goeasy (TSE:GSY) Shares Pass Above Fifty Day Moving Average – Here’s Why

goeasy Ltd. (TSE:GSY)’s share price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$34.87 and traded as high as C$42.16. goeasy shares last traded at C$42.10, with a volume of 244,377 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Scotiabank cut goeasy from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from C$55.00 to C$39.00 in a research note on Tuesday, April 28th. Jefferies Financial Group lowered their price target on goeasy from C$50.00 to C$39.00 in a research report on Thursday, April 2nd. Royal Bank Of Canada dropped their price target on shares of goeasy from C$33.00 to C$30.00 and set an “underperform” rating on the stock in a research note on Thursday, May 14th. Desjardins cut their price objective on shares of goeasy from C$47.00 to C$38.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Finally, Raymond James Financial reduced their price objective on shares of goeasy from C$46.50 to C$42.00 and set a “market perform” rating for the company in a research note on Thursday, May 14th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$36.56.

goeasy Stock Performance

The firm has a 50-day moving average of C$35.06 and a 200-day moving average of C$80.34. The firm has a market capitalization of C$667.01 million, a P/E ratio of -3.86, a PEG ratio of 0.84 and a beta of 1.43.

goeasy (TSE:GSY) last issued its earnings results on Tuesday, May 12th. The company reported C($1.90) EPS for the quarter. The firm had revenue of C$412.86 million during the quarter. goeasy had a negative return on equity of 26.45% and a negative net margin of 15.76%. On average, research analysts forecast that goeasy Ltd. will post 20.3207343 EPS for the current fiscal year.

About goeasy

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.