First Advantage (NYSE:FA) Issues FY 2024 Earnings Guidance

First Advantage (NYSE:FA) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.880-0.980 for the period, compared to the consensus earnings per share estimate of 0.930. The company issued revenue guidance of $750.0 million-$800.0 million, compared to the consensus revenue estimate of $772.0 million. First Advantage also updated its FY24 guidance to $0.88 to $0.98 EPS.

First Advantage Price Performance

First Advantage stock traded down $0.19 during midday trading on Friday, reaching $16.98. 498,098 shares of the company were exchanged, compared to its average volume of 432,819. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 77.18, a P/E/G ratio of 3.27 and a beta of 1.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 4.29 and a current ratio of 4.29. The firm’s 50-day simple moving average is $16.41 and its 200-day simple moving average is $16.30. First Advantage has a 1 year low of $12.46 and a 1 year high of $17.49.

First Advantage (NYSE:FA) last released its earnings results on Thursday, August 8th. The company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. First Advantage had a net margin of 4.28% and a return on equity of 14.12%. The firm had revenue of $184.55 million during the quarter, compared to analysts’ expectations of $184.66 million. During the same period in the previous year, the company earned $0.24 EPS. First Advantage’s revenue for the quarter was down .4% on a year-over-year basis. On average, analysts anticipate that First Advantage will post 0.83 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. William Blair assumed coverage on shares of First Advantage in a research note on Tuesday, April 23rd. They issued an outperform rating for the company. Needham & Company LLC reissued a hold rating on shares of First Advantage in a research report on Monday, May 13th. Finally, Truist Financial dropped their target price on First Advantage from $250.00 to $249.00 and set a buy rating on the stock in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $64.20.

Insider Activity at First Advantage

In other news, Director James Lindsey Clark sold 2,100 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $15.48, for a total transaction of $32,508.00. Following the sale, the director now directly owns 42,927 shares in the company, valued at approximately $664,509.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Joseph K. Jaeger sold 7,331 shares of First Advantage stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $16.08, for a total value of $117,882.48. Following the sale, the insider now directly owns 688,967 shares in the company, valued at approximately $11,078,589.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James Lindsey Clark sold 2,100 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $15.48, for a total transaction of $32,508.00. Following the completion of the transaction, the director now owns 42,927 shares of the company’s stock, valued at approximately $664,509.96. The disclosure for this sale can be found here. Insiders sold a total of 15,034 shares of company stock valued at $241,439 in the last quarter. Insiders own 5.30% of the company’s stock.

About First Advantage

First Advantage Corporation provides employment background screening, identity, and verification solutions worldwide. It offers pre-onboarding products and solutions, such as criminal background checks, drug/health screening, extended workforce screening, FBI channeling, identity checks and biometric fraud mitigation tools, education/work history verification, driver records and compliance, healthcare credentials, executive screening, and other screening products.