Cormark Has Negative Outlook of goeasy FY2024 Earnings

goeasy Ltd. (TSE:GSY) – Cormark reduced their FY2024 earnings estimates for goeasy in a note issued to investors on Wednesday, October 23rd. Cormark analyst J. Fenwick now anticipates that the company will post earnings of $16.52 per share 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.

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

A number of other brokerages have also recently issued reports on GSY. Scotiabank lifted their price objective on goeasy from C$215.00 to C$222.00 in a report on Friday, August 9th. Desjardins dropped their target price on shares of goeasy from C$215.00 to C$210.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. National Bankshares boosted their price target on shares of goeasy from C$210.00 to C$235.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Finally, BMO Capital Markets lowered shares of goeasy from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from C$218.00 to C$202.00 in a report on Tuesday, October 22nd. 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$218.78.

goeasy Price Performance

Shares of GSY stock opened at C$174.30 on Monday. The stock’s fifty day simple moving average is C$182.31 and its 200 day simple moving average is C$183.59. goeasy has a one year low of C$108.14 and a one year high of C$206.02. The firm has a market cap of C$2.93 billion, a price-to-earnings ratio of 11.34, a P/E/G ratio of 0.84 and a beta of 1.87. The company has a debt-to-equity ratio of 289.31, a current ratio of 15.97 and a quick ratio of 28.46.

Insider Activity at goeasy

In other goeasy news, Senior Officer Jason Mullins sold 4,500 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was 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 company insiders.

goeasy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, October 11th were paid a dividend of $1.17 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $4.68 annualized dividend and a dividend yield of 2.69%. goeasy’s dividend payout ratio (DPR) 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.