Wall Street brokerages expect FirstCash Inc (NYSE:FCFS) to report $440.46 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for FirstCash’s earnings. The lowest sales estimate is $435.58 million and the highest is $443.51 million. FirstCash posted sales of $435.41 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.2%. The business is expected to report its next earnings results on Thursday, October 25th.
On average, analysts expect that FirstCash will report full year sales of $1.81 billion for the current fiscal year, with estimates ranging from $1.80 billion to $1.82 billion. For the next year, analysts anticipate that the firm will post sales of $1.93 billion per share, with estimates ranging from $1.90 billion to $1.94 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow FirstCash.
FirstCash (NYSE:FCFS) last released its earnings results on Thursday, July 26th. The credit services provider reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.05. FirstCash had a return on equity of 10.32% and a net margin of 9.40%. The firm had revenue of $419.97 million for the quarter, compared to the consensus estimate of $424.01 million. During the same period in the prior year, the business posted $0.52 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year.
Several analysts have weighed in on the company. Zacks Investment Research raised FirstCash from a “hold” rating to a “strong-buy” rating and set a $103.00 target price on the stock in a research note on Friday, July 6th. ValuEngine lowered FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 5th. Finally, Credit Suisse Group lowered FirstCash from an “outperform” rating to a “neutral” rating and set a $73.00 price target on the stock. in a research note on Thursday, May 24th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $92.80.
Shares of FCFS stock traded up $0.15 during trading hours on Tuesday, reaching $79.95. The company had a trading volume of 1,562 shares, compared to its average volume of 152,693. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.36 and a current ratio of 6.48. FirstCash has a twelve month low of $57.75 and a twelve month high of $95.40. The firm has a market cap of $3.56 billion, a P/E ratio of 29.12, a price-to-earnings-growth ratio of 1.14 and a beta of 0.52.
The business also recently announced a quarterly dividend, which was paid on Friday, August 31st. Shareholders of record on Wednesday, August 15th were given a $0.22 dividend. The ex-dividend date was Tuesday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 1.10%. FirstCash’s dividend payout ratio is currently 32.12%.
FirstCash declared that its Board of Directors has approved a share repurchase program on Thursday, July 26th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the credit services provider to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
Institutional investors and hedge funds have recently bought and sold shares of the business. Sawgrass Asset Management LLC increased its position in shares of FirstCash by 203.2% during the second quarter. Sawgrass Asset Management LLC now owns 20,092 shares of the credit services provider’s stock worth $1,805,000 after acquiring an additional 13,466 shares in the last quarter. Jane Street Group LLC purchased a new position in FirstCash in the first quarter valued at about $229,000. BlackRock Inc. boosted its stake in FirstCash by 5.6% in the second quarter. BlackRock Inc. now owns 6,376,093 shares of the credit services provider’s stock valued at $572,893,000 after acquiring an additional 337,895 shares during the last quarter. Zions Bancorporation purchased a new position in FirstCash in the second quarter valued at about $327,000. Finally, New York State Common Retirement Fund lifted its stake in shares of FirstCash by 19.0% during the 1st quarter. New York State Common Retirement Fund now owns 450,226 shares of the credit services provider’s stock valued at $36,581,000 after buying an additional 71,889 shares in the last quarter. 95.95% of the stock is owned by hedge funds and other institutional investors.
FirstCash, Inc operates retail-based pawn and consumer finance stores in the United States and Mexico. Its pawn stores lend money on the collateral of pledged personal property, including consumer electronics, jewelry, power tools, household appliances, sporting goods, and musical instruments; and retails previously owned merchandise acquired through pawn forfeitures, as well as through purchases from the general public.
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