Brokers Set Expectations for First Advantage FY2024 Earnings

First Advantage Co. (NYSE:FA) – Equities researchers at William Blair lowered their FY2024 earnings per share estimates for First Advantage in a research report issued on Wednesday, December 11th. William Blair analyst A. Nicholas now forecasts that the company will earn $0.74 per share for the year, down from their prior estimate of $0.77. William Blair has a “Outperform” rating on the stock. The consensus estimate for First Advantage’s current full-year earnings is $0.75 per share. William Blair also issued estimates for First Advantage’s Q4 2024 earnings at $0.19 EPS, Q1 2025 earnings at $0.12 EPS, Q4 2025 earnings at $0.27 EPS and FY2027 earnings at $1.65 EPS.

Several other equities analysts also recently commented on FA. Wolfe Research downgraded shares of First Advantage from an “outperform” rating to a “peer perform” rating in a report on Thursday, October 10th. Barclays reissued an “overweight” rating and set a $22.00 target price on shares of First Advantage in a research report on Wednesday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of First Advantage in a research note on Wednesday, November 13th. Royal Bank of Canada initiated coverage on First Advantage in a report on Friday, November 15th. They issued an “outperform” rating and a $22.00 price target on the stock. Finally, BMO Capital Markets assumed coverage on shares of First Advantage in a research note on Wednesday. They set an “outperform” rating and a $20.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, First Advantage presently has an average rating of “Moderate Buy” and a consensus target price of $53.29.

First Advantage Stock Performance

NYSE:FA opened at $19.34 on Friday. First Advantage has a 52-week low of $14.01 and a 52-week high of $20.79. The firm has a market capitalization of $3.34 billion, a PE ratio of 644.67 and a beta of 1.17. The stock has a 50-day simple moving average of $18.96 and a two-hundred day simple moving average of $18.03. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.85 and a current ratio of 3.85.

First Advantage (NYSE:FA) last announced its earnings results on Tuesday, November 12th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.01. First Advantage had a net margin of 0.65% and a return on equity of 13.16%. The company had revenue of $199.10 million during the quarter, compared to analyst estimates of $204.39 million. During the same period in the previous year, the business posted $0.25 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year.

Institutional Investors Weigh In On First Advantage

Several institutional investors have recently added to or reduced their stakes in FA. Quarry LP increased its holdings in First Advantage by 49.7% in the 2nd quarter. Quarry LP now owns 2,607 shares of the company’s stock worth $42,000 after buying an additional 865 shares during the period. Marshall Wace LLP purchased a new stake in shares of First Advantage during the 2nd quarter worth about $209,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of First Advantage during the 2nd quarter valued at about $211,000. Truist Financial Corp acquired a new position in First Advantage in the 2nd quarter worth about $234,000. Finally, Intech Investment Management LLC purchased a new stake in shares of First Advantage in the third quarter valued at approximately $250,000. Institutional investors and hedge funds own 94.91% 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.