FirstCash (NASDAQ:FCFS) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

FirstCash (NASDAQ:FCFS) issued its earnings results on Thursday. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.01, Briefing.com reports. The business had revenue of $831.00 million during the quarter, compared to the consensus estimate of $824.87 million. FirstCash had a return on equity of 14.73% and a net margin of 7.23%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.22 earnings per share.

FirstCash Stock Down 0.3 %

Shares of NASDAQ FCFS traded down $0.39 during mid-day trading on Friday, reaching $111.87. 505,915 shares of the company’s stock traded hands, compared to its average volume of 243,887. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.99 and a quick ratio of 3.03. FirstCash has a 1-year low of $88.05 and a 1-year high of $133.64. The stock has a market cap of $5.09 billion, a P/E ratio of 21.81 and a beta of 0.62. The business has a 50-day simple moving average of $110.26 and a 200 day simple moving average of $115.98.

FirstCash Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.36%. This is a positive change from FirstCash’s previous quarterly dividend of $0.35. The ex-dividend date is Thursday, August 15th. FirstCash’s dividend payout ratio (DPR) is 27.29%.

Insider Buying and Selling

In other news, Director Douglas Richard Rippel sold 720,950 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $117.90, for a total value of $85,000,005.00. Following the completion of the sale, the director now directly owns 4,746,023 shares of the company’s stock, valued at $559,556,111.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO R Douglas Orr sold 2,000 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $116.53, for a total transaction of $233,060.00. Following the transaction, the chief financial officer now directly owns 92,715 shares in the company, valued at $10,804,078.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Douglas Richard Rippel sold 720,950 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $117.90, for a total transaction of $85,000,005.00. Following the completion of the sale, the director now owns 4,746,023 shares of the company’s stock, valued at approximately $559,556,111.70. The disclosure for this sale can be found here. 14.77% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

FCFS has been the subject of several research analyst reports. Loop Capital upgraded shares of FirstCash from a “hold” rating to a “buy” rating and lifted their price objective for the company from $125.00 to $140.00 in a research note on Monday, April 29th. BTIG Research initiated coverage on shares of FirstCash in a report on Friday, June 7th. They set a “neutral” rating on the stock. Finally, TD Cowen raised shares of FirstCash from a “hold” rating to a “buy” rating and increased their price objective for the stock from $130.00 to $145.00 in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $142.00.

About FirstCash

FirstCash Holdings, Inc, together with its subsidiaries, operates retail pawn stores in the United States, Mexico, and rest of Latin America. The company operates in three segments: U.S. Pawn, Latin America Pawn, and Retail POS Payment Solutions segments. Its pawn stores lend money on the collateral of pledged personal property, including jewelry, electronics, tools, appliances, sporting goods, and musical instruments; and retails merchandise acquired through collateral forfeitures on forfeited pawn loans and over-the-counter purchases of merchandise directly from customers.