FirstCash (NASDAQ:FCFS) Hits New 1-Year High on Better-Than-Expected Earnings

FirstCash Holdings, Inc. (NASDAQ:FCFS) hit a new 52-week high during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $176.36 and last traded at $176.3760, with a volume of 60060 shares trading hands. The stock had previously closed at $171.92.

The company reported $2.64 EPS for the quarter, beating the consensus estimate of $2.54 by $0.10. FirstCash had a net margin of 8.88% and a return on equity of 17.44%. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.12 EPS.

FirstCash declared that its Board of Directors has approved a stock buyback plan on Thursday, October 30th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

FCFS has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of FirstCash in a research report on Monday, December 29th. TD Cowen restated a “buy” rating on shares of FirstCash in a report on Friday, October 31st. Wall Street Zen downgraded shares of FirstCash from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 10th. Canaccord Genuity Group restated a “buy” rating and set a $205.00 price target on shares of FirstCash in a research note on Monday, December 8th. Finally, Zacks Research lowered FirstCash from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $167.00.

Insider Buying and Selling at FirstCash

In other news, CEO Rick L. Wessel sold 20,000 shares of FirstCash stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $156.39, for a total transaction of $3,127,800.00. Following the completion of the sale, the chief executive officer directly owned 866,982 shares of the company’s stock, valued at approximately $135,587,314.98. The trade was a 2.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Randel G. Owen sold 1,500 shares of the business’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $152.20, for a total transaction of $228,300.00. Following the transaction, the director owned 7,651 shares of the company’s stock, valued at approximately $1,164,482.20. The trade was a 16.39% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 41,000 shares of company stock valued at $6,481,395. 2.93% of the stock is currently owned by company insiders.

Institutional Trading of FirstCash

A number of institutional investors have recently bought and sold shares of the business. State of Wyoming increased its holdings in shares of FirstCash by 4.3% in the 3rd quarter. State of Wyoming now owns 1,765 shares of the company’s stock valued at $280,000 after acquiring an additional 73 shares during the last quarter. Profund Advisors LLC increased its stake in FirstCash by 4.9% in the third quarter. Profund Advisors LLC now owns 1,632 shares of the company’s stock valued at $259,000 after purchasing an additional 76 shares during the last quarter. Ascent Group LLC raised its holdings in FirstCash by 6.0% during the fourth quarter. Ascent Group LLC now owns 1,423 shares of the company’s stock worth $227,000 after purchasing an additional 81 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of FirstCash by 0.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 16,937 shares of the company’s stock worth $2,289,000 after buying an additional 83 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of FirstCash by 1.0% in the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 8,703 shares of the company’s stock valued at $1,379,000 after buying an additional 85 shares in the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.

FirstCash Stock Performance

The company has a current ratio of 4.99, a quick ratio of 3.72 and a debt-to-equity ratio of 1.01. The firm’s fifty day moving average price is $164.08 and its 200-day moving average price is $153.54. The firm has a market cap of $7.86 billion, a price-to-earnings ratio of 25.69 and a beta of 0.49.

FirstCash Company Profile

FirstCash, Inc (NASDAQ: FCFS) is a leading integrated operator of pawn stores and provider of short-term consumer loan services in the United States and Mexico. Through its retail pawn outlets, FirstCash offers collateral-based loans secured by personal property, enabling customers to access liquidity without a credit history or traditional bank account. The company also purchases, trades and sells a broad range of secondhand merchandise, including electronics, jewelry and power tools, through its network of conveniently located stores.

In addition to its pawn-broking activities, FirstCash provides unsecured consumer loans designed to meet urgent cash needs.