FirstCash (NASDAQ:FCFS) Sets New 1-Year Low – Here’s Why

Shares of FirstCash Holdings, Inc. (NASDAQ:FCFS) hit a new 52-week low during trading on Wednesday . The stock traded as low as $100.24 and last traded at $100.63, with a volume of 141879 shares. The stock had previously closed at $104.85.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FCFS. Stephens began coverage on shares of FirstCash in a research report on Wednesday, November 13th. They issued an “overweight” rating and a $137.00 price target for the company. TD Cowen dropped their target price on FirstCash from $134.00 to $130.00 and set a “buy” rating for the company in a report on Monday, October 28th.

FirstCash Price Performance

The company has a current ratio of 4.31, a quick ratio of 3.23 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $4.50 billion, a P/E ratio of 18.62 and a beta of 0.65. The company has a fifty day simple moving average of $108.02 and a two-hundred day simple moving average of $110.92.

FirstCash (NASDAQ:FCFS) last released its earnings results on Thursday, October 24th. The company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.05. FirstCash had a net margin of 7.29% and a return on equity of 14.97%. The firm had revenue of $837.30 million during the quarter, compared to analyst estimates of $843.94 million. During the same quarter in the previous year, the business earned $1.56 EPS. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. Sell-side analysts expect that FirstCash Holdings, Inc. will post 6.6 EPS for the current fiscal year.

FirstCash Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Friday, November 15th. FirstCash’s dividend payout ratio (DPR) is 28.15%.

Insider Buying and Selling at FirstCash

In related news, CFO R Douglas Orr sold 2,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $105.68, for a total value of $211,360.00. Following the completion of the transaction, the chief financial officer now directly owns 88,715 shares of the company’s stock, valued at approximately $9,375,401.20. This represents a 2.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 14.77% of the company’s stock.

Institutional Trading of FirstCash

Hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in FirstCash during the second quarter worth about $54,000. CWM LLC boosted its stake in shares of FirstCash by 157.5% during the 3rd quarter. CWM LLC now owns 569 shares of the company’s stock worth $65,000 after acquiring an additional 348 shares during the period. GAMMA Investing LLC increased its holdings in shares of FirstCash by 28.9% during the 3rd quarter. GAMMA Investing LLC now owns 900 shares of the company’s stock worth $103,000 after acquiring an additional 202 shares during the last quarter. Quarry LP lifted its holdings in FirstCash by 511.1% during the 2nd quarter. Quarry LP now owns 1,100 shares of the company’s stock valued at $115,000 after purchasing an additional 920 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in FirstCash during the 3rd quarter valued at $133,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

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.