Wedbush Weighs in on FirstCash Inc’s Q2 2018 Earnings (FCFS)

FirstCash Inc (NYSE:FCFS) – Stock analysts at Wedbush lifted their Q2 2018 EPS estimates for FirstCash in a research note issued to investors on Monday. Wedbush analyst H. Coffey now forecasts that the credit services provider will earn $0.58 per share for the quarter, up from their previous forecast of $0.57. Wedbush has a “Buy” rating and a $75.00 price target on the stock. Wedbush also issued estimates for FirstCash’s FY2020 earnings at $4.25 EPS.

FirstCash (NYSE:FCFS) last issued its earnings results on Thursday, October 26th. The credit services provider reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. FirstCash had a net margin of 6.41% and a return on equity of 8.45%. The business had revenue of $435.40 million for the quarter, compared to the consensus estimate of $418.57 million. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The business’s quarterly revenue was up 66.7% compared to the same quarter last year.

A number of other equities research analysts also recently commented on the stock. BidaskClub upgraded shares of FirstCash from a “sell” rating to a “hold” rating in a report on Friday, October 27th. Jefferies Group restated a “buy” rating and issued a $73.00 target price on shares of FirstCash in a report on Thursday, October 12th. Credit Suisse Group began coverage on shares of FirstCash in a report on Wednesday, October 4th. They issued an “outperform” rating and a $73.00 target price for the company. Zacks Investment Research upgraded shares of FirstCash from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a report on Thursday, September 14th. Finally, ValuEngine downgraded shares of FirstCash from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $67.00.

Shares of FirstCash (FCFS) traded up $0.80 during midday trading on Tuesday, hitting $70.25. 62,417 shares of the company traded hands, compared to its average volume of 262,447. The company has a debt-to-equity ratio of 0.20, a current ratio of 6.57 and a quick ratio of 4.30. The firm has a market capitalization of $3,310.00 and a PE ratio of 30.15. FirstCash has a 12-month low of $39.80 and a 12-month high of $70.35.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of FirstCash during the third quarter worth $1,736,000. Grandeur Peak Global Advisors LLC acquired a new position in shares of FirstCash during the third quarter worth $54,801,000. Earnest Partners LLC lifted its position in shares of FirstCash by 1.6% during the third quarter. Earnest Partners LLC now owns 1,474,115 shares of the credit services provider’s stock worth $93,090,000 after purchasing an additional 22,690 shares in the last quarter. Zions Bancorporation acquired a new stake in FirstCash in the third quarter valued at $230,000. Finally, California Public Employees Retirement System raised its holdings in FirstCash by 3.9% in the third quarter. California Public Employees Retirement System now owns 166,423 shares of the credit services provider’s stock valued at $10,510,000 after acquiring an additional 6,211 shares in the last quarter. Institutional investors own 95.69% of the company’s stock.

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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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