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

First Advantage (NYSE:FA) issued an update on its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.880-0.980 for the period, compared to the consensus estimate of 0.930. The company issued revenue guidance of $750.0 million-$800.0 million, compared to the consensus revenue estimate of $772.0 million. First Advantage also updated its FY24 guidance to $0.88 to $0.98 EPS.

First Advantage Price Performance

NYSE:FA traded down $0.19 during mid-day trading on Friday, reaching $16.98. 498,098 shares of the company were exchanged, compared to its average volume of 432,819. The company has a quick ratio of 4.29, a current ratio of 4.29 and a debt-to-equity ratio of 0.62. The stock has a market cap of $2.47 billion, a PE ratio of 77.18, a PEG ratio of 3.27 and a beta of 1.14. First Advantage has a 12 month low of $12.46 and a 12 month high of $17.49. The company has a fifty day moving average of $16.41 and a 200 day moving average of $16.30.

First Advantage (NYSE:FA) last announced its earnings results on Thursday, August 8th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.21. The company had revenue of $184.55 million for 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%. First Advantage’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business earned $0.24 earnings per share. On average, research analysts anticipate that First Advantage will post 0.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FA shares. William Blair began coverage on First Advantage in a research note on Tuesday, April 23rd. They set an outperform rating on the stock. Needham & Company LLC reaffirmed a hold rating on shares of First Advantage in a research note on Monday, May 13th. Finally, 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 research report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $64.20.

Insider Transactions at First Advantage

In other First Advantage news, Director James Lindsey Clark sold 5,603 shares of First Advantage stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $16.25, for a total transaction of $91,048.75. Following the transaction, the director now directly owns 45,027 shares in the company, valued at $731,688.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Joseph K. Jaeger sold 7,331 shares of First Advantage stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $16.08, for a total value of $117,882.48. Following the sale, the insider now 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 SEC, which is available through this hyperlink. Also, Director James Lindsey Clark sold 5,603 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $16.25, for a total value of $91,048.75. Following the sale, the director now owns 45,027 shares in the company, valued at approximately $731,688.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,034 shares of company stock worth $241,439. 5.30% of the stock is currently 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.