FirstCash Inc (FCFS) Issues Earnings Results

FirstCash Inc (NASDAQ:FCFS) issued its quarterly earnings results on Thursday. The credit services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01, Bloomberg Earnings reports. FirstCash had a return on equity of 4.10% and a net margin of 3.66%. The firm had revenue of $435.40 million for the quarter, compared to analyst estimates of $418.57 million. During the same period last year, the company earned $0.58 EPS. The firm’s quarterly revenue was up 66.7% on a year-over-year basis. FirstCash updated its FY17 guidance to $2.60-2.70 EPS.

FirstCash (FCFS) traded up 2.55% during trading on Friday, hitting $64.45. The stock had a trading volume of 270,390 shares. The company has a 50 day moving average of $60.73 and a 200-day moving average of $57.02. FirstCash has a 12-month low of $39.80 and a 12-month high of $64.85. The company has a market cap of $3.08 billion, a P/E ratio of 34.89 and a beta of 0.90.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, November 13th will be paid a $0.20 dividend. This is a positive change from FirstCash’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Friday, November 10th. FirstCash’s payout ratio is currently 25.38%.

A number of brokerages have issued reports on FCFS. BidaskClub raised FirstCash from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Credit Suisse Group initiated coverage on FirstCash in a research note on Wednesday, October 4th. They issued an “outperform” rating and a $73.00 price objective on the stock. Wedbush lifted their price objective on FirstCash from $62.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, October 5th. Zacks Investment Research lowered FirstCash from a “buy” rating to a “hold” rating in a research note on Wednesday, September 27th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $73.00 price objective on shares of FirstCash in a research note on Thursday, October 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $64.57.

FirstCash declared that its board has authorized a stock repurchase plan on Thursday, October 26th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the credit services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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About FirstCash

FirstCash, Inc, formerly First Cash Financial Services, Inc, is an operator of retail-based pawn stores in the United States and Latin America. The Company’s primary business is the operation of full-service pawn stores, which make small pawn loans secured by personal property, such as consumer electronics, jewelry, power tools, household appliances, sporting goods and musical instruments.

Earnings History for FirstCash (NASDAQ:FCFS)

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