FirstCash Holdings, Inc. to Post Q1 2023 Earnings of $1.20 Per Share, Jefferies Financial Group Forecasts (NASDAQ:FCFS)

FirstCash Holdings, Inc. (NASDAQ:FCFS – Get Rating) – Analysts at Jefferies Financial Group reduced their Q1 2023 EPS estimates for shares of FirstCash in a research note issued to investors on Thursday, March 16th. Jefferies Financial Group analyst J. Hecht now expects that the company will earn $1.20 per share for the quarter, down from their previous forecast of $1.25. The consensus estimate for FirstCash’s current full-year earnings is $5.93 per share. Jefferies Financial Group also issued estimates for FirstCash’s Q2 2023 earnings at $1.15 EPS, Q3 2023 earnings at $1.67 EPS and FY2023 earnings at $6.05 EPS.

FirstCash (NASDAQ:FCFS – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.09. The firm had revenue of $749.34 million during the quarter, compared to the consensus estimate of $752.47 million. FirstCash had a net margin of 9.29% and a return on equity of 13.53%. The company’s revenue for the quarter was up 49.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.52 earnings per share.

Several other brokerages also recently commented on FCFS. Barclays cut their target price on FirstCash from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Tuesday, February 14th. Credit Suisse Group assumed coverage on FirstCash in a report on Wednesday, December 14th. They set a “neutral” rating and a $88.00 target price on the stock. Finally, Stephens raised FirstCash from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $105.00 to $120.00 in a report on Thursday, January 5th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, FirstCash has a consensus rating of “Hold” and an average target price of $97.20.

FirstCash Stock Down 3.8 %

Shares of FCFS opened at $89.54 on Friday. The company has a market capitalization of $4.14 billion, a PE ratio of 16.67 and a beta of 0.79. FirstCash has a 12 month low of $63.43 and a 12 month high of $100.00. The stock’s 50-day moving average price is $89.83 and its two-hundred day moving average price is $87.95. The company has a current ratio of 3.83, a quick ratio of 2.85 and a debt-to-equity ratio of 0.73.

FirstCash Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Stockholders of record on Tuesday, February 14th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Monday, February 13th. FirstCash’s dividend payout ratio is 24.58%.

Insider Activity

In other news, Director Douglas Richard Rippel sold 38,998 shares of the business’s stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $88.28, for a total value of $3,442,743.44. Following the transaction, the director now directly owns 8,003,083 shares of the company’s stock, valued at approximately $706,512,167.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 595,628 shares of company stock valued at $53,164,121 in the last ninety days. 19.35% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FCFS. Allworth Financial LP raised its stake in FirstCash by 49.5% during the 3rd quarter. Allworth Financial LP now owns 453 shares of the company’s stock worth $33,000 after buying an additional 150 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in FirstCash during the 4th quarter worth approximately $42,000. Quadrant Capital Group LLC raised its stake in FirstCash by 32.4% during the 3rd quarter. Quadrant Capital Group LLC now owns 605 shares of the company’s stock worth $44,000 after buying an additional 148 shares during the period. Covestor Ltd raised its stake in FirstCash by 87.3% during the 1st quarter. Covestor Ltd now owns 691 shares of the company’s stock worth $49,000 after buying an additional 322 shares during the period. Finally, CI Investments Inc. acquired a new position in FirstCash during the 4th quarter worth approximately $56,000. 78.78% of the stock is owned by institutional investors and hedge funds.

About FirstCash

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FirstCash Holdings, Inc operates retail pawn stores in the United States and Latin America. 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.