Wedbush Equities Analysts Boost Earnings Estimates for FirstCash Inc (FCFS)

FirstCash Inc (NYSE:FCFS) – Wedbush lifted their Q2 2019 earnings per share estimates for shares of FirstCash in a report released on Thursday, April 25th. Wedbush analyst H. Coffey now forecasts that the credit services provider will earn $0.78 per share for the quarter, up from their previous estimate of $0.75. Wedbush also issued estimates for FirstCash’s FY2019 earnings at $4.00 EPS, Q1 2020 earnings at $1.08 EPS, Q2 2020 earnings at $0.93 EPS, Q3 2020 earnings at $1.18 EPS, Q4 2020 earnings at $1.31 EPS, FY2020 earnings at $4.50 EPS and FY2021 earnings at $5.12 EPS.

Several other research firms have also recently commented on FCFS. JMP Securities upped their price target on FirstCash from $95.00 to $105.00 and gave the stock a “market outperform” rating in a research note on Thursday. Zacks Investment Research upgraded FirstCash from a “sell” rating to a “hold” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $94.83.

FirstCash stock opened at $98.38 on Friday. FirstCash has a 12 month low of $66.28 and a 12 month high of $98.83.

FirstCash (NYSE:FCFS) last released its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.08. The company had revenue of $467.60 million for the quarter, compared to analysts’ expectations of $453.90 million. During the same quarter last year, the company earned $0.90 EPS. FirstCash’s revenue for the quarter was up 4.0% compared to the same quarter last year.

A number of large investors have recently added to or reduced their stakes in the business. Intercontinental Wealth Advisors LLC purchased a new position in shares of FirstCash in the fourth quarter valued at $49,000. Ffcm LLC purchased a new position in shares of FirstCash in the fourth quarter valued at $141,000. Advisor Group Inc. increased its position in shares of FirstCash by 18.0% in the fourth quarter. Advisor Group Inc. now owns 2,339 shares of the credit services provider’s stock valued at $170,000 after buying an additional 356 shares in the last quarter. Caxton Associates LP purchased a new position in shares of FirstCash in the fourth quarter valued at $229,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of FirstCash in the first quarter valued at $230,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

In other FirstCash news, Director Daniel R. Feehan sold 11,093 shares of the stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $88.84, for a total value of $985,502.12. Following the completion of the transaction, the director now owns 56,008 shares in the company, valued at $4,975,750.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO R Douglas Orr sold 2,500 shares of the stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $87.50, for a total value of $218,750.00. Following the completion of the transaction, the chief financial officer now owns 155,000 shares of the company’s stock, valued at approximately $13,562,500. The disclosure for this sale can be found here. Insiders sold 22,500 shares of company stock valued at $2,004,554 in the last quarter. 2.83% of the stock is currently owned by company insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.02%. The ex-dividend date is Tuesday, May 14th.

About FirstCash

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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Earnings History and Estimates for FirstCash (NYSE:FCFS)

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