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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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.
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