First Advantage (NYSE:FA) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

First Advantage (NYSE:FA) released its quarterly earnings results on Tuesday. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01, Briefing.com reports. The business had revenue of $199.10 million for the quarter, compared to analyst estimates of $204.39 million. First Advantage had a return on equity of 13.16% and a net margin of 0.65%. First Advantage’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 EPS. First Advantage updated its FY 2024 guidance to 0.880-0.980 EPS and its FY24 guidance to $0.88-0.98 EPS.

First Advantage Trading Down 0.9 %

Shares of NYSE:FA opened at $17.85 on Friday. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 22.52 and a beta of 1.18. The company has a quick ratio of 4.31, a current ratio of 3.85 and a debt-to-equity ratio of 0.61. First Advantage has a 12 month low of $13.79 and a 12 month high of $20.79. The company’s fifty day simple moving average is $19.11 and its 200 day simple moving average is $17.61.

Analysts Set New Price Targets

Several research analysts recently issued reports on FA shares. Truist Financial reduced their price target on shares of First Advantage from $250.00 to $249.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. William Blair reiterated an “outperform” rating on shares of First Advantage in a research report on Wednesday. Citigroup upped their target price on shares of First Advantage from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Wolfe Research downgraded shares of First Advantage from an “outperform” rating to a “peer perform” rating in a research note on Thursday, October 10th. Finally, Needham & Company LLC restated a “hold” rating on shares of First Advantage in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $77.25.

About First Advantage

First Advantage Corporation provides employment background screening, identity, and verification solutions worldwide. It offers pre-onboarding products and solutions, such as criminal background checks, drug/health screening, extended workforce screening, FBI channeling, identity checks and biometric fraud mitigation tools, education/work history verification, driver records and compliance, healthcare credentials, executive screening, and other screening products.