Royal Bank Of Canada Has Lowered Expectations for goeasy (TSE:GSY) Stock Price

Key Points

• Royal Bank of Canada lowered its goeasy price target from C$35 to C$33 and maintained an “underperform” rating, implying 15.08% downside from the prior close.
• Analyst views are mixed, but MarketBeat’s consensus is “Reduce,” with an average target of C$40.33; seven analysts rate the stock Hold and two rate it Sell.
• goeasy shares rose 3.3% to C$38.86 on Thursday. The company reported a quarterly loss of C$0.94 per share on revenue of C$371.65 million.

goeasy (TSE:GSY - Get Free Report) had its target price decreased by stock analysts at Royal Bank Of Canada from C$35.00 to C$33.00 in a research report issued on Thursday, BayStreet reports. The firm presently has an "underperform" rating on the stock. Royal Bank Of Canada's target price would suggest a potential downside of 15.08% from the company's previous close.

Other analysts have also recently issued research reports about the stock. ATB Cormark Capital Markets cut shares of goeasy from a "market perform" rating to an "underperform" rating and set a C$35.00 price objective on the stock. in a report on Wednesday, July 29th. Jefferies Financial Group upped their target price on shares of goeasy from C$45.00 to C$51.00 in a report on Monday, August 10th. Desjardins downgraded shares of goeasy from a "buy" rating to a "hold" rating and dropped their target price for the company from C$56.00 to C$44.00 in a research report on Wednesday. Raymond James Financial increased their target price on shares of goeasy from C$42.00 to C$45.00 and gave the company a "market perform" rating in a research report on Tuesday, July 21st. Finally, National Bank Financial cut their price target on shares of goeasy from C$53.00 to C$44.00 and set a "sector perform" rating on the stock in a research note on Thursday. Seven analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of C$40.33.

goeasy Stock Up 3.3%

Shares of TSE GSY traded up C$1.25 during midday trading on Thursday, hitting C$38.86. 123,343 shares of the company's stock were exchanged, compared to its average volume of 202,602. The firm's fifty day simple moving average is C$43.57 and its 200-day simple moving average is C$52.78. The company has a market cap of C$623.08 million, a PE ratio of -1.86, a P/E/G ratio of 0.84 and a beta of 1.29. goeasy has a twelve month low of C$27.60 and a twelve month high of C$140.12. The company has a debt-to-equity ratio of 558.73, a current ratio of 22.81 and a quick ratio of 28.46.

goeasy (TSE:GSY - Get Free Report) last announced its quarterly earnings results on Tuesday, November 10th. The company reported C($0.94) earnings per share (EPS) for the quarter. The business had revenue of C$371.65 million during the quarter. goeasy had a negative net margin of 20.21% and a negative return on equity of 37.13%. Research analysts predict that goeasy will post 20.32 EPS for the current fiscal year.

Insider Activity

In related news, insider Courtenay Andrew Ames Plaunt sold 979 shares of the company's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of C$45.22, for a total value of C$44,270.38. Following the completion of the sale, the insider directly owned 505 shares of the company's stock, valued at C$22,836.10. This represents a 65.97% decrease in their position. Over the last ninety days, insiders sold 4,837 shares of company stock valued at $217,486. 22.05% of the stock is owned by corporate insiders.

About goeasy

goeasy Ltd. is a leading Canadian provider of non-prime consumer lending solutions, offering a suite of financial products through its easyfinancial, easyhome, and LendCare brands. goeasy offers unsecured and secured instalment loans, point-of-sale financing, and lease-to-own merchandise through its omni-channel model, which spans online, mobile, and hundreds of locations nationwide. Driven by its team members' dedication to expand access to credit for underserved communities and helping customers strengthen their financial futures, goeasy has proudly served more than 1.6 million customers while building an award-winning culture.

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