First Advantage (NYSE:FA) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

First Advantage (NYSE:FA) announced its quarterly earnings results on Tuesday. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.01, Briefing.com reports. First Advantage had a return on equity of 13.94% and a net margin of 3.24%. The business had revenue of $199.10 million during the quarter, compared to the consensus estimate of $204.39 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. First Advantage’s revenue was down .6% compared to the same quarter last year. First Advantage updated its FY 2024 guidance to 0.880-0.980 EPS and its FY24 guidance to $0.88-0.98 EPS.

First Advantage Trading Down 3.0 %

FA traded down $0.56 during midday trading on Wednesday, reaching $18.02. 323,473 shares of the company’s stock traded hands, compared to its average volume of 503,729. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 115.76 and a beta of 1.18. First Advantage has a 52 week low of $13.79 and a 52 week high of $20.79. The firm has a fifty day moving average of $19.15 and a two-hundred day moving average of $17.61. The company has a debt-to-equity ratio of 0.61, a current ratio of 4.31 and a quick ratio of 4.31.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FA shares. William Blair restated an “outperform” rating on shares of First Advantage in a research note on Wednesday. Citigroup upped their target price on shares of First Advantage from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Wolfe Research downgraded First Advantage from an “outperform” rating to a “peer perform” rating in a research report on Thursday, October 10th. Finally, Truist Financial reduced their target price on First Advantage from $250.00 to $249.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, First Advantage has an average rating of “Moderate Buy” and an average target price of $77.25.

First Advantage Company Profile

First Advantage Corporation provides employment background screening, identity, and verification solutions worldwide. It offers pre-onboarding products and solutions, such as criminal background checks, drug/health screening, extended workforce screening, FBI channeling, identity checks and biometric fraud mitigation tools, education/work history verification, driver records and compliance, healthcare credentials, executive screening, and other screening products.