FirstCash Holdings, Inc. (NASDAQ:FCFS) Declares Dividend Increase – $0.38 Per Share

FirstCash Holdings, Inc. (NASDAQ:FCFS) declared a quarterly dividend on Wednesday, July 24th, Zacks reports. Investors of record on Thursday, August 15th will be given a dividend of 0.38 per share on Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Thursday, August 15th. This is an increase from FirstCash’s previous quarterly dividend of $0.35.

FirstCash has increased its dividend payment by an average of 8.0% per year over the last three years. FirstCash has a payout ratio of 19.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect FirstCash to earn $7.85 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 19.4%.

FirstCash Trading Up 2.0 %

NASDAQ:FCFS opened at $118.20 on Wednesday. The company has a market cap of $5.37 billion, a PE ratio of 23.04 and a beta of 0.62. The business’s 50 day moving average is $109.00 and its two-hundred day moving average is $116.10. The company has a quick ratio of 3.04, a current ratio of 4.03 and a debt-to-equity ratio of 0.85. FirstCash has a 52 week low of $88.05 and a 52 week high of $133.64.

FirstCash (NASDAQ:FCFS) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.32 by $0.05. The business had revenue of $831.00 million during the quarter, compared to analyst estimates of $824.87 million. FirstCash had a net margin of 7.17% and a return on equity of 14.90%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.22 EPS. On average, analysts predict that FirstCash will post 6.56 EPS for the current year.

Insider Buying and Selling

In other FirstCash news, CFO R Douglas Orr sold 2,000 shares of FirstCash stock in a transaction on Monday, August 5th. The stock was sold at an average price of $107.18, for a total transaction of $214,360.00. Following the sale, the chief financial officer now owns 90,715 shares of the company’s stock, valued at approximately $9,722,833.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other FirstCash news, Director Douglas Richard Rippel sold 720,950 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $117.90, for a total transaction of $85,000,005.00. Following the completion of the transaction, the director now directly owns 4,746,023 shares of the company’s stock, valued at approximately $559,556,111.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO R Douglas Orr sold 2,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $107.18, for a total value of $214,360.00. Following the completion of the sale, the chief financial officer now directly owns 90,715 shares in the company, valued at approximately $9,722,833.70. The disclosure for this sale can be found here. Corporate insiders own 14.77% of the company’s stock.

Analysts Set New Price Targets

FCFS has been the topic of several analyst reports. BTIG Research initiated coverage on FirstCash in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Loop Capital raised shares of FirstCash from a “hold” rating to a “buy” rating and increased their price objective for the stock from $125.00 to $140.00 in a report on Monday, April 29th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $142.00.

About FirstCash

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.