Zacks Investment Research lowered shares of FirstCash Inc (NASDAQ:FCFS) from a hold rating to a sell rating in a research report sent to investors on Monday 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. “
A number of other research analysts also recently issued reports on FCFS. Stephens boosted their price target on FirstCash from $51.00 to $62.00 and gave the company an equal weight rating in a report on Wednesday, June 21st. BidaskClub raised FirstCash from a buy rating to a strong-buy rating in a research note on Tuesday, June 27th. Janney Montgomery Scott cut FirstCash from a buy rating to a neutral rating and dropped their price target for the stock from $58.55 to $58.00 in a research report on Monday, July 17th. CL King cut FirstCash from a strong-buy rating to a buy rating in a research report on Thursday, July 27th. Finally, JMP Securities boosted their price target on FirstCash and gave the stock an outperform rating in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $64.57.
FirstCash (NASDAQ:FCFS) traded up 0.16% during trading on Monday, reaching $61.05. 7,097 shares of the company’s stock traded hands. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 33.05 and a beta of 0.90. The company has a 50 day moving average of $60.40 and a 200 day moving average of $56.15. FirstCash has a one year low of $39.80 and a one year high of $63.60.
FirstCash (NASDAQ:FCFS) last issued its earnings results on Thursday, July 27th. The credit services provider reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.05. The firm had revenue of $416.60 million for the quarter, compared to analyst estimates of $410.65 million. FirstCash had a return on equity of 4.10% and a net margin of 3.66%. FirstCash’s revenue for the quarter was up 128.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 earnings per share. Equities research analysts predict that FirstCash will post $2.65 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Piedmont Investment Advisors LLC acquired a new position in FirstCash during the 2nd quarter worth about $609,000. Sterling Capital Management LLC raised its position in FirstCash by 56.4% in the 2nd quarter. Sterling Capital Management LLC now owns 28,057 shares of the credit services provider’s stock valued at $1,636,000 after purchasing an additional 10,115 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in FirstCash by 1.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,160 shares of the credit services provider’s stock valued at $242,000 after purchasing an additional 50 shares in the last quarter. Earnest Partners LLC raised its position in FirstCash by 1.5% in the 2nd quarter. Earnest Partners LLC now owns 1,451,425 shares of the credit services provider’s stock valued at $84,618,000 after purchasing an additional 21,038 shares in the last quarter. Finally, State Street Corp raised its position in FirstCash by 2.9% in the 2nd quarter. State Street Corp now owns 1,148,454 shares of the credit services provider’s stock valued at $66,961,000 after purchasing an additional 32,239 shares in the last quarter.
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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