First Cash Financial Services (FCFS) Updates FY18 Earnings Guidance
First Cash Financial Services (NYSE:FCFS) updated its FY18 earnings guidance on Thursday. The company provided earnings per share guidance of $3.35-3.55 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.28.
Several equities research analysts have issued reports on the company. Zacks Investment Research downgraded First Cash Financial Services from a buy rating to a hold rating in a report on Wednesday, January 31st. ValuEngine upgraded First Cash Financial Services from a hold rating to a buy rating in a report on Thursday, March 1st. Wedbush set a $75.00 price target on First Cash Financial Services and gave the stock a buy rating in a report on Monday, January 8th. They noted that the move was a valuation call. Finally, JMP Securities increased their price target on First Cash Financial Services from $85.00 to $95.00 and gave the stock a market outperform rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $75.14.
Shares of First Cash Financial Services stock opened at $84.45 on Friday. First Cash Financial Services has a 1 year low of $50.95 and a 1 year high of $85.50. The stock has a market capitalization of $3,812.84, a price-to-earnings ratio of 30.82, a price-to-earnings-growth ratio of 1.18 and a beta of 0.62. The company has a quick ratio of 4.69, a current ratio of 5.62 and a debt-to-equity ratio of 0.21.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 31st. Investors of record on Tuesday, May 15th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, May 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.04%. First Cash Financial Services’s payout ratio is presently 32.12%.
First Cash Financial Services declared that its board has initiated a share buyback program on Thursday, April 26th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the credit services provider to repurchase up to 2.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.
In related news, CFO R Douglas Orr sold 1,185 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $75.00, for a total transaction of $88,875.00. Following the completion of the transaction, the chief financial officer now directly owns 168,815 shares in the company, valued at $12,661,125. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Thomas Brent Stuart acquired 1,080 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were purchased at an average price of $73.64 per share, with a total value of $79,531.20. Following the completion of the acquisition, the insider now owns 8,283 shares of the company’s stock, valued at approximately $609,960.12. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 23,690 shares of company stock valued at $1,866,928. 2.75% of the stock is owned by corporate insiders.
First Cash Financial Services Company Profile
FirstCash, Inc operates retail-based pawn and consumer finance stores in the United States and Mexico. Its pawn stores lend money on the collateral of pledged personal property, including consumer electronics, jewelry, power tools, household appliances, sporting goods, and musical instruments; and retails previously owned merchandise acquired through pawn forfeitures, as well as through purchases from the general public.
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