goeasy (TSE:GSY) Shares Break Below Fifty Day Moving Average - Time to Sell?

Key Points

• goeasy shares briefly fell below their 50-day moving average of C$43.18, trading as low as C$43.08 before recovering to C$44.24.
• Analyst sentiment remains cautious: the stock has a consensus “Reduce” rating and an average price target of C$42.89, despite several analysts recently raising their targets.
• The company reported quarterly revenue of C$390.04 million and EPS of C$1.02, but posted negative net margins and return on equity. Insiders have also sold 4,837 shares worth approximately C$217,486 over the past three months.

goeasy Ltd. (TSE:GSY - Get Free Report)'s share price crossed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of C$43.18 and traded as low as C$43.08. goeasy shares last traded at C$44.24, with a volume of 46,311 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. National Bank Financial raised their price target on goeasy from C$43.00 to C$53.00 and gave the company a "sector perform" rating in a research report on Monday, August 10th. Desjardins boosted their price objective on goeasy from C$38.00 to C$56.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Raymond James Financial boosted their price objective on goeasy from C$42.00 to C$45.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 21st. Royal Bank Of Canada increased their target price on goeasy from C$30.00 to C$35.00 in a research note on Monday, August 10th. Finally, Jefferies Financial Group raised their target price on goeasy from C$45.00 to C$51.00 in a report on Monday, August 10th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of C$42.89.

goeasy Trading Up 3.0%

The company has a current ratio of 22.81, a quick ratio of 28.46 and a debt-to-equity ratio of 558.73. The business's fifty day simple moving average is C$43.18 and its two-hundred day simple moving average is C$40.98. The stock has a market capitalization of C$709.34 million, a P/E ratio of -2.12, a P/E/G ratio of 0.84 and a beta of 1.14.

goeasy (TSE:GSY - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported C$1.02 earnings per share (EPS) for the quarter. goeasy had a negative net margin of 20.21% and a negative return on equity of 37.13%. The company had revenue of C$390.04 million for the quarter. As a group, analysts forecast that goeasy Ltd. will post 20.32 earnings per share for the current year.

Insider Buying and Selling at goeasy

In related news, insider Courtenay Andrew Ames Plaunt sold 979 shares of goeasy stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of C$45.22, for a total transaction of C$44,270.38. Following the sale, the insider directly owned 505 shares of the company's stock, valued at C$22,836.10. This trade represents a 65.97% decrease in their ownership of the stock. Insiders have sold a total of 4,837 shares of company stock valued at $217,486 in the last three months. 22.05% of the stock is currently owned by company insiders.

About goeasy

goeasy Ltd. is a leading Canadian provider of non-prime consumer lending solutions, offering a suite of financial products through its easyfinancial, easyhome, and LendCare brands. goeasy offers unsecured and secured instalment loans, point-of-sale financing, and lease-to-own merchandise through its omni-channel model, which spans online, mobile, and hundreds of locations nationwide. Driven by its team members' dedication to expand access to credit for underserved communities and helping customers strengthen their financial futures, goeasy has proudly served more than 1.6 million customers while building an award-winning culture.

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.