First Advantage (NYSE:FA) Updates FY24 Earnings Guidance

First Advantage (NYSE:FA) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.88 to $0.98 for the period, compared to the consensus earnings per share estimate of $0.93. The company issued revenue guidance of $750 million to $800 million, compared to the consensus revenue estimate of $771.99 million. First Advantage also updated its FY 2024 guidance to 0.880-0.980 EPS.

First Advantage Trading Down 1.1 %

NYSE FA traded down $0.19 on Friday, hitting $16.98. 498,098 shares of the stock were exchanged, compared to its average volume of 432,819. 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 stock has a fifty day moving average price of $16.41 and a two-hundred day moving average price of $16.30. The firm has a market capitalization of $2.47 billion, a P/E ratio of 77.18, a P/E/G ratio of 3.27 and a beta of 1.14. First Advantage has a 52-week low of $12.46 and a 52-week high of $17.49.

First Advantage (NYSE:FA) last posted its quarterly earnings data 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 company had revenue of $184.55 million during the quarter, compared to analyst estimates of $184.66 million. During the same period in the previous year, the firm earned $0.24 earnings per share. First Advantage’s quarterly revenue was down .4% compared to the same quarter last year. Research analysts forecast that First Advantage will post 0.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity at First Advantage

In related news, insider Joseph K. Jaeger sold 7,331 shares of First Advantage stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $16.08, for a total value of $117,882.48. Following the completion of the sale, the insider now directly owns 688,967 shares in the company, valued at $11,078,589.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other First Advantage news, insider Joseph K. Jaeger sold 7,331 shares of the business’s 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 completion of the transaction, the insider now directly owns 688,967 shares in the company, valued at $11,078,589.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Lindsey Clark sold 2,100 shares of the business’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 $664,509.96. The disclosure for this sale can be found here. Insiders sold 15,034 shares of company stock worth $241,439 over the last three months. 5.30% of the stock is owned by corporate insiders.

First Advantage Company Profile

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.