Latin America. The company operates in three segments: U.S. Pawn, Latin America Pawn, and Retail POS Payment Solutions segments. 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.