Desjardins Has Negative Estimate for goeasy Q3 Earnings

goeasy Ltd. (TSE:GSY) – Equities researchers at Desjardins dropped their Q3 2024 earnings per share (EPS) estimates for shares of goeasy in a research report issued to clients and investors on Tuesday, October 22nd. Desjardins analyst G. Ho now forecasts that the company will post earnings of $4.14 per share for the quarter, down from their previous forecast of $4.34. Desjardins has a “Buy” rating and a $210.00 price objective on the stock. The consensus estimate for goeasy’s current full-year earnings is $20.32 per share. Desjardins also issued estimates for goeasy’s Q4 2024 earnings at $4.53 EPS, FY2024 earnings at $16.61 EPS, FY2025 earnings at $19.73 EPS and FY2026 earnings at $22.53 EPS.

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

GSY has been the subject of several other reports. Scotiabank increased their target price on goeasy from C$215.00 to C$222.00 in a research report on Friday, August 9th. BMO Capital Markets cut goeasy from an “outperform” rating to a “market perform” rating and decreased their price target for the company from C$218.00 to C$202.00 in a research note on Tuesday. Finally, National Bankshares raised their target price on goeasy from C$210.00 to C$235.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$218.78.

goeasy Price Performance

Shares of TSE GSY opened at C$168.98 on Thursday. The company has a debt-to-equity ratio of 289.31, a current ratio of 15.97 and a quick ratio of 28.46. goeasy has a fifty-two week low of C$106.86 and a fifty-two week high of C$206.02. The stock has a market capitalization of C$2.84 billion, a PE ratio of 10.99, a P/E/G ratio of 0.84 and a beta of 1.87. The business has a fifty day moving average price of C$182.52 and a two-hundred day moving average price of C$183.34.

goeasy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, October 11th were paid a $1.17 dividend. This represents a $4.68 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Friday, September 27th. goeasy’s dividend payout ratio (DPR) is presently 30.45%.

Insider Activity

In other goeasy news, Senior Officer Jason Mullins sold 4,500 shares of the company’s stock in a transaction that occurred 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 corporate insiders.

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.