TD Cowen analyst Moshe Orenbuch maintained a Hold rating on FirstCash (FCFS – Research Report) today and set a price target of $130.00.
Geoff Meacham has given his Hold rating due to a combination of factors related to FirstCash’s recent financial performance and growth prospects. The company reported fourth-quarter earnings per share that exceeded both the firm’s and the consensus estimates, largely due to lower operating expenses, particularly in their auto finance segment (AFF). Additionally, revenues came in above expectations with notable strength in the Latin American pawn and AFF operations, only slightly offset by higher cost of revenue and a modest increase in interest expenses.
The Hold rating also considers the company’s forward-looking statements, with management expressing confidence in future growth across its various segments, including U.S. pawn, Latin American pawn, and AFF—forecasting growth rates for 2024 that surpass current estimates. Notably, the U.S. pawn segment is expected to continue its strong performance into the first half of 2024. Despite the positive outlook and recent performance, the rating reflects adjustments in the earnings estimates for the coming years and a price target based on these revised projections.
Orenbuch covers the Financial sector, focusing on stocks such as OneMain Holdings, Discover Financial Services, and SLM. According to TipRanks, Orenbuch has an average return of 20.7% and a 67.57% success rate on recommended stocks.
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FirstCash (FCFS) Company Description:
FirstCash, Inc. operates retail-based pawn stores. It operates through the following segments: U.S. operations and Latin America operations. The U. S. Operations segment includes all pawn and consumer loan operations in the U. S. The Latin America Operations segment consists of all pawn and consumer loan operations in Latin America, which includes operations in Mexico, Guatemala, El Salvador and Colombia. The company was founded in July 1988 and is headquartered in Fort Worth, TX.
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