FirstCash Inc (FCFS) PT Set at $69.00 by Jefferies Group LLC

Jefferies Group LLC set a $69.00 price objective on FirstCash Inc (NASDAQ:FCFS) in a research note issued to investors on Friday. The firm currently has a buy rating on the credit services provider’s stock.

A number of other brokerages also recently issued reports on FCFS. JMP Securities increased their price target on FirstCash and gave the stock an outperform rating in a research report on Friday, July 28th. Zacks Investment Research raised FirstCash from a hold rating to a buy rating and set a $65.00 price target on the stock in a research report on Tuesday, July 11th. BidaskClub raised FirstCash from a buy rating to a strong-buy rating in a research report on Tuesday, June 27th. Janney Montgomery Scott downgraded FirstCash from a buy rating to a neutral rating and reduced their price target for the stock from $58.55 to $58.00 in a research report on Monday, July 17th. Finally, Stephens increased their price target on FirstCash from $51.00 to $62.00 and gave the stock an equal weight rating in a research report on Wednesday, June 21st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of Buy and a consensus target price of $59.43.

FirstCash (NASDAQ:FCFS) opened at 59.20 on Friday. FirstCash has a 52-week low of $39.80 and a 52-week high of $60.75. The company’s 50 day moving average price is $58.55 and its 200 day moving average price is $51.99. The company has a market cap of $2.82 billion, a P/E ratio of 32.05 and a beta of 0.90.

FirstCash (NASDAQ:FCFS) last issued its quarterly earnings results on Thursday, July 27th. The credit services provider reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.05. The business had revenue of $416.60 million for the quarter, compared to the consensus estimate of $410.65 million. FirstCash had a return on equity of 8.92% and a net margin of 7.29%. The firm’s quarterly revenue was up 128.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 earnings per share. Equities research analysts anticipate that FirstCash will post $2.66 EPS for the current fiscal year.

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FirstCash announced that its board has authorized a stock repurchase program on Monday, May 15th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the credit services provider to repurchase up to 4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Friday, August 11th. FirstCash’s payout ratio is presently 25.38%.

In other FirstCash news, CFO R Douglas Orr sold 7,500 shares of the company’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $55.00, for a total transaction of $412,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

A number of large investors have recently added to or reduced their stakes in the company. Chevy Chase Trust Holdings Inc. boosted its stake in FirstCash by 0.3% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 4,394 shares of the credit services provider’s stock valued at $256,000 after buying an additional 12 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in FirstCash by 1.2% in the second quarter. Ameritas Investment Partners Inc. now owns 4,160 shares of the credit services provider’s stock valued at $242,000 after buying an additional 50 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in FirstCash by 0.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 32,077 shares of the credit services provider’s stock valued at $1,870,000 after buying an additional 83 shares during the last quarter. HL Financial Services LLC boosted its stake in FirstCash by 2.2% in the second quarter. HL Financial Services LLC now owns 4,237 shares of the credit services provider’s stock valued at $247,000 after buying an additional 91 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in FirstCash by 0.3% in the second quarter. Nisa Investment Advisors LLC now owns 29,848 shares of the credit services provider’s stock valued at $1,740,000 after buying an additional 100 shares during the last quarter.

FirstCash Company Profile

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.