First Advantage (NYSE:FA) Issues FY 2024 Earnings Guidance

First Advantage (NYSE:FA) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 0.880-0.980 for the period, compared to the consensus earnings per share estimate of 0.920. The company issued revenue guidance of $750.0 million-$800.0 million, compared to the consensus revenue estimate of $771.7 million. First Advantage also updated its FY24 guidance to $0.88-0.98 EPS.

First Advantage Stock Performance

NYSE:FA traded up $0.24 during trading hours on Friday, reaching $18.09. 18,861 shares of the stock were exchanged, compared to its average volume of 510,722. The company has a quick ratio of 4.31, a current ratio of 3.85 and a debt-to-equity ratio of 0.61. The firm has a 50 day simple moving average of $19.11 and a 200-day simple moving average of $17.61. First Advantage has a 52 week low of $13.79 and a 52 week high of $20.79. The stock has a market capitalization of $3.12 billion, a P/E ratio of 595.00 and a beta of 1.18.

First Advantage (NYSE:FA) last posted its earnings results on Tuesday, November 12th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.25 by $0.01. The firm had revenue of $199.10 million for the quarter, compared to analysts’ expectations of $204.39 million. First Advantage had a return on equity of 13.16% and a net margin of 0.65%. The firm’s revenue was down .6% compared to the same quarter last year. During the same period last year, the firm earned $0.25 EPS. As a group, sell-side analysts forecast that First Advantage will post 0.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on FA shares. William Blair reissued an “outperform” rating on shares of First Advantage in a research report on Wednesday. Truist Financial reduced their price objective on First Advantage from $250.00 to $249.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of First Advantage in a research note on Wednesday. Royal Bank of Canada started coverage on First Advantage in a report on Friday. They set an “outperform” rating and a $22.00 target price for the company. Finally, Wolfe Research cut First Advantage from an “outperform” rating to a “peer perform” rating in a report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.20.

First Advantage Company Profile

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.