EZCORP (NASDAQ:EZPW) Shares Gap Up After Better-Than-Expected Earnings

Key Points

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EZCORP, Inc. (NASDAQ:EZPW - Get Free Report) shares gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $13.32, but opened at $14.32. EZCORP shares last traded at $14.66, with a volume of 317,158 shares traded.

The credit services provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.10. EZCORP had a return on equity of 11.53% and a net margin of 7.45%. The business had revenue of $310.98 million during the quarter, compared to analysts' expectations of $302.25 million.

Analyst Ratings Changes

EZPW has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their target price on EZCORP from $24.00 to $25.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. BTIG Research assumed coverage on EZCORP in a research note on Wednesday, May 14th. They issued a "neutral" rating on the stock. Stephens restated an "equal weight" rating and issued a $17.00 price objective on shares of EZCORP in a research note on Tuesday, May 20th. Finally, Wall Street Zen raised EZCORP from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 14th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $18.50.

Insider Activity at EZCORP

In other EZCORP news, COO John Blair Jr. Powell sold 3,500 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $13.81, for a total value of $48,335.00. Following the completion of the sale, the chief operating officer directly owned 145,983 shares of the company's stock, valued at $2,016,025.23. This trade represents a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 86,000 shares of company stock valued at $1,220,010 over the last three months. Corporate insiders own 2.13% of the company's stock.

Hedge Funds Weigh In On EZCORP

Hedge funds have recently made changes to their positions in the stock. KLP Kapitalforvaltning AS bought a new stake in EZCORP during the fourth quarter valued at $122,000. LPL Financial LLC lifted its stake in shares of EZCORP by 39.3% in the 4th quarter. LPL Financial LLC now owns 14,430 shares of the credit services provider's stock valued at $176,000 after acquiring an additional 4,070 shares during the last quarter. JPMorgan Chase & Co. raised its position in EZCORP by 38.6% during the 4th quarter. JPMorgan Chase & Co. now owns 590,016 shares of the credit services provider's stock valued at $7,210,000 after purchasing an additional 164,260 shares during the last quarter. Norges Bank purchased a new position in shares of EZCORP during the 4th quarter worth approximately $3,067,000. Finally, O Shaughnessy Asset Management LLC purchased a new stake in EZCORP during the 4th quarter valued at $197,000. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

EZCORP Trading Up 9.6%

The firm has a 50 day simple moving average of $13.57 and a 200 day simple moving average of $13.93. The company has a current ratio of 4.04, a quick ratio of 3.25 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $803.42 million, a PE ratio of 12.26 and a beta of 0.52.

About EZCORP

EZCORP, Inc provides pawn services in the United States and Latin America. The company operates through three segments: U.S. Pawn, Latin America Pawn, and Other Investments. The company offers pawn loans collateralized by tangible personal property, jewelry, consumer electronics, tools, sporting goods, and musical instruments.

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