FirstCash (NASDAQ:FCFS) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

FirstCash (NASDAQ:FCFS) issued its earnings results on Thursday. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.05, Briefing.com reports. FirstCash had a net margin of 7.17% and a return on equity of 14.90%. The company had revenue of $831.00 million for the quarter, compared to analyst estimates of $824.87 million. During the same period in the prior year, the business posted $1.22 earnings per share. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year.

FirstCash Trading Down 0.3 %

Shares of FirstCash stock opened at $111.87 on Friday. The business has a 50 day moving average price of $110.26 and a 200 day moving average price of $116.04. The company has a market capitalization of $5.09 billion, a P/E ratio of 21.81 and a beta of 0.62. The company has a debt-to-equity ratio of 0.85, a current ratio of 4.03 and a quick ratio of 3.03. FirstCash has a 1 year low of $88.05 and a 1 year high of $133.64.

FirstCash Increases Dividend

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

Insider Buying and Selling at FirstCash

In other news, CFO R Douglas Orr sold 2,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $116.53, for a total value of $233,060.00. Following the sale, the chief financial officer now directly owns 92,715 shares in the company, valued at $10,804,078.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO R Douglas Orr sold 2,000 shares of FirstCash stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $116.53, for a total transaction of $233,060.00. Following the completion of the sale, the chief financial officer now owns 92,715 shares in the company, valued at approximately $10,804,078.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Douglas Richard Rippel sold 720,950 shares of the business’s 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 transaction, the director now directly 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 owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. TD Cowen raised FirstCash from a “hold” rating to a “buy” rating and boosted their price target for the stock from $130.00 to $145.00 in a research note on Wednesday, April 10th. BTIG Research assumed coverage on FirstCash in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Finally, Loop Capital upgraded FirstCash from a “hold” rating to a “buy” rating and raised their price target for the company from $125.00 to $140.00 in a research report on Monday, April 29th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $142.00.

FirstCash Company Profile

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.