First Advantage (NYSE:FA) Updates FY24 Earnings Guidance

First Advantage (NYSE:FA) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.88-0.98 for the period, compared to the consensus earnings per share estimate of $0.94. The company issued revenue guidance of $750-800 million, compared to the consensus revenue estimate of $772.81 million. First Advantage also updated its FY 2024 guidance to 0.880-0.980 EPS.

First Advantage Price Performance

Shares of NYSE:FA opened at $16.23 on Thursday. The company’s fifty day moving average is $15.89 and its two-hundred day moving average is $15.72. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 0.62. First Advantage has a 12-month low of $12.10 and a 12-month high of $17.49. The company has a market cap of $2.36 billion, a P/E ratio of 64.92, a price-to-earnings-growth ratio of 2.17 and a beta of 1.18.

First Advantage (NYSE:FA) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). First Advantage had a return on equity of 13.84% and a net margin of 4.88%. The company had revenue of $202.56 million during the quarter, compared to analyst estimates of $211.05 million. Equities analysts expect that First Advantage will post 0.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. William Blair assumed coverage on First Advantage in a research report on Tuesday, April 23rd. They issued an outperform rating on the stock. Evercore ISI raised their price target on shares of First Advantage from $17.00 to $18.00 and gave the stock an outperform rating in a research note on Tuesday, March 26th. Finally, Stifel Nicolaus raised their price target on shares of First Advantage from $16.00 to $21.00 and gave the stock a buy rating in a research note on Thursday, March 14th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $18.00.

Insiders Place Their Bets

In other news, insider Joseph K. Jaeger sold 20,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $16.95, for a total value of $339,000.00. Following the completion of the transaction, the insider now owns 696,298 shares of the company’s stock, valued at approximately $11,802,251.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.70% of the company’s stock.

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.