goeasy (TSE:GSY) Stock Price Down 16.6% Following Analyst Downgrade

goeasy Ltd. (TSE:GSY)’s share price was down 16.6% on Wednesday after Royal Bank Of Canada lowered their price target on the stock from C$35.00 to C$33.00. Royal Bank Of Canada currently has an underperform rating on the stock. goeasy traded as low as C$33.84 and last traded at C$37.50. Approximately 402,269 shares changed hands during mid-day trading, an increase of 100% from the average session volume of 201,502 shares. The stock had previously closed at C$44.96.

Several other brokerages also recently weighed in on GSY. Raymond James Financial raised their price target on goeasy from C$42.00 to C$45.00 and gave the stock a “market perform” rating in a report on Tuesday, July 21st. Desjardins lowered goeasy from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$56.00 to C$44.00 in a research note on Wednesday. National Bank Financial cut their price objective on shares of goeasy from C$53.00 to C$44.00 and set a “sector perform” rating on the stock in a report on Thursday. ATB Cormark Capital Markets downgraded shares of goeasy from a “market perform” rating to an “underperform” rating and set a C$35.00 target price on the stock. in a research report on Wednesday, July 29th. Finally, Jefferies Financial Group boosted their target price on shares of goeasy from C$45.00 to C$51.00 in a research report on Monday, August 10th. Seven research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of C$40.33.

Insider Activity

In related news, insider Courtenay Andrew Ames Plaunt sold 2,591 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$117,165.02. Insiders sold 4,837 shares of company stock valued at $217,486 in the last three months. Company insiders own 22.05% of the company’s stock.

goeasy Stock Up 3.4%

The company has a current ratio of 24.16, a quick ratio of 28.46 and a debt-to-equity ratio of 567.75. The company has a market capitalization of C$641.36 million, a PE ratio of -1.92, a price-to-earnings-growth ratio of 0.84 and a beta of 1.29. The business’s 50-day simple moving average is C$43.48 and its 200-day simple moving average is C$52.33.

goeasy (TSE:GSY) last released its quarterly earnings data on Tuesday, November 10th. The company reported C($0.94) EPS for the quarter. The business had revenue of C$371.65 million during the quarter. goeasy had a negative net margin of 24.15% and a negative return on equity of 48.47%. As a group, equities research analysts anticipate that goeasy Ltd. will post 20.32 EPS for the current fiscal year.

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.