FirstCash (NASDAQ:FCFS) Hits New 1-Year High – Here’s Why

FirstCash Holdings, Inc. (NASDAQ:FCFS) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $199.52 and last traded at $197.7730, with a volume of 28444 shares changing hands. The stock had previously closed at $196.21.

Wall Street Analysts Forecast Growth

FCFS has been the topic of a number of analyst reports. Wall Street Zen cut FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 15th. Weiss Ratings restated a “buy (b)” rating on shares of FirstCash in a research report on Monday, December 29th. Canaccord Genuity Group set a $217.00 target price on shares of FirstCash in a research note on Friday, February 6th. Finally, Zacks Research downgraded shares of FirstCash from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 2nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $177.50.

FirstCash Price Performance

The firm has a market capitalization of $8.70 billion, a PE ratio of 26.66 and a beta of 0.46. The firm’s fifty day moving average price is $175.85 and its 200 day moving average price is $162.27. The company has a current ratio of 4.55, a quick ratio of 3.36 and a debt-to-equity ratio of 0.97.

FirstCash (NASDAQ:FCFS) last posted its quarterly earnings results on Thursday, February 5th. The company reported $2.64 EPS for the quarter, beating the consensus estimate of $2.54 by $0.10. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.01 billion. FirstCash had a net margin of 9.02% and a return on equity of 17.99%. The firm’s revenue was up 19.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.12 earnings per share. As a group, equities analysts forecast that FirstCash Holdings, Inc. will post 7.7 earnings per share for the current year.

FirstCash Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Wednesday, February 18th were issued a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $1.68 dividend on an annualized basis and a yield of 0.8%. FirstCash’s payout ratio is presently 22.64%.

Insider Transactions at FirstCash

In related news, CFO R Douglas Orr sold 2,000 shares of FirstCash stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $182.99, for a total value of $365,980.00. Following the completion of the transaction, the chief financial officer owned 36,734 shares in the company, valued at $6,721,954.66. The trade was a 5.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Howard F. Hambleton sold 4,000 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $185.12, for a total transaction of $740,480.00. Following the sale, the insider directly owned 35,406 shares of the company’s stock, valued at $6,554,358.72. This represents a 10.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,500 shares of company stock valued at $5,438,945 in the last 90 days. 14.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FirstCash

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FCFS. Root Financial Partners LLC acquired a new stake in FirstCash during the third quarter worth about $25,000. Rothschild Investment LLC increased its position in shares of FirstCash by 127.8% during the 3rd quarter. Rothschild Investment LLC now owns 180 shares of the company’s stock worth $29,000 after purchasing an additional 101 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in FirstCash by 490.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 195 shares of the company’s stock valued at $31,000 after buying an additional 162 shares during the last quarter. Community Bank N.A. purchased a new position in FirstCash during the third quarter worth about $32,000. Finally, High Point Wealth Management LLC acquired a new position in shares of FirstCash in the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

About FirstCash

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.