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Investing.com - TD Cowen raised its price target on First Cash Financial (NASDAQ:FCFS) to $172.00 from $159.00 on Monday, while maintaining a Buy rating on the stock. The company, currently trading at $138.76 and showing a remarkable 33% year-to-date return, has earned a "GREAT" financial health score according to InvestingPro analysis.
The price target increase follows First Cash Financial’s earlier-than-expected closing of its acquisition of H&T Group, which establishes the company as the leading pawnbroker in the U.K. with 286 locations.
TD Cowen noted that H&T Group is projected to generate full-year 2025 revenue of $315-$340 million, net income of $35-$38 million, and EBITDA of $60-$65 million, figures that exceeded the firm’s expectations.
The acquisition is expected to contribute $0.20-0.25 to First Cash Financial’s earnings per share from August 14 through year-end, accounting for debt costs at 6.5% and a 25% tax rate.
TD Cowen revised its earnings per share estimates for First Cash Financial to $8.41 for 2025 and $10.85 for 2026, up from previous estimates of $8.15 and $10.00, respectively, with the new price target representing 16 times the firm’s 2026 EPS estimate.
In other recent news, FirstCash Holdings, Inc. has reported impressive second-quarter financial results, with adjusted earnings of $1.79 per share, surpassing analyst expectations of $1.67. The company’s revenue reached $830.6 million, exceeding the projected $822.6 million. This strong performance is attributed to increased demand for pawn loans and enhanced operations in its retail point-of-sale payment solutions segment. Additionally, FirstCash has raised its dividend by 11%, reflecting confidence in its financial stability.
In a strategic move, FirstCash has completed the acquisition of H&T Group plc, the largest pawn store operator in the United Kingdom (TADAWUL:4280), for $383 million. This acquisition marks the company’s first foray into the European market, expanding its global presence to over 3,300 retail pawn locations with annualized pro forma revenues nearing $4 billion. Furthermore, Texas Capital Securities has initiated coverage on FirstCash with a Buy rating and a price target of $160, highlighting its significant footprint in the U.S. and Latin American markets. These recent developments underscore FirstCash’s ongoing growth and expansion efforts.
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