goeasy (TSE:GSY) Downgraded by ATB Cormark Capital Markets to Sector Perform

Key Points

• ATB Cormark downgraded goeasy from "speculative buy" to sector perform and cut its price target from C$85 to C$42, implying roughly a 19.5% upside from the prior close.
• Multiple brokers also lowered targets this week (Desjardins C$47, Scotiabank C$55, Jefferies C$39, RBC C$33, TD C$36), leaving an analyst mix of two Buys, six Holds and one Sell and a MarketBeat consensus rating of "Hold".
• Shares fell to C$35.15 on the news; the company has a market cap of C$563M, a low P/E of 2.56 but very high leverage (debt-to-equity 383.82) and a 52-week range of C$33.13–C$216.50.

goeasy (TSE:GSY - Get Free Report) was downgraded by equities research analysts at ATB Cormark Capital Markets from a "speculative buy" rating to a "sector perform" rating in a research note issued to investors on Thursday,BayStreet.CA reports. They presently have a C$42.00 price objective on the stock, down from their previous price objective of C$85.00. ATB Cormark Capital Markets' target price indicates a potential upside of 19.49% from the stock's previous close.

GSY has been the subject of a number of other reports. Desjardins cut their price target on goeasy from C$64.00 to C$47.00 and set a "buy" rating for the company in a report on Thursday. Scotiabank lowered their price objective on shares of goeasy from C$61.00 to C$55.00 in a research report on Thursday. Jefferies Financial Group dropped their target price on shares of goeasy from C$50.00 to C$39.00 in a research note on Thursday. Royal Bank Of Canada reduced their target price on shares of goeasy from C$52.00 to C$33.00 in a research report on Thursday. Finally, TD Securities decreased their price target 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. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, goeasy currently has a consensus rating of "Hold" and a consensus price target of C$72.00.

goeasy Price Performance

Shares of GSY traded down C$2.21 on Thursday, hitting C$35.15. The company's stock had a trading volume of 244,841 shares, compared to its average volume of 332,645. The company has a market capitalization of C$563.31 million, a PE ratio of 2.56, a PEG ratio of 0.84 and a beta of 0.16. The company has a debt-to-equity ratio of 383.82, a current ratio of 42.83 and a quick ratio of 28.46. goeasy has a fifty-two week low of C$33.13 and a fifty-two week high of C$216.50. The company has a 50 day moving average price of C$92.40 and a 200 day moving average price of C$127.64.

goeasy (TSE:GSY - Get Free Report) last released its quarterly earnings results on Wednesday, April 1st. The company reported C($20.25) earnings per share for the quarter. goeasy had a net margin of 14.07% and a return on equity of 19.42%. The business had revenue of C$446.40 million for the quarter. On average, research analysts anticipate that goeasy will post 20.3207343 earnings per share for the current fiscal year.

goeasy Company Profile

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.

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