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 to $0.98 for the period, compared to the consensus earnings per share 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 Stock Performance

Shares of First Advantage stock traded down $0.19 during trading on Friday, hitting $16.98. 498,098 shares of the stock were exchanged, compared to its average volume of 432,819. The stock’s fifty day moving average is $16.41 and its 200 day moving average is $16.30. 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 debt-to-equity ratio of 0.62, a quick ratio of 4.29 and a current ratio of 4.29. First Advantage has a 12 month low of $12.46 and a 12 month high of $17.49.

First Advantage (NYSE:FA) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. The business had revenue of $184.55 million during the quarter, compared to analyst estimates of $184.66 million. First Advantage had a net margin of 4.28% and a return on equity of 14.12%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 earnings per share. As a group, sell-side analysts anticipate that First Advantage will post 0.83 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. William Blair assumed coverage on First Advantage in a report on Tuesday, April 23rd. They issued an outperform rating on the stock. Needham & Company LLC reiterated a hold rating on shares of First Advantage in a report on Monday, May 13th. Finally, Truist Financial lowered their price target on First Advantage from $250.00 to $249.00 and set a buy rating on the stock in a report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $64.20.

Insider Activity

In other news, insider Joseph K. Jaeger sold 7,331 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $16.08, for a total value of $117,882.48. Following the completion of the sale, the insider now directly owns 688,967 shares of the company’s stock, valued at $11,078,589.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other First Advantage news, Director James Lindsey Clark sold 2,100 shares of First Advantage stock in a transaction on 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 directly owns 42,927 shares of the company’s stock, valued at $664,509.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph K. Jaeger sold 7,331 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 688,967 shares of the company’s stock, valued at $11,078,589.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,034 shares of company stock valued at $241,439. 5.30% of the stock is owned by company insiders.

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.