FirstCash (NASDAQ:FCFS) Stock Price Down 4.1% – What’s Next?
by Mitch Edgeman · The Markets DailyFirstCash Holdings, Inc. (NASDAQ:FCFS – Get Free Report) fell 4.1% during mid-day trading on Monday . The company traded as low as $191.05 and last traded at $191.4970. 88,264 shares changed hands during trading, a decline of 71% from the average session volume of 304,099 shares. The stock had previously closed at $199.58.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on FCFS. Canaccord Genuity Group raised their target price on shares of FirstCash from $217.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Weiss Ratings restated a “buy (b)” rating on shares of FirstCash in a research note on Friday, March 27th. Wall Street Zen cut shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 15th. Finally, Zacks Research cut shares of FirstCash from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, FirstCash has an average rating of “Moderate Buy” and a consensus price target of $183.25.
Check Out Our Latest Stock Analysis on FirstCash
FirstCash Trading Up 3.2%
The firm has a market capitalization of $8.84 billion, a P/E ratio of 27.10 and a beta of 0.47. The business’s 50-day moving average is $186.87 and its 200 day moving average is $168.90. The company has a debt-to-equity ratio of 0.97, a current ratio of 4.55 and a quick ratio of 3.36.
FirstCash (NASDAQ:FCFS – Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The company reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.10. FirstCash had a net margin of 9.02% and a return on equity of 17.99%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the firm earned $2.12 earnings per share. FirstCash’s revenue for the quarter was up 19.8% compared to the same quarter last year. As a group, analysts anticipate that FirstCash Holdings, Inc. will post 7.7 EPS for the current fiscal year.
FirstCash Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Wednesday, February 18th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, February 18th. FirstCash’s dividend payout ratio (DPR) is currently 22.64%.
Insider Buying and Selling at FirstCash
In other FirstCash news, insider Howard F. Hambleton sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $185.12, for a total value of $740,480.00. Following the transaction, the insider directly owned 35,406 shares of the company’s stock, valued at $6,554,358.72. This trade represents a 10.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas Brent Stuart sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $182.53, for a total transaction of $1,825,300.00. Following the completion of the transaction, the chief operating officer directly owned 150,846 shares in the company, valued at approximately $27,533,920.38. This represents a 6.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 26,500 shares of company stock valued at $4,783,985 in the last ninety days. 14.77% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On FirstCash
Several hedge funds have recently bought and sold shares of FCFS. Westfield Capital Management Co. LP bought a new position in FirstCash in the 3rd quarter valued at about $66,925,000. JPMorgan Chase & Co. increased its holdings in FirstCash by 133.8% in the 4th quarter. JPMorgan Chase & Co. now owns 562,104 shares of the company’s stock valued at $89,588,000 after buying an additional 321,663 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in FirstCash by 36.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,169,281 shares of the company’s stock valued at $186,361,000 after buying an additional 312,132 shares during the period. AQR Capital Management LLC grew its holdings in shares of FirstCash by 67.6% during the 3rd quarter. AQR Capital Management LLC now owns 623,059 shares of the company’s stock valued at $97,503,000 after purchasing an additional 251,305 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of FirstCash by 76.3% during the 3rd quarter. Victory Capital Management Inc. now owns 534,571 shares of the company’s stock valued at $84,687,000 after purchasing an additional 231,379 shares during the last quarter. 80.30% of the stock is owned by institutional investors.
About FirstCash
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.