goeasy (TSE:GSY) Stock Price Down 11.7% - Here's What Happened

Key Points

• Stock plunged 11.7% in mid-day trading to as low as C$33.65 (last C$33.77) from a prior close of C$38.23, with ~164,677 shares traded — about 49% below its average daily volume.
• Multiple brokerages have downgraded goeasy (TD, Jefferies, National Bank, Raymond James), leaving the consensus at an average rating of "Hold" and an average price target of C$163.78.
• The company reported a quarterly loss of C($20.25) EPS on C$446.4 million of revenue; goeasy has a market cap of C$590.7 million and a very high reported debt-to-equity ratio of 383.82.

goeasy Ltd. (TSE:GSY - Get Free Report) was down 11.7% during mid-day trading on Wednesday . The company traded as low as C$33.65 and last traded at C$33.77. Approximately 164,677 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 322,822 shares. The stock had previously closed at C$38.23.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. TD Securities lowered goeasy from a "buy" rating to a "hold" rating and decreased their price target for the company from C$160.00 to C$135.00 in a research report on Monday, January 19th. Jefferies Financial Group lowered shares of goeasy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 11th. Scotiabank dropped their target price on shares of goeasy from C$68.00 to C$61.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 25th. National Bank Financial downgraded shares of goeasy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 10th. Finally, Raymond James Financial cut shares of goeasy from a "moderate buy" rating to a "hold" rating and lowered their price objective for the stock from C$208.00 to C$153.00 in a research report on Wednesday, December 3rd. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of C$163.78.

goeasy Trading Down 3.6%

The company has a market cap of C$590.72 million, a PE ratio of 2.69, a PEG ratio of 0.84 and a beta of 0.16. The company has a debt-to-equity ratio of 383.82, a quick ratio of 28.46 and a current ratio of 42.83. The company has a 50 day simple moving average of C$94.24 and a two-hundred day simple moving average of C$128.27.

goeasy (TSE:GSY - Get Free Report) last posted its quarterly earnings results on Wednesday, April 1st. The company reported C($20.25) earnings per share (EPS) for the quarter. goeasy had a return on equity of 19.42% and a net margin of 14.07%.The company had revenue of C$446.40 million during the quarter. Sell-side analysts forecast that goeasy Ltd. will post 20.3207343 EPS for the current 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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