goeasy (TSE:GSY) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• goeasy Ltd. shares have surpassed their 200-day moving average, trading at C$203.65 after reaching a high of C$204.90.
• Analysts have positively adjusted their price targets for goeasy, with BMO Capital Markets increasing theirs to C$232.00 and a consensus target price now at C$221.25, indicating a Moderate Buy rating.
• The company recently announced a quarterly dividend of $1.46, providing an annual yield of 2.9%, with a payout ratio of 28.45%.

goeasy Ltd. (TSE:GSY - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$163.53 and traded as high as C$204.90. goeasy shares last traded at C$203.65, with a volume of 47,040 shares traded.

Wall Street Analysts Forecast Growth

GSY has been the subject of several recent analyst reports. Raymond James Financial raised their target price on goeasy from C$215.00 to C$226.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Scotiabank raised their target price on goeasy from C$230.00 to C$235.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. BMO Capital Markets raised their target price on goeasy from C$228.00 to C$232.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. TD Securities raised their target price on goeasy from C$205.00 to C$210.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Finally, National Bankshares raised their target price on goeasy from C$255.00 to C$265.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$221.25.

goeasy Trading Up 2.2%

The stock has a market cap of C$3.51 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 0.84 and a beta of 1.87. The company has a quick ratio of 28.46, a current ratio of 82.04 and a debt-to-equity ratio of 287.63. The business has a 50-day moving average of C$180.75 and a 200-day moving average of C$164.09.

goeasy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, July 11th were issued a dividend of $1.46 per share. This represents a $5.84 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, June 27th. goeasy's dividend payout ratio (DPR) is 28.45%.

Insiders Place Their Bets

In related news, Senior Officer Daniel Llewellyn Rees bought 1,000 shares of the business's stock in a transaction on Monday, June 23rd. The shares were bought at an average cost of C$160.00 per share, for a total transaction of C$160,000.00. 22.05% of the stock is currently owned by company insiders.

goeasy Company Profile

goeasy Ltd. provides non-prime leasing and lending services under the easyhome, easyfinancial, and LendCare brands to consumers in Canada. The company operates through two segments, Easyfinancial and Easyhome. It offers unsecured and secured installment loans; home equity secured instalment loans and automotive vehicle financing; and loans to finance the purchase of retail goods, powersports and recreational vehicles, home improvement projects, and healthcare related products and services.