First Advantage (NYSE:FA) Releases FY24 Earnings Guidance

First Advantage (NYSE:FA) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.88 to $0.98 for the period, compared to the consensus estimate of $0.93. The company issued revenue guidance of $750 million to $800 million, compared to the consensus revenue estimate of $771.99 million. First Advantage also updated its FY 2024 guidance to 0.880-0.980 EPS.

First Advantage Trading Down 1.1 %

Shares of FA traded down $0.19 during mid-day trading on Friday, reaching $16.98. The company’s stock had a trading volume of 498,098 shares, compared to its average volume of 432,819. The stock has a market cap of $2.47 billion, a PE ratio of 77.18, a P/E/G ratio of 3.27 and a beta of 1.14. The company has a current ratio of 4.29, a quick ratio of 4.29 and a debt-to-equity ratio of 0.62. First Advantage has a 52 week low of $12.46 and a 52 week high of $17.49. The company’s fifty day moving average price is $16.41 and its two-hundred day moving average price is $16.30.

First Advantage (NYSE:FA) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.21. First Advantage had a net margin of 4.28% and a return on equity of 14.12%. The firm had revenue of $184.55 million during the quarter, compared to analyst estimates of $184.66 million. During the same period in the previous year, the business posted $0.24 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. On average, analysts predict that First Advantage will post 0.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

FA has been the subject of a number of recent analyst reports. William Blair initiated coverage on shares of First Advantage in a report on Tuesday, April 23rd. They set an outperform rating for the company. Truist Financial lowered their price target on shares of First Advantage from $250.00 to $249.00 and set a buy rating for the company in a report on Monday, July 22nd. Finally, Needham & Company LLC reiterated a hold rating on shares of First Advantage in a report on Monday, May 13th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, First Advantage has an average rating of Moderate Buy and a consensus target price of $64.20.

Insider Transactions at First Advantage

In other news, Director James Lindsey Clark sold 2,100 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $15.48, for a total value of $32,508.00. Following the completion of the sale, the director now directly owns 42,927 shares of the company’s stock, valued at approximately $664,509.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Joseph K. Jaeger sold 7,331 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $16.08, for a total value of $117,882.48. Following the completion of the transaction, the insider now directly owns 688,967 shares in the company, valued at approximately $11,078,589.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James Lindsey Clark sold 2,100 shares of the stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $15.48, for a total transaction of $32,508.00. Following the completion of the transaction, the director now owns 42,927 shares of the company’s stock, valued at $664,509.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,034 shares of company stock valued at $241,439. Company insiders own 5.30% 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.