FirstCash, Inc. (NASDAQ:FCFS) posted its quarterly earnings data on Thursday, October 26th. The credit services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01, Bloomberg Earnings reports. The firm had revenue of $435.40 million for the quarter, compared to analyst estimates of $418.57 million. FirstCash had a net margin of 6.49% and a return on equity of 7.66%. FirstCash’s quarterly revenue was up 66.7% on a year-over-year basis. During the same period last year, the firm posted $0.58 EPS. FirstCash updated its FY17 guidance to $2.60-2.70 EPS.
FirstCash (NASDAQ FCFS) traded down $0.60 during mid-day trading on Friday, hitting $63.40. The company had a trading volume of 91,800 shares, compared to its average volume of 235,301. FirstCash has a twelve month low of $39.80 and a twelve month high of $65.60.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, November 13th will be paid a dividend of $0.20 per share. This is a boost from FirstCash’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Friday, November 10th. FirstCash’s dividend payout ratio is 32.62%.
Several equities research analysts have commented on FCFS shares. Janney Montgomery Scott lowered shares of FirstCash from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $58.55 to $58.00 in a research report on Monday, July 17th. BidaskClub lowered shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. CL King lowered shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. JMP Securities boosted their target price on shares of FirstCash and gave the company an “outperform” rating in a research note on Friday, July 28th. Finally, Zacks Investment Research downgraded shares of FirstCash from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $65.14.
FirstCash announced that its board has initiated a stock buyback plan on Thursday, October 26th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the credit services provider to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
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.
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