Scotiabank Lowers goeasy (TSE:GSY) Price Target to C$55.00

Key Points

• Scotiabank cut its price target for goeasy from C$61.00 to C$55.00, a target that the report says implies roughly a 56.5% upside from the current share price.
• Several major brokers (TD, RBC, Jefferies, Raymond James, National Bank) have recently downgraded goeasy, leaving a consensus rating of Hold with an average target of C$72.00 (2 Buys, 6 Holds, 1 Sell).
• Shares traded at C$35.15 (near a 52-week low of C$33.13); the company has a market cap of C$563.3M, a low PE of 2.56, but a very high debt-to-equity ratio of 383.82.

goeasy (TSE:GSY - Get Free Report) had its price objective lowered by research analysts at Scotiabank from C$61.00 to C$55.00 in a research report issued on Thursday,BayStreet.CA reports. Scotiabank's price objective suggests a potential upside of 56.47% from the company's current price.

Several other research firms have also commented on GSY. TD Securities lowered shares of goeasy from a "buy" rating to a "hold" rating and decreased their target price for the company from C$160.00 to C$135.00 in a report on Monday, January 19th. Royal Bank Of Canada lowered shares of goeasy from a "hold" rating to a "strong sell" rating in a research report on Wednesday, March 11th. Jefferies Financial Group cut shares of goeasy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 11th. Raymond James Financial downgraded shares of goeasy from a "moderate buy" rating to a "hold" rating and lowered their price objective for the company from C$208.00 to C$153.00 in a research report on Wednesday, December 3rd. Finally, National Bank Financial cut goeasy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 10th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of C$72.00.

goeasy Price Performance

Shares of TSE:GSY traded down C$2.21 during trading on Thursday, reaching C$35.15. 244,841 shares of the company traded hands, compared to its average volume of 332,645. The company's 50 day moving average is C$92.40 and its two-hundred day moving average is C$127.64. The firm 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 quick ratio of 28.46, a current ratio of 42.83 and a debt-to-equity ratio of 383.82. goeasy has a 52 week low of C$33.13 and a 52 week high of C$216.50.

goeasy (TSE:GSY - Get Free Report) last issued its quarterly earnings results on Wednesday, April 1st. The company reported C($20.25) 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. As a group, sell-side analysts predict that goeasy will post 20.3207343 earnings per share 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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