FirstCash (NASDAQ:FCFS) Posts Quarterly Earnings Results

Key Points

• FirstCash reported earnings of $1.79 per share, surpassing analyst estimates of $1.66 by $0.13, with revenue reaching $830.62 million, exceeding expectations of $820.42 million.
• The company announced an increase in its quarterly dividend from $0.38 to $0.42, representing a yield of 1.37% and a dividend payout ratio of 23.35%.
• Several institutional investors, including Jane Street Group and Goldman Sachs, have significantly increased their holdings in FirstCash, with 80.30% of the stock now owned by institutional investors.

FirstCash (NASDAQ:FCFS - Get Free Report) released its quarterly earnings results on Thursday. The company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.13, Zacks reports. FirstCash had a return on equity of 16.63% and a net margin of 8.61%. The firm had revenue of $830.62 million for the quarter, compared to analysts' expectations of $820.42 million. During the same period in the prior year, the firm earned $1.37 EPS. The company's revenue was up .0% compared to the same quarter last year.

FirstCash Stock Performance

Shares of NASDAQ FCFS traded up $6.96 during midday trading on Wednesday, reaching $130.22. The company had a trading volume of 1,005,450 shares, compared to its average volume of 273,759. The stock has a market cap of $5.78 billion, a P/E ratio of 16.11 and a beta of 0.62. The business's 50-day simple moving average is $130.18 and its 200 day simple moving average is $123.00. FirstCash has a 1 year low of $100.24 and a 1 year high of $138.42. The company has a current ratio of 4.21, a quick ratio of 3.12 and a debt-to-equity ratio of 0.79.

FirstCash Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, August 15th. This is an increase from FirstCash's previous quarterly dividend of $0.38. This represents a $1.68 dividend on an annualized basis and a yield of 1.29%. FirstCash's payout ratio is currently 23.35%.

Insiders Place Their Bets

In other news, insider Howard F. Hambleton sold 3,900 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $130.93, for a total transaction of $510,627.00. Following the sale, the insider directly owned 32,481 shares of the company's stock, valued at $4,252,737.33. This represents a 10.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.93% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in FirstCash by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,946 shares of the company's stock worth $2,761,000 after purchasing an additional 1,021 shares in the last quarter. Jane Street Group LLC raised its stake in shares of FirstCash by 237.2% in the 1st quarter. Jane Street Group LLC now owns 62,057 shares of the company's stock valued at $7,467,000 after acquiring an additional 43,653 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in FirstCash by 9.7% in the first 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 in the last quarter. 80.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of FirstCash from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th.

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.