Q1 2023 EPS Estimates for FirstCash Holdings, Inc. Lowered by Jefferies Financial Group (NASDAQ:FCFS)

Posted by Defense World Staff on Mar 18th, 2023

FirstCash Holdings, Inc. (NASDAQ:FCFS – Get Rating) – Jefferies Financial Group dropped their Q1 2023 earnings per share estimates for shares of FirstCash in a research report issued to clients and investors on Thursday, March 16th. Jefferies Financial Group analyst J. Hecht now forecasts that the company will post earnings per share of $1.20 for the quarter, down from their previous estimate of $1.25. The consensus estimate for FirstCash’s current full-year earnings is $5.95 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 announced its quarterly earnings data on Thursday, February 2nd. The company reported $1.65 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 analysts’ expectations of $752.47 million. FirstCash had a net margin of 9.29% and a return on equity of 13.53%. The business’s revenue for the quarter was up 49.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.52 earnings per share.

FCFS has been the topic of a number of other research reports. Credit Suisse Group began coverage on FirstCash in a report on Wednesday, December 14th. They set a “neutral” rating and a $88.00 target price on the stock. Barclays dropped 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. Finally, Stephens raised shares of FirstCash from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $105.00 to $120.00 in a report on Thursday, January 5th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, FirstCash presently has an average rating of “Hold” and a consensus price target of $97.20.

FirstCash Trading Down 3.8 %

NASDAQ FCFS opened at $89.54 on Friday. FirstCash has a one year low of $63.43 and a one year high of $100.00. The company’s 50 day moving average price is $89.83 and its 200 day moving average price is $87.91. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.85 and a current ratio of 3.83. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 16.67 and a beta of 0.79.

Institutional Investors Weigh In On FirstCash

Several large investors have recently made changes to their positions in the stock. Allworth Financial LP lifted its holdings in FirstCash by 49.5% during the 3rd quarter. Allworth Financial LP now owns 453 shares of the company’s stock valued at $33,000 after purchasing an additional 150 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of FirstCash during the 4th quarter worth approximately $42,000. Quadrant Capital Group LLC increased its holdings in shares of FirstCash by 32.4% during the third quarter. Quadrant Capital Group LLC now owns 605 shares of the company’s stock worth $44,000 after purchasing an additional 148 shares during the period. Covestor Ltd boosted its stake in shares of FirstCash by 87.3% in the first quarter. Covestor Ltd now owns 691 shares of the company’s stock valued at $49,000 after buying an additional 322 shares during the period. Finally, CI Investments Inc. acquired a new position in FirstCash in the 4th quarter valued at $56,000. Institutional investors and hedge funds own 78.78% of the company’s stock.

Insider Buying and Selling at FirstCash

In related news, Director Douglas Richard Rippel sold 38,998 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 8,003,083 shares in the company, valued at approximately $706,512,167.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 595,628 shares of company stock valued at $53,164,121. 19.35% of the stock is currently owned by insiders.

FirstCash Dividend Announcement

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

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.