FirstCash Inc (FCFS) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of FirstCash Inc (NASDAQ:FCFS) from a buy rating to a hold rating in a report issued on Tuesday morning.

According to Zacks, “FirstCash Inc. is an operator of pawn stores. The company focuses on serving cash and credit constrained consumers through its retail pawn locations, which buy and sell jewelry, consumer electronics, power tools, household appliances, sporting goods, musical instruments and other merchandise. It operates primarily in the U.S., Mexico, Guatemala and El Salvador. FirstCash, Inc., formerly known as First Cash Financial Services Inc., is based in Arlington, United States. “

FCFS has been the subject of a number of other reports. Stephens increased their target price on FirstCash from $51.00 to $62.00 and gave the company an equal weight rating in a research report on Wednesday, June 21st. JMP Securities increased their target price on FirstCash and gave the company an outperform rating in a research report on Friday, July 28th. Jefferies Group LLC set a $69.00 target price on FirstCash and gave the company a buy rating in a research report on Friday, August 18th. BidaskClub downgraded FirstCash from a buy rating to a hold rating in a research report on Wednesday, August 23rd. Finally, CL King lowered FirstCash from a strong-buy rating to a buy rating in a report on Thursday, July 27th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $61.00.

FirstCash (NASDAQ:FCFS) opened at 58.30 on Tuesday. The stock has a market capitalization of $2.78 billion, a P/E ratio of 31.56 and a beta of 0.90. FirstCash has a 1-year low of $39.80 and a 1-year high of $60.75. The firm’s 50 day moving average is $58.74 and its 200 day moving average is $53.51.

FirstCash (NASDAQ:FCFS) last posted its earnings results on Thursday, July 27th. The credit services provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. The firm had revenue of $416.60 million during the quarter, compared to the consensus estimate of $410.65 million. FirstCash had a return on equity of 4.10% and a net margin of 3.66%. The company’s quarterly revenue was up 128.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 EPS. On average, equities research analysts anticipate that FirstCash will post $2.66 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Tuesday, August 15th were issued a dividend of $0.19 per share. The ex-dividend date was Friday, August 11th. This represents a $0.76 annualized dividend and a yield of 1.30%. FirstCash’s payout ratio is presently 25.38%.

A number of large investors have recently added to or reduced their stakes in FCFS. Russell Investments Group Ltd. raised its holdings in FirstCash by 5.6% during the 1st quarter. Russell Investments Group Ltd. now owns 239,205 shares of the credit services provider’s stock valued at $11,758,000 after buying an additional 12,670 shares during the period. Great West Life Assurance Co. Can raised its holdings in FirstCash by 5.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 68,119 shares of the credit services provider’s stock valued at $3,345,000 after buying an additional 3,739 shares during the period. Tyers Asset Management LLC raised its holdings in FirstCash by 14.9% during the 1st quarter. Tyers Asset Management LLC now owns 2,380 shares of the credit services provider’s stock valued at $117,000 after buying an additional 308 shares during the period. Flinton Capital Management LLC raised its holdings in FirstCash by 14.9% during the 1st quarter. Flinton Capital Management LLC now owns 2,890 shares of the credit services provider’s stock valued at $142,000 after buying an additional 374 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in FirstCash by 10.3% during the 1st quarter. Bank of New York Mellon Corp now owns 716,521 shares of the credit services provider’s stock valued at $35,218,000 after buying an additional 67,204 shares during the period.

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.

Analyst Recommendations for FirstCash (NASDAQ:FCFS)

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