Neutral - Price 17.63 on April 21
by Sterne, Agee & Leach

March-Q EPS of 32 cents [beat] First Call consensus of 31 cents. Reported results exclude impact of a 2-cent-per-share loss associated with closed pay-day loan (PDL) stores, as well as an 8-cent gain associated with collected AutoMaster receivables. Total revenue was up 7% during the quarter over year-ago levels, [although] growth was dampened by lower levels of PDL revenue in the U.S., and lower reported revenue growth in Mexico tied to the peso's decline. Results benefited from...higher margins (41%) on disposition of jewelry as scrap. FCFS [will close] up to 30 [U.S.] pay-day loan stores. We're increasing our '09 EPS estimate from $1.35 to $1.38. Market cap: $516 million.

Pawn shops rule lost decade

With a nod to these dark days, they also like First Cash Financial Services (FCFS), a pawnshop chain and payday-lender from Arlington, Texas. They began buying it at 15.96; it was recently trading at 14.12. Regulators have been cracking down on payday-lending practices, causing investors to pull back. However, Wallis expects that aspect of First Cash's business to be "almost immaterial." Instead, First Cash is expanding its Mexican pawnshop business. Earnings are expected to climb to $1.37 in '09 before hitting $1.54 in '10.

Seems to be making a big rebound from the financials sector

Waiting to buy this

sources of loan $ fewer

g.a.r.p.

Upgraded by Roth Capital from Hold to Buy

Downgraded by Roth Capital from Buy to Hold

Good expansion of financial services to the un-banked near the Mexian border

Going nowhere but down

Recent buy- Wanted to buy for a long time. Now the price looks like it's bottomed