Shares of FirstCash Inc (NYSE:FCFS) have been given an average recommendation of “Buy” by the seven brokerages that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $95.75.
Several equities analysts recently issued reports on the company. Barclays assumed coverage on FirstCash in a report on Wednesday, September 26th. They issued an “overweight” rating and a $95.00 price target on the stock. Zacks Investment Research cut FirstCash from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. ValuEngine cut FirstCash from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. Finally, Wedbush upgraded FirstCash from a “neutral” rating to an “outperform” rating and set a $90.00 price target on the stock in a report on Friday, October 26th.
A number of institutional investors and hedge funds have recently modified their holdings of FCFS. CAPROCK Group Inc. bought a new position in FirstCash during the second quarter worth about $200,000. Acadian Asset Management LLC bought a new position in FirstCash during the second quarter worth about $205,000. Jane Street Group LLC bought a new position in FirstCash during the first quarter worth about $229,000. Granahan Investment Management Inc. MA bought a new position in FirstCash during the second quarter worth about $252,000. Finally, Tocqueville Asset Management L.P. bought a new position in FirstCash during the second quarter worth about $259,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.
FirstCash stock traded up $1.57 during mid-day trading on Thursday, hitting $82.19. The stock had a trading volume of 280,013 shares, compared to its average volume of 282,585. FirstCash has a 12 month low of $62.65 and a 12 month high of $95.40.
FirstCash (NYSE:FCFS) last posted its quarterly earnings results on Thursday, October 25th. The credit services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.01. The firm had revenue of $429.88 million during the quarter, compared to the consensus estimate of $440.46 million.
FirstCash declared that its Board of Directors has initiated a share buyback program on Thursday, July 26th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the credit services provider to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. This is a boost from FirstCash’s previous quarterly dividend of $0.22.
FirstCash Company Profile
FirstCash, Inc operates retail-based pawn and consumer finance stores in the United States and Mexico. Its pawn stores lend money on the collateral of pledged personal property, including consumer electronics, jewelry, power tools, household appliances, sporting goods, and musical instruments; and retails previously owned merchandise acquired through pawn forfeitures, as well as through purchases from the general public.
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