First Advantage (NYSE:FA) Updates FY24 Earnings Guidance

First Advantage (NYSE:FA) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $0.88 to $0.98 for the period, compared to the consensus earnings per share estimate of $0.93. The company issued revenue guidance of $750 million to $800 million, compared to the consensus revenue estimate of $771.99 million. First Advantage also updated its FY 2024 guidance to 0.880-0.980 EPS.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FA. William Blair began coverage on First Advantage in a report on Tuesday, April 23rd. They set an outperform rating for the company. Truist Financial lowered their price target on First Advantage from $250.00 to $249.00 and set a buy rating on the stock in a research report on Monday, July 22nd. Finally, Needham & Company LLC reissued a hold rating on shares of First Advantage in a research report on Monday, May 13th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, First Advantage currently has an average rating of Moderate Buy and an average price target of $64.20.

First Advantage Price Performance

Shares of First Advantage stock traded down $0.19 during midday trading on Friday, reaching $16.98. The company had a trading volume of 498,098 shares, compared to its average volume of 432,819. The company has a current ratio of 4.29, a quick ratio of 4.29 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 77.18, a price-to-earnings-growth ratio of 3.27 and a beta of 1.14. The stock has a fifty day simple moving average of $16.41 and a 200 day simple moving average of $16.30. First Advantage has a 1-year low of $12.46 and a 1-year high of $17.49.

First Advantage (NYSE:FA) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.21. The business had revenue of $184.55 million during the quarter, compared to analyst estimates of $184.66 million. First Advantage had a net margin of 4.28% and a return on equity of 14.12%. First Advantage’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 earnings per share. As a group, equities research analysts forecast that First Advantage will post 0.83 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director James Lindsey Clark sold 2,100 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $15.48, for a total value of $32,508.00. Following the completion of the transaction, the director now owns 42,927 shares of the company’s stock, valued at approximately $664,509.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Joseph K. Jaeger sold 7,331 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $16.08, for a total value of $117,882.48. Following the completion of the transaction, the insider now owns 688,967 shares of the company’s stock, valued at approximately $11,078,589.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James Lindsey Clark sold 2,100 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $15.48, for a total transaction of $32,508.00. Following the completion of the transaction, the director now directly owns 42,927 shares of the company’s stock, valued at approximately $664,509.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,034 shares of company stock valued at $241,439. Company insiders own 5.30% of the company’s stock.

First Advantage Company Profile

First Advantage Corporation provides employment background screening, identity, and verification solutions worldwide. It offers pre-onboarding products and solutions, such as criminal background checks, drug/health screening, extended workforce screening, FBI channeling, identity checks and biometric fraud mitigation tools, education/work history verification, driver records and compliance, healthcare credentials, executive screening, and other screening products.