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

Key Points

• FirstCash beat earnings expectations, reporting quarterly EPS of $2.68 versus the $2.63 consensus estimate. EPS increased from $1.86 a year earlier, while revenue rose 17.7% year over year.
• Analysts remain broadly positive, with five Buy ratings and one Hold rating producing a consensus “Moderate Buy” rating and an average price target of $253.
• Insiders sold 14,098 shares worth approximately $3.05 million over the past 90 days, including stock sales by a director and the CFO.

FirstCash (NASDAQ:FCFS - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $2.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.63 by $0.05, Zacks reports. FirstCash had a net margin of 9.42% and a return on equity of 19.65%. During the same period last year, the company earned $1.86 earnings per share. FirstCash's revenue was up 17.7% on a year-over-year basis.

FirstCash Price Performance

FirstCash stock opened at $196.53 on Thursday. The company's 50 day simple moving average is $217.83 and its 200-day simple moving average is $216.41. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.51 and a current ratio of 4.89. FirstCash has a 1 year low of $146.77 and a 1 year high of $238.93. The company has a market capitalization of $8.52 billion, a price-to-earnings ratio of 22.53 and a beta of 0.55.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Canaccord Genuity Group increased their price target on shares of FirstCash from $252.00 to $265.00 and gave the company a "buy" rating in a research note on Thursday, October 15th. Wall Street Zen cut FirstCash from a "buy" rating to a "hold" rating in a report on Saturday, October 10th. Loop Capital upgraded FirstCash from a "hold" rating to a "buy" rating and set a $255.00 price objective for the company in a research report on Monday, August 10th. Weiss Ratings raised FirstCash from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 8th. Finally, Stephens restated an "overweight" rating and issued a $250.00 target price on shares of FirstCash in a research report on Thursday, October 1st. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, FirstCash has a consensus rating of "Moderate Buy" and an average price target of $253.00.

Insider Activity at FirstCash

In related news, Director James Graves sold 3,750 shares of FirstCash stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $221.20, for a total value of $829,500.00. Following the completion of the sale, the director owned 11,929 shares in the company, valued at approximately $2,638,694.80. This trade represents a 23.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO R. Orr sold 2,000 shares of the business's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $216.00, for a total value of $432,000.00. Following the completion of the sale, the chief financial officer directly owned 34,734 shares in the company, valued at approximately $7,502,544. The trade was a 5.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 14,098 shares of company stock worth $3,051,281. Company insiders own 2.86% of the company's stock.

FirstCash Company Profile

FirstCash Holdings, Inc is a specialty financial services and retail company that operates pawn stores in the United States and Mexico. Through its pawn operations, the company provides short-term, collateral-backed loans to consumers who pledge personal property as security. Customers can reclaim their pledged items by repaying the loan and applicable fees within the required period.

The company also generates revenue by selling merchandise that has been forfeited on pawn loans or acquired through other purchasing activities.

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