Key Points
- Insider sale: FirstCash insider Howard Hambleton sold 3,000 shares on May 19 at an average price of $226.41, totaling about $679,230. After the transaction, he still owned 32,406 shares.
- Strong quarterly results: FirstCash reported quarterly EPS of $2.69, beating estimates of $2.30, on revenue of $1.05 billion versus expectations of $1.0 billion. Revenue rose 25.7% year over year.
- Dividend and analyst backdrop: The company declared a quarterly dividend of $0.42 per share, while Wall Street analysts currently rate FCFS a consensus Buy with an average price target of $198.00. Institutional ownership remains high at 80.3%.
FirstCash Holdings, Inc. (NASDAQ:FCFS - Get Free Report) insider Howard Hambleton sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $226.41, for a total transaction of $679,230.00. Following the sale, the insider directly owned 32,406 shares in the company, valued at $7,337,042.46. This trade represents a 8.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
FirstCash Stock Performance
FirstCash stock opened at $225.86 on Wednesday. The firm's 50 day simple moving average is $205.38 and its 200 day simple moving average is $181.10. The company has a current ratio of 4.77, a quick ratio of 3.42 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $9.90 billion, a PE ratio of 28.30 and a beta of 0.52. FirstCash Holdings, Inc. has a 1-year low of $119.21 and a 1-year high of $235.97.
FirstCash (NASDAQ:FCFS - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $2.69 EPS for the quarter, topping analysts' consensus estimates of $2.30 by $0.39. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1 billion. FirstCash had a net margin of 9.15% and a return on equity of 18.68%. The business's revenue for the quarter was up 25.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.07 EPS. As a group, analysts expect that FirstCash Holdings, Inc. will post 11.3 earnings per share for the current fiscal year.
FirstCash Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.7%. FirstCash's dividend payout ratio is presently 21.05%.
Hedge Funds Weigh In On FirstCash
Several institutional investors and hedge funds have recently made changes to their positions in FCFS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of FirstCash by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,946 shares of the company's stock valued at $2,761,000 after purchasing an additional 1,021 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of FirstCash by 9.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 389,509 shares of the company's stock valued at $46,866,000 after purchasing an additional 34,364 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of FirstCash by 237.2% during the 1st quarter. Jane Street Group LLC now owns 62,057 shares of the company's stock valued at $7,467,000 after purchasing an additional 43,653 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of FirstCash by 4.9% during the 2nd quarter. American Century Companies Inc. now owns 14,187 shares of the company's stock valued at $1,917,000 after purchasing an additional 666 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of FirstCash by 67.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 20,872 shares of the company's stock valued at $2,821,000 after purchasing an additional 8,402 shares during the last quarter. Institutional investors own 80.30% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on FCFS. Weiss Ratings lowered shares of FirstCash from a "buy (a-)" rating to a "buy (b+)" rating in a report on Monday, April 27th. Zacks Research raised shares of FirstCash from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 29th. Canaccord Genuity Group increased their price target on shares of FirstCash from $242.00 to $252.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Wall Street Zen lowered shares of FirstCash from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 10th. Finally, TD Cowen increased their price target on shares of FirstCash from $205.00 to $235.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $198.00.
Check Out Our Latest Report on FCFS
FirstCash Company Profile
(
Get Free Report)
FirstCash, Inc (NASDAQ: FCFS) is a leading integrated operator of pawn stores and provider of short-term consumer loan services in the United States and Mexico. Through its retail pawn outlets, FirstCash offers collateral-based loans secured by personal property, enabling customers to access liquidity without a credit history or traditional bank account. The company also purchases, trades and sells a broad range of secondhand merchandise, including electronics, jewelry and power tools, through its network of conveniently located stores.
In addition to its pawn-broking activities, FirstCash provides unsecured consumer loans designed to meet urgent cash needs.
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