FirstCash (NASDAQ:FCFS) Releases Earnings Results, Beats Estimates By $0.13 EPS

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) announced its earnings results on Thursday. The company reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.13, Zacks reports. FirstCash had a net margin of 8.61% and a return on equity of 16.63%. The company had revenue of $830.62 million for the quarter, compared to analyst estimates of $820.42 million. During the same period in the prior year, the business earned $1.37 earnings per share. FirstCash's quarterly revenue was up .0% on a year-over-year basis.

FirstCash Stock Performance

Shares of NASDAQ FCFS traded up $0.16 during mid-day trading on Friday, reaching $122.45. 499,302 shares of the company were exchanged, compared to its average volume of 267,055. The company's 50-day simple moving average is $130.42 and its 200-day simple moving average is $122.68. The company has a quick ratio of 3.28, a current ratio of 4.21 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $5.43 billion, a P/E ratio of 18.81 and a beta of 0.62. FirstCash has a twelve month low of $100.24 and a twelve month high of $138.42.

FirstCash Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a $0.42 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.68 dividend on an annualized basis and a yield of 1.37%. This is a boost from FirstCash's previous quarterly dividend of $0.38. FirstCash's dividend payout ratio (DPR) is currently 23.35%.

Insider Activity

In related news, insider Howard F. Hambleton sold 3,900 shares of the firm's 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 transaction, the insider directly owned 32,481 shares of the company's stock, valued at approximately $4,252,737.33. This trade represents a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.93% of the company's stock.

Institutional Investors Weigh In On FirstCash

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC lifted its position 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 acquiring an additional 43,653 shares during the period. Goldman Sachs Group Inc. grew its position in FirstCash by 9.7% during the first quarter. Goldman Sachs Group Inc. now owns 389,509 shares of the company's stock valued at $46,866,000 after buying an additional 34,364 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in FirstCash by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,946 shares of the company's stock valued at $2,761,000 after buying an additional 1,021 shares during the period. 80.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.