Cormark Issues Pessimistic Estimate for goeasy Earnings

goeasy Ltd. (TSE:GSY) – Analysts at Cormark reduced their FY2024 EPS estimates for goeasy in a research report issued to clients and investors on Wednesday, October 23rd. Cormark analyst J. Fenwick now anticipates that the company will post earnings per share of $16.52 for the year, down from their prior forecast of $17.02. The consensus estimate for goeasy’s current full-year earnings is $20.32 per share. Cormark also issued estimates for goeasy’s Q4 2024 earnings at $4.46 EPS, Q1 2025 earnings at $4.91 EPS, Q4 2025 earnings at $5.77 EPS and FY2025 earnings at $20.68 EPS.

Other equities research analysts have also recently issued reports about the company. Desjardins dropped their target price on goeasy from C$215.00 to C$210.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. National Bankshares increased their price objective on goeasy from C$210.00 to C$235.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. BMO Capital Markets cut shares of goeasy from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from C$218.00 to C$202.00 in a research report on Tuesday, October 22nd. Finally, Scotiabank upped their price target on goeasy from C$215.00 to C$222.00 in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$218.78.

goeasy Stock Performance

TSE GSY opened at C$175.50 on Monday. The company has a 50-day simple moving average of C$182.12 and a two-hundred day simple moving average of C$183.54. goeasy has a 12-month low of C$108.84 and a 12-month high of C$206.02. The firm has a market cap of C$2.95 billion, a price-to-earnings ratio of 11.42, 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 15.97 and a debt-to-equity ratio of 289.31.

goeasy (TSE:GSY) last released its earnings results on Thursday, August 8th. The company reported C$4.10 EPS for the quarter, beating the consensus estimate of C$4.01 by C$0.09. The company had revenue of C$377.80 million for the quarter, compared to analyst estimates of C$372.40 million. goeasy had a net margin of 33.40% and a return on equity of 25.28%.

Insider Buying and Selling

In related news, Senior Officer Jason Mullins sold 4,500 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of C$188.00, for a total transaction of C$846,000.00. 22.05% of the stock is currently owned by insiders.

goeasy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, October 11th were issued a dividend of $1.17 per share. This represents a $4.68 annualized dividend and a yield of 2.67%. The ex-dividend date was Friday, September 27th. goeasy’s dividend payout ratio is currently 30.45%.

About goeasy

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.