goeasy (TSE:GSY) Cut to Sector Perform at Scotiabank

Key Points

• Scotiabank downgraded goeasy from "sector outperform" to "sector perform" and cut its target to C$39.00 (from C$55.00), implying about a 23.6% upside from the current price.
• Multiple brokers have trimmed ratings and targets recently (BMO, Raymond James, TD, Desjardins, Jefferies); the consensus across analysts is a "Hold" with a consensus price target of C$54.89.
• Shares traded at C$31.55 on the report date; the company reported quarterly EPS of C($8.93) and shows negative profitability metrics (net margin -10.51%, ROE -16.05%), with a market cap of ~C$505.9M.

goeasy (TSE:GSY - Get Free Report) was downgraded by analysts at Scotiabank from a "sector outperform" rating to a "sector perform" rating in a note issued to investors on Tuesday,BayStreet.CA reports. They currently have a C$39.00 target price on the stock, down from their prior target price of C$55.00. Scotiabank's price target suggests a potential upside of 23.61% from the stock's current price.

A number of other research firms have also recently weighed in on GSY. BMO Capital Markets cut goeasy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 10th. Raymond James Financial decreased their price objective on goeasy from C$77.00 to C$50.00 in a research report on Thursday, April 2nd. TD Securities dropped their price objective on shares of goeasy from C$44.00 to C$36.00 and set a "hold" rating on the stock in a research note on Thursday, April 2nd. Desjardins dropped their price objective on shares of goeasy from C$64.00 to C$47.00 and set a "buy" rating on the stock in a research note on Thursday, April 2nd. Finally, Jefferies Financial Group dropped their price objective on shares of goeasy from C$50.00 to C$39.00 in a research note on Thursday, April 2nd. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of C$54.89.

goeasy Stock Performance

Shares of GSY stock traded up C$0.52 during trading hours on Tuesday, hitting C$31.55. The stock had a trading volume of 152,894 shares, compared to its average volume of 323,972. The firm has a market capitalization of C$505.87 million, a PE ratio of -2.93, a PEG ratio of 0.84 and a beta of 1.33. goeasy has a twelve month low of C$30.14 and a twelve month high of C$216.50. The stock's 50 day moving average is C$58.50 and its 200 day moving average is C$108.62. The company has a debt-to-equity ratio of 543.86, a current ratio of 23.15 and a quick ratio of 28.46.

goeasy (TSE:GSY - Get Free Report) last posted its quarterly earnings data on Wednesday, April 1st. The company reported C($8.93) EPS for the quarter. The business had revenue of C$368.69 million during the quarter. goeasy had a negative net margin of 10.51% and a negative return on equity of 16.05%. As a group, research analysts forecast that goeasy will post 20.3207343 earnings per share for the current fiscal year.

About goeasy

goeasy Ltd provides financial services to own furniture, electronics, computers, and appliances. It offers merchandise leasing of household furnishings, appliances, and home electronic products to consumers under weekly or monthly leasing agreements. The company also offers unsecured installment loans to consumers. Its reportable business segments include easyhome and easyfinancial, of which it derives maximum revenue from easyfinancial segment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.